How corrupt is Wall Street and Economists???
You hear green shoots and postive waves coming out of most economists and anlaysts on Wall Street which is being supported by the financial media including the likes of Larry Loverboy Kudlow.....
yet, we hear executive after executive making comments like these recently:
"Our sales and earnings declined from our record second quarter 2008 results and were lower than we expected just three months ago," Crane President and CEO Eric Fast said. The company cut its full-year 2009 per-share earnings forecast to $2.01 from $2.31, citing "difficult" market conditions...
You rarely hear an executve spout a single utterence about things turning around, sales improving, or a positive outlook....in any industry that is not a direct seller to government such as health care or defense.
But practically every economist and analyst are boasting about a recovery????
Can anyone explain this seemingly mathematically improbable situation if it were simply the random perspectives of a group of individuals in light of the facts as we know them????