For anyone interested in the economy, geopolitics, markets, investing, etc., today’s New York Times is one of the more interesting editions they have put out in I-don’t-know-how-long.
The most interesting article is here: "What’s Ahead: Blue Skies, or More Forecasts of Them?;" it discusses why economist’s optimistic projections are often off the mark. In case you hadn’t noticed, most economists do a poor job predicting slow downs or recessions.
The best graphic in the paper is a fabulous full pager titled Richer Than Ever, but Watch out for Missing Costs, by Dylan Loeb McClain. It reveals such pleasantries as a) Persistent Inequality, b) a 49% increase in Real Estate Assets and the 57% increase in mortgage obligations, and c) the signficant increases in corporate profits.
Have a look at the rest of the hit parade:
What’s Ahead: Blue Skies, or More Forecasts of Them?
In Today’s India, Status Comes With Four Wheels
With Oil Prices Off Their Peak, Are Supplies Assured?
Wow! I’m at Greenspan’s Desk
When Even Supply-Siders Say Taxes Must Rise, an Unpopular Policy Looks Inevitable
Indicators From Everyday Life
Watch This Leading Indicator
I’ll be sure to follow up on these in the coming days . . .