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25%  
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Keyword: economicmorons

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  • Blind To Reality

    06/15/2007 5:54:13 AM PDT · by Kitten Festival · 7 replies · 439+ views
    IBD Editorials ^ | 14 June 2007 | Staff
    Journalism: The Dow had just pierced 13,000, but TV news anchors couldn't fathom why. All the data, they noted, showed the economy doing worse, not better. But therein lies a problem with media market analysis. Now, we'll gladly stipulate that knowing why the stock market is acting the way it is on any given day is difficult, if not impossible. Yes, you can guess, as many do, but no one knows for sure. The real reason doesn't usually become clear until months later. But that's the point. Daily market action usually doesn't reflect current conditions, let alone old government data....