Thursday, May 22, 2014
"Everyone Agreed--Interest Rates Would Go UP": Tales From Normal, Mn.: FICTION
Just got the tweet---the bass fishermen in Normal, Mn. are in the midst of one of their retrospective coffee days---when they bring in all the old newspapers they can find from the past year and compare what the pundits SAID versus what REALLY happened....and they were all smiles when they concluded that all the economists, all the politicians, and all the stock market pundits on CNBC said that it was surely inevitable that interest rates would go up--in fact they have gone down....how nice is that...when every suit is WRONG...savor it.