Are Economic Journalists a Barometer for the Intelligence of the Wider Financial Community?
I hope not.
So how about for 2009 we give up on the monthly sales numbers and builder-confidence surveys and home-price indexes. We already know 2009 isn’t going to be any better than 2008 in the housing market. Let’s just wait until next January to confirm that and avoid all the angst in between.Steve Kerch, assistant managing editor, MarketWatch
Similar rant against financial idiotism in Kevin Depew’s 5 things column on Minyanville today.