I think that we ought to view economists more akin to a doctor doing an autopsy. Trying to look forward into the future with a live patient, is like reading tea leaves.
Consider for a moment, that everyone that has an economic opinion could be right; the point to realize, is that even if they are right, its only at a certain point and time. It’s just that they can’t all be right at the same moment.
Another thing to look at, as an economist, there needs to be some lying to the general public when things are bad, to keep them from hopefully getting worse.
Reality is that Frys Electronics just sold a gazillion wide screen TV’s at $3,000 a clip (no payment due for one year) and the supermarket is selling lots of premium beer for the Sunday game. If your reading this blog, you know the economy is going to hell–the arrival date is the only item in question.
