Friday, September 23, 2011

All the experts are wrong (again)

If you've been following the news in the last couple of days you've no doubt heard the financial wizards debating whether the current market setbacks portend the start of a "new" recession. Some insist a "new" recession is underway; others insist that the latest Wall Street panic is merely a speed-bump on the road to recovery. (Some of these call this a "low trajectory" recovery, as if it were an aimed cannon ball or something.)


All of these experts are totally off base. How can we start a "new" recession when the one we've been struggling with lo these past several years still hasn't ended?

1 comment:

Jean-Luc Picard said...

Is it a new recession or the old one continued?