Unexpectedly a Lot of “Unexpected” News
If you are following a lot of news on the economy lately, you would have read headlines saying something or other got “unexpectedly” worse. Some headlines this week:
- Jobless claims unexpectedly rose last week (today)
- New home sales unexpectedly plunged in January (earlier this week)
- Consumer confidence unexpectedly plunges to a 43-year low (yesterday)
- Durable goods orders dropped unexpectedly in January (today)
- German business confidence unexpectedly declines
When I searched Google with “unexpectedly” it produced 14,000 hits. Enough? Ah those economists!!! Do you have tough time deciding who should be blamed for all the financial mess? Shall we blame the Wall Street for peddling toxic garbage as products to the gullible and masses? Or, the “economists” for selling you an economic utopia under phony and unrealistic expectations?
The choice is simple. Wall Street. They know what they are doing. Other than using some fancy English to spew some gibberish, the economists know jack.
Always remember my tag line, “the real world is a special case for the economists!“