Tuesday, October 20, 2009

Guessing the economic future

"The housing market is turning up. The Dow Jones industrial average last week broke 10,000 for the first time in a year. And recently, the slowly bubbling economy has even prompted some Federal Reserve Board members to argue for raising interest rates sooner rather than later to head off inflation. But a small cadre of economists remains worried about a more insidious threat: deflation."


Basically, no one knows what they're talking about, no one agrees with everyone else, and everyone listens to whoever says what they want to hear.

No one knows. They're all just guessing.

P.S. They all celebrated the Dow breaking 10,000. No one mentioned that it then dropped back down below 10,000.

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