Monday Open Thread — DoubleDip?
All, if you’ve been reading me for any extended period of time, you know that I’m a bit of a Cassandra when it comes to the economy. I think the fundamentals are f***ed, and that this little lull of stock market strength is the calm before the storm. I have a lot of reasons to continue my bearishness, such as the recent rapid rise in foreclosures, but economic news lately has been slowly improving, and I’m left wondering what to think. As Keynes said when accused of flip-flopping on monetary policy:
When the facts change, I change my mind. What do you do, sir?
I suppose that there’s at least some evidence that the facts have changed. Dale @ QandO points out data points released this morning here, here, and here that point to an improvement in economic conditions.
So I’m opening this up to everyone. Where are we headed, and why? Stabilization and a return to a growth trend, or is the light at the end of the tunnel an oncoming freight train?