The media reported on a 0.3 percent rise in retail sales in February, which was described as a surprisingly strong result compared with the consensus expectation of a 0.2 percent decline. However, the news was not as good as this may appear, since January's sales data was revised down by 0.4 percent. In other words, the sales volume reported for February was almost exactly in line with the consensus estimate, even though the January number is less than had previously been believed. (There does appear to be some upward movement in non-auto sales.)

--Dean Baker

The Washington Post is a huge supporter of trade agreements like NAFTA that put non-college educated workers in direct competition with low-paid workers in the developing world, while largely protecting the most highly educated workers like doctors and lawyers. They push this selective protectionism by calling it "free trade." They also call anyone who disagrees with their agenda of selective protectionism, which is designed to redistribute income upward, a protectionist.

The paper really outdid itself today with a front page editorial that used the term "free trade" in the headline and 7 other times in a 900 word article.

--Dean Baker