Dirtt

Barron's Goes Bullish on Banks, Again

Barry Ritholtz poses the question when did three major publications announce "coincidental bottoms?" Not sure but...

The Harvard Economic Society is quoted as follows:

on Jan 18 "...there are indications that the severest phase of the recession is over..."

on Apr 19 "... the outlook is favorable..."

on May 17 "...by May or June the spring recovery forecast in our letters of last December and November should clearly be apparent..."

on June 28 "... irregular and conflicting movements of business should soon give way to a sustained recovery..."

on August 30 "... the present depression has about spent its force..."

But wait. August 30? It's still July. Ahhh. But is it 1930?

credit to gold-eagle.com for the quotes. It would be entertaining if it weren't so pathetic and serious.