Post-Election, Media Free to Report on Coming Recession
Two days after the election, CNBC published a dour report on the economy. In what should be a shock to no one, CNBC is predicting that the U.S. economy is likely headed for another recession.
CNBC helpfully informs us, now that the election is over, that the light in our economic tunnel could be a “freight train.” It sure would have been nice to know that before the election, wouldn’t it?
Slowing corporate profits, the remnants of Superstorm Sandy and the ramifications of the “fiscal cliff” in Washington are expected to result in at least two quarters of slow or no growth that could make investing even trickier than it was during the ups and downs of 2012.
That isn’t even the worst news. The bigger problem, which is only now being introduced into the media’s narrative, is that the economy never achieved “escape velocity” in order to get past the low growth rate we have been experiencing for the past four years.