Lies, Damn Lies...
02 Jul 2009“Green shoots…” ah, for the good old days of only two weeks ago, when green shoots were in our future…
I never really understood why decreases in the rate of change of unemployment were considered such great news. “Good news, the second derivative has gone positive! we’re plunging into the abyss slightly less quickly!” Only in a world of rampant, congenital optimism – or statistics-induced myopia – could four months in which 18,300 Americans lost their jobs every day be described as a period of “improving conditions”.