Absurdly positive economic news in WSJ

Dan Kohn (dan@teledesic.com)
Wed, 23 Jul 1997 08:01:44 -0700

The WSJ has 3 articles on page 2 that sum up to absurdly great economic

1) Greenspan gave no hint that an interest-rate increase is imminent,
buoying the financial markets. In congressional testimony, the Federal
Reserve chairman hailed the current state of the economy as
"exceptional" and welcomed the recent slowing of the pace of growth.

2) The government will release revised numbers next week that may show
the economy has been forging ahead even faster than thought, adding
almost a full percentage point to growth for the past two years. Is this
good, bad, or what?

3) The U.S. budget gap totaled just $11 billion for the first nine
months of this fiscal year, and the full year's shortfall could be under
$40 billion, the lowest level, expressed as a percentage of the economy,
since 1970.

- dan