Economically Thinking

There is an old joke about the bears, as in those who are bearish about the stock market, predicting ten of the last five downturns in the market. Another version applies to the economy as whole. The pessimists have predicted ten of the last five recessions or depressions, as the case may be. There is a lot of truth to it, and you see it in the response to the not so good retail economic numbers.,