It’s odd the way the players pay attention to some numbers and not others. There’s no reason why the market should have been surprised by the ConCon. ABC News does a comprehensive consumer confidence survey weekly that always foreshadows the ConCon. Last Tuesday ABC had this to say:
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The Case Shiller House Price Indexes (CSI) for July showed another uptick, which got all the economists crowing again that the bottom is in on house prices. They’re wrong. What else is new? The CSI is misleading them. Today’s report will show you why.
I’m so glad I’m not an economist. What an embarrassment...
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Today we saw a spectacular fiasco of the “economist” community. The retail sales were expected to rise at 0.3% but instead fell 1.1%. The miss of this magnitude is rare.
What did they smoke? I suppose this is an example of how the human brain works. They simply extrapolated the stock market rally and the...
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I like Obie, but he has drunk the Kool Aid. We are doomed. He’s listening to the advice of those very same world renowned egonomists who never saw the current mess coming. How could those who never saw it coming in the first place, and didn’t recognize it after it had already begun have...
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