I find it funny that when you listen to WDEL the economic news is always good. Today for example, the markets are going to be going like gangbusters since the interest rate was cut. Whoopie!!

But when you read actual economists, the bubbly optimism is had to find.


“And even the soft-landing optimists at JPMorgan are now recognizing that the likelihood of a US recession is now at its highest level in years. When mainstream analysts such as Berner start to talk about a recession being likely you know that the debate has clearly shifted towards a discussion of not whether a recession but rather how deep of a recession.”


4:06 Update: Well it looks like the magic of the quarter point rate cut is wearing off.