When apples are popular, sell apples; when pessimism is popular, sell doom.
Quote:
|
He first predicted a US recession in July 2006. At that time, his view was extremely controversial. It is so no longer.
|
As we have well noted here, recession is inevitable. Predicting recession is no more interesting than predicting the Summer.
The last round of economists predicting doom happened after Enron and the Andersen accounting scandals. Those predictions were followed by a boom. Go figure.