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CNN’s zombie economy

July 16, 2012

CNN has joined in the “zombie economy” rhetoric today with “The myth of the ‘Zombie Economy’” by Annalyn Censky in CNNMoney. The article begins:

Welcome to what’s being called the “Zombie Economy.”

Here using the vague “what’s being called” to avoid claiming who said it (as if it’s not the media themselves). The claim is that it’s just general common wisdom; as if it’s just out there before they repeat it. This kind of usage is similar to the Senator Kyl zombie press release.

But Censky’s article has an undertone of skepticism. The heading picture is captioned:

Is the economy really stalling into a zombie-like state, or are the statistics just distorting the picture?

And though,

Recent data would seem to back up the ‘zombie’ theory.


Maybe the real story is, we’ve been growing consistently — albeit still slowly — all along.

“Hiring isn’t falling off a cliff,” said Dean Croushore, chair of the economics department at the University of Richmond. “It’s really been growing fairly slowly but steadily throughout.”

So you see, it’s not a zombie economy, it’s a turtle economy (slow and steady). Understandable mistake, after all, they’re both green (so is money). All parts of the dying zombie ecology of the world.

While recent data may not be quite the death knell that deserves the ‘zombie’ label, growth has still been frustratingly slow.

From → economics

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