It is understandable, but not forgivable, that business reporters at Old Media newspapers might think that the economy is in bad shape. They first have to get past how poorly most of their employers are doing. The industry as a whole has not been doing well, and it's been that way for quite some time.

This table illustrates that point (September 30, 2007 figures are at this post, which originally came from this Editor & Publisher article, which will soon disappear behind its firewall; March 31, 2005 figures were estimated in reverse using annual percentage changes reported as of March 31, 2006, because older data I thought would remain available no longer is):

The similarities are eerie. On Oct. 19, 1987, the day of the Black Monday stock market crash there was trouble from the Iranians, a two-term Republican president nearing the end of his term and a network TV news media voicing warnings the American economy might be doomed. Except this day in 1987, the stock market dropped 508 points.

FNC's Brit Hume on Monday night picked up on a column by the San Francisco Chronicle's Debra Saunders which discredited the media spin on an AP/Ipsos poll that found liberals read one more book a year than conservatives, a finding Pat Schroeder, President of the Association of American Publishers claimed illustrated how conservatives can't think beyond slogans. The AP and CNN's Jack Cafferty both jumped on Schroeder's slam. Hume noted that Saunders “says Ipsos told her the one book difference between liberals and conservatives is within the poll's margin of error and not statistically significant. The company also said that since the poll did not ask respondents if they read newspapers or magazines, it does not, therefore, say anything about their general level of knowledge or information.”

The San Francisco Chronicle joins the bandwagon of liberal newspapers that have addressed the "achievement gap" -- the difference between majority [white] student academic achievement and that of minority [black/Latino] pupils. Right from the headline of "Children of Color Being Left Behind," readers are clearly left with the impression that there has been some purposeful scheme to "shortchange" minority students.

There was a lot of competition in the category of Rove Derangement Syndrome last week inspired by the resignation of Karl Rove from the White House. Many of the entrants in the RDS contest were chronicled by NewsBusters associate editor Noel Sheppard last Tuesday.

Here's a headline you'd never expect to see:

Global Warming Watchdog Invests in Oil, Coal, Utilities

Think I'm kidding? Well, check the link.

Making the issue that much more delicious, it was the leading front-page story in Saturday's San Francisco Chronicle (emphasis added throughout):

The media have been in full Rove Derangement Syndrome since Monday's announcement that the famed White House adviser would be stepping down at the end of the month.

NewsBusters has already reported some fine examples here, here, here, here, and here.

However, I would like to nominate the following opening paragraph from Tuesday's San Francisco Chronicle article entitled "Pundits, Bloggers Go Wild Over Rove's Resignation" as the winner of the best example of RDS yet penned or uttered (emphasis added):