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06 Jul 2009 07:22 pm
The Second Coming Of The Bears?
Barry Ritholtz pounces on the sluggish markets:
As we have detailed since this nonsense first started spreading earlier this year, the data simply did not support the notion of a 2nd half recovery. Not only below the headlines, but the actual releases. It was hope, not facts, that led the way. Second derivative improvements are not the same as expansion...I’ve said it before, but it bears repeating: Beware Economists who rely on stock markets to forecast economic activity...
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