It’s just a reversal of excessive pessimism. We still have a lot more bull market to go because we had such a huge bear market…The economy is not recovering at a slow pace. America is faster than people think. Third-quarter GDP numbers knocked the socks off of expectations.
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1 February 2010 at 3:48 pm
animal spirits « Stilltitled
[…] in Uncategorized Economists have a tendency to assume that everyone’s behavior is rational. But post-boom pessimism is a factor driving the economy, and it is likely to be associated with […]