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...there are still doomsdayers waiting for that one to end so they can invest again. Seriously, I meet them all the time. They've been sitting on the sidelines since 2002. (notice that they sold at the bottom and missed the last 5 years of gains)
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Schools of thought...
I've been saying it and saying it: for the last 4 years, the mainstream media's economics story is consistently the same: "The economy is secretly bad."
It's like they wrote it with the same outline:
The GDP had another quarter of excellent growth. But there are impending signs of disaster.
Every story has had its
but.
The major indicies said things were great. So they focused first on the market. When the market boomed, they focused on slow job creation. When the jobs came back, they focused on inequality. When inequality improved, they focused on bad loans.
Now that it's time for the next recession - the inevitable business cycle -
they write that it is a "perfect storm". "If people stop spending money we will go into a recession." Durr. Durrrr.
If the AP wrote a weather story it would be "Climate scientists tell us that it's sunny out now, but if a storm comes tomorrow, water will fall from the sky. Water is a major cause of drowning and rots untreated wood." Their economics stories are literally that dumb.