Gold guru Jim Sinclair has dubbed the, by now, ubiquitous attempts to call a spade a pitchfork, at least where the economy is concerned, M.O.P.E., which stands for Management of Perspective Economics. Today's piece at yahoo is a wonderful example of M.O.P.E. in action.
The recession faded in the spring with economic activity shrinking at a pace of just 0.7 percent, a better-than-expected showing that buttressed beliefs the economy is growing now.
This report seems to have been printed directly from a government agency, since only an idiot or a propagandist would equate a slowing in the rate of decline in economic activity with a fading recession. What we have, and have had since spring, is the economy unconvincingly trying to find its footing after falling from a great height. The only thing that is fading presently is hope that the next major move of consequence isn't precipitously down.