Mish Shedlock runs one of the most popular econoblogs out there. Unfortunately for him, "out there" also describes his blog. Day in, day out, Mish is a pessimist. He did a great job describing how the meltdown took place and his take on debt is spot on. He did a great job rounding up the bad news and discussing how it was going to affect things. He still does and that's the problem.
The news isn't all bad any more and the usefulness of a pessimist is declining. Bloomberg's splash page shows the mixed news and gives a much broader view of the world. There are still a few bombs going off, particularly in commercial real estate, but it looks like the bottom has been found in many parts of the economy and nothing is served through constant gloom.
2 comments:
Yeah, that, and the fact that he cherry-picks data to fit his narrative (deflation). I looked through some of his historical posts. He used to hate on the BLS CPI because it understated inflation. Now he hates on it because it understates deflation. Whatever.
Bug plus - your comment section is a much classier place to hang out.
Jeff, thanks for the kind words. My comment section is good because of people like you and Dean and Tim and Kelly and Foxfier and ...
The comment sections in the big blogs always seems to get polluted by angry people who work each other up into greater levels of anger. It's like a pit bull convention in there.
I'm still not happy about the debt situation, but you can see that with the decreasing threats of cap and trade and the health care bill in trouble, American businesses are starting to return to normal ways of doing things.
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