A headline from today:
A survey of top economists released Monday shows that the vast majority of them believe the economy has fallen into a recession that will continue throughout all of 2009. According to the National Association of Business Economists, 90% of the 102 members responding were more pessimistic about the economy than they had been in July.
Let me get this straight, the “top” economists, the ones whose name alone supposedly implies intelligence & credibility, revised their view of the economy down since July? I wonder what tipped them off. What’s changed since July? Unreal. They might as well throw darts. It’s like having one plan in July, then picking up the papers in October and saying, “ah shucks, it all changed, time to revise.”