Economic stupidity

You know, if you are doing a show called "Marketplace", and one of your lead stories contains mention of foreign trade stats, perhaps you should have a basic understanding of the way currencies affect foreign trade?

This morning in the top of the broadcast on NPR's "Marketplace" the announcer said something along the lines of: GDP grew at over 1% in the first quarter, after the revision put out today increased the estimate over the previously released number. The better economic outlook included an unexpected increase in sales of US goods abroad.

Now, wouldn't you think that people on a show about the economy would have actually taken at least one economics class, Econ 101?

When currencies become cheap, it accelerates exports--leading to more sales abroad. Europe right now is decrying the increase in the euro, because it is making their goods too expensive as exports--while we are gaining.

No one with the slightest knowledge of economics could find that "unexpected".

Addendum: I just Googled "strong euro" + trade +exports and came up with articles like these (in order of google):

1. Strong Euro May Be Hampering European Exports

2. UPDATE: Strong Export Growth Boosts Euro-Zone April Trade. Now that seems to go the wrong way, but the first sentence of the actual article is:

The euro zone recorded a foreign trade surplus in April, reversing March's deficit and suggesting that the euro's strength and weakening global demand aren't yet weighing on exports.

3. How is the Strong Euro Affecting Euro-Area Export Margins?

With the euro trading at record highs against the US dollar, investors are becoming increasingly worried about the outlook for euro-area growth. But how are exporters responding to upward pressure on the exchange rate, and what impact is this having on their profit margins?

Ultimately, external demand for euro-area products depends on how much they cost in foreign-currency terms. This, in turn, will be affected by exchangerate developments and by relative changes in unit labour costs. But exporters also need to make a decision about margins. When the euro is rising, exporters may accept lower margins to protect market share. By contrast, when the euro is falling, they may be able to boost both their profit margins and volumes.

Translation: High euro=bad for exports.

4. Strong euro gives a boost to N.H. exporters

One of the major global developments in the last three years is the so-called realignment of currencies, which relates to an enduring change in a key currency against the dollar. Of main interest for international trade is the strengthening of the euro.

Since February 2002, the euro has increased in value by 50 percent against the dollar, implying that businesses and consumers from the euro area could now pay 50 percent less than in 2002 to buy American goods if their prices have stayed the same.

[...] A strong euro makes New Hampshire's goods cheaper in the euro area's single market and gives state exporters an extra advantage.

5. UPDATE 1-Euro zone trade surplus down as strong euro bites ...

I could go on, of course. And I could do the opposite search: "weak dollar"+trade+exports, and come up with the same sort of results.