As the various stock indexes dropped 20% Reuters and other news agencies were reporting that the country was in fact in a recession.
This morning, as oil has dropped nearly 20%, Reuters runs this headline and opening paragraph:
As oil nears 20 percent “bear” market, bulls unfazed
SINGAPORE (Reuters) – As the rout in oil prices nears the 20 percent mark that for stocks would signal a bear market, many analysts offer a word of caution — don’t mistake a healthy correction for the end of a multi-year bull trend.
If I read this right, news that is generally bad for the economy is a recession, news that is good for the economy is a “healthy correction.”
Uh huh
