Worst Recovery Ever: To Soothe Investor Pain, Government Agency TSA Hypes Airline Stocks in Chilling PR Stunt | Wolf Street

Nowhere could you see in the TSA’s PR announcement that, into the eighth month of the crisis now, passenger traffic for the week that the TSA hyped was still down 64.5% from the same period last year. Nor could you see in the TSA’s PR announcement that it wasn’t even the least-worst week, that in fact the least-worst week had been a month ago, which the TSA makes that clear in its own daily figures of passenger throughput. It didn’t try to hide it. It just forgot to mention it, as any good PR stunt would.

The chart below shows the seven-day moving average of TSA checkpoint screenings this year (red) and last year (black). Last year, screenings surged after Labor Day as business travel took off following the summer calm, and as people with no kids in school started traveling. This happens every year, normally. But it didn’t happen this year. The last data point, the average of the seven days through October 18, covers the week the TSA hyped, and it’s down 64.5% from the same period last year:

Worst Recovery Ever: To Soothe Investor Pain, Government Agency TSA Hypes Airline Stocks in Chilling PR Stunt | Wolf Street