The same people who missed the worst oncoming recession in 80 years, the credit collapse (worst in US), and the market crash are now telling you the recovery is for real.
Gee, why does this — Economists expect recovery to stick, see slow, steady GDP rise — not make me more comfortable?
“Nearly four of five economists surveyed by USA TODAY say the stock market rally since March is heralding a sustainable recovery.
If they’re right, the nation won’t slip back into recession nor will the Dow Jones industrial average plunge anywhere near its March low of 6547.05. The Dow sank nearly 3% Friday to close at 9713 after the government reported consumer spending fell 0.5% in September.”
I had to file this under categories “Contrary Indicators” and “Really, really bad calls.”
Originally published at The Big Picture and reproduced here with the author’s permission.