August 11, 2015

AP and Reuters Ignore Likely Impact of Bloated Inventories on Future Growth

Two wire service dispatches covering the government’s June Wholesale Sales and Inventories release either glossed over or completely ignored what others are saying about the report’s impact on near-term economic growth.

The final sentence of an unbylined Reuters report vaguely referred to future impact by indicating that current inventory balances, which are bloated by historical standards, “would weigh on manufacturing and economic growth” (i.e., have a negative impact). Both Reuters and the AP’s Josh Boak completely ignored a leading GDP forecaster’s estimate that inventory buildups seen during the second quarter will cause a significant third-quarter pullback which will also knock down third-quarter economic growth considerably — and that was before today’s news that the June buildup was even greater than expected. Boak’s report also contained an utterly unsupportable “things are getting better” statement.

(more…)

Tuesday Off-Topic (Moderated) Open Thread (081115)

Filed under: Lucid Links — Tom @ 6:05 am

This open thread is meant for commenters to post on items either briefly noted below (if any) or otherwise not covered at this blog. Rules are here.

Positivity: Archbishop Chaput — Other moral issues not equivalent to abortion

Filed under: Lucid Links,Positivity,Taxes & Government — Tom @ 6:00 am

From Philadelphia (bolds are mine):

Aug 10, 2015 / 04:28 pm

Of the many struggles plaguing modern society, none can be equated with the blatant taking of innocent human lives, Archbishop Charles Chaput of Philadelphia said regarding the latest investigative videos of Planned Parenthood.

“Here’s a simple exercise in basic reasoning. On a spectrum of bad things to do, theft is bad, assault is worse and murder is worst. There’s a similar texture of ill will connecting all three crimes, but only a very confused conscience would equate thieving and homicide,” he said in his August 10 column for Catholic Philly.

“Both are serious matters. But there is no equivalence. The deliberate killing of innocent life is a uniquely wicked act. No amount of contextualizing or deflecting our attention to other issues can obscure that.”

In a series of five videos released thus far by the Center for Medical Progress, Planned Parenthood officials casually discuss prices for various aborted baby body parts and how abortion procedures may be altered to ensure intact organs and even “intact cadavers.” One video shows a medical assistant looking through body parts from an aborted baby before proclaiming, “Another boy!”

The videos have raised questions of whether the organization is harvesting and selling organs from aborted babies.

Planned Parenthood has maintained that its actions are legal. However, the videos have prompted widespread outrage, nationwide rallies, congressional investigations and calls to defund the organization, which receives more than half a billion dollars in taxpayer money annually.

While today’s world is filled with many social ills – which are connected and must all be acknowledged and addressed – there is a natural hierarchy to these problems, because some are foundational to human life itself, Archbishop Chaput said.

One common argument against the pro-life movement – of which Catholics make up a large contingent – is that they are merely pro-birth; they do not care about the needs of the child or the mother once the child has been born. That understanding is mistaken, the archbishop commented.

“It makes no sense to champion the cause of unborn children if we ignore their basic needs once they’re born,” he said. “Thus it’s no surprise that – year in and year out – nearly all Catholic dioceses in the United States, including Philadelphia, devote far more time, personnel and material resources to providing social services to the poor and education to young people than to opposing abortion.”

Go here for the rest of the story.