The Big Picture is one of my favorite sites for economic commentary but this post reflects the po-tay-toe po-tah-toe problem. Barry Ritholtz is an accomplished economist but he has a consistently dour perspective on the markets. I was talking to my financial advisor sister a few days ago and I remarked on a phenomenon I noticed years ago; something that I'm seeing huge quantities of during this recession. One bearish commentator will say how weak our recovery will be and this is a horrible thing. A bullish commentator will say the recovery will be weak and this is a wonderful thing and a great time to get in the market. They look at the same information, come to the same conclusion as to the meaning of the data, and then paint it in the colors of their pre-existing prejudices.
The data is the data. The recovery will be weak. Who doesn't believe that?
Friday, May 29, 2009
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