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When good news is bad news.
Here's the deal:
Good economic news worries me.
Not because I don't love good economic news ... Believe me, we need it, and I welcome it.
So when I hear of a healthy durable goods order report or a stunningly high new-home sales report, I’m thinking to myself ... "self, relax. We're rounding the bend."
Then I hear politicians in Washington pointing to that same good news and saying stuff like, "See, the spending works. The results are in. The economy's picking up. Keep the spending pedal down."
Then and there, I want to throw up.
Because spending didn't create these numbers. The economic cycle did.
Digging ourselves into a ditch didn't take us out of an economic one ... It just dug us into an even bigger one.
So let's be careful assuming the good news we're seeing is because of the good-after-bad money we've been spending.
Worry when you hear congress rushing to get another $200 billion worth of so-called emergency spending done in the next 48 hours.
And in the same breath justify it all by saying our economy can't survive without it, and then point to some improving economic statistics to justify it.
They're full of it.
Taking something good to justify something bad.
They're sleazy for trying it.
We'd be idiots for letting 'em get away with it.
UPDATE: Economy Up In Nearly All US Regions - Fed Beige BookProblems spotted in economic revival
