“Expect the unexpected” has been good advice for anyone following American economic news since 2009. That news has usually been bad, and almost always “unexpectedly” so. The surprise is a product of ideological bias: With a kindred spirit in the White House, liberal reporters expect (or at least hope for) good things to happen. A cynical observer might suggest that there is an element of deliberate spin involved, with reporters hoping to keep readers’ expectations afloat until next month’s report.
This Reuters dispatch applies the practice to a new subject:
Health insurer Humana Inc said on Thursday that it projected its enrollment mix in private plans through the exchanges created by President Barack Obama’s healthcare law will be, “more adverse than previously expected.”
Such results were in fact entirely expected by those, including your humble columnist, who warned of “adverse selection.”