Economic Doublespeak

“The Commerce Department reports that sales and income figures show an easing up of the rate at which business is easing off, which is taken as proof of the government’s contention that there is a slowing up of the slowdown.

“In order to clarify the cautious terminology of the experts, it should be noted that a slowing up of the slowdown is not as good as an upturn in the downturn, but it is a good deal better than either a speedup of a slowdown or a deeping of the downturn, and does suggest that the climate is about right for an adjustment to the readjustment.

“Now, turning to unemployment, we find a definite decrease in the rate of increase, which clearly shows that there is a letting up of the letdown. Of course, if the slowdown should speed up, the decrease in the rate of increase of unemployment would turn into an increase in the rate of decrease of employment. In other words, the deceleration would be accelerated.

“But the indicators suggest a leveling off, followed by a gentle pickup rather than a faster pickup, a slowdown of the pickup, and finally, a leveling off again of the pickup. At any rate, the climate is right for a pickup this season, especially if you are unmarried and driving a convertible.”

From a Purchasing World Perspective column in the early 1980’s submitted by Ron Yaffee

No wonder Greenspan earns the big bucks...