“The American economy continues to surge ahead, though you won’t read much about it in the mainstream media. Economic growth in the third quarter was 4.1 percent — despite Hurricane Katrina! — the 10th consecutive quarter with growth over 3 percent. Unemployment is 5.0 percent — lower than the average for the 1970s, 1980s or 1990s.

Since April 2003, the economy has created a net 5.1 million new jobs. Core inflation is only 2.1 percent, and gas prices, which surged above $3 a gallon after Katrina, are now down around $2. Productivity growth for the five-year period of 2000-2005 is 3.4 percent, the highest of any five-year period in 50 years”. — Michael Barone, in an article titled, “The Wal-Mart model”

Update: More economic news here, here and here.