pstarr wrote:In your very own words another Appeal to Authority without comment, content, or text. Violation of the COC.
Which general-beat hack penned this crap? Hum? Does he work for the advertisers? Who ulimately pays his salary? The automobile advertisers? The insurance company advertisers? Does a one-day surge in the American stock market really tell a story of the global economy? Is your post nothing more than a childish and rhetorical stick in the eye?
Geez pstarr. That little rant of yours sounds pretty sulky, and a bit panicky. Why does a little good economic news scare you so if you have such faith in your short term economic doom scenario?
Aside from the opinion that there is "virtually no chance" we're going to have a recession, the article consists simply of factual statistics, it appears to me. And the article talks about the month of Feb. and the month of Jan. trends, not just today.
Also, it appears that the strength of the market has to do with US factory production looking more upbeat, implying stronger consumer spending, per Bloomberg. Also per Bloomberg, the snapback rally the last two weeks of Feb. correlates very well with signs of a strong stock market in coming months, which of course may or may not work out this time around.
It's kind of sad when the pessismists constantly crow over bad news to the extent they often feel free to make stuff up, exaggerate things, etc. but a similar piece of good news is treated as lies, conspiracy, causes hurt feelings, etc. (Reuters isn't exactly known to be a shabby, distorting news source).
Good luck trying to objectively evaluate big picture trends like US fracking and what it means to global energy prices, geopolitics, US and global economic trends, etc. over the next few years or so if the zerohedge style doom and paranoia mask distorts every piece of data folks in your camp look at. But that's right, objectivity gets in the way of the short term peak oil implies doom no matter what meme.
Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.