Economy Hitting Its Groove
In another classic quote from Moody's Analytics, concerning the rise in oil prices, Mark Zandi said "I would view this as a very serious threat to the expansion, just when the economy is hitting its groove"
Seroiusly? This guy thinks as of two days ago the US economy was "hitting its groove". What part of 10% unemployment, 400,000 + unemployed every week and GDP growth based solely upon gov't debt makes this guy think the economy was just "hitting its groove". Sounds like an excuse to me, as he needs one to explain the failure of Keynesian economics.
In another classic quotes from Mark Zandi he said: "I've been a professional economist for nearly a quarter of a century."
As opposed to being just an economist. Which makes one wonder if most economists aren't professional is that the reason they get it wrong 99% of the time, whereby "professional economists" only get it wrong 90% of the time.