No Runny Eggs

The repository of one hard-boiled egg from the south suburbs of Milwaukee, Wisconsin (and the occassional guest-blogger). The ramblings within may or may not offend, shock and awe you, but they are what I (or my guest-bloggers) think.

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“Recession” or “Healthy Correction”

by @ 8:46 on July 30, 2008. Filed under Presstitute Follies.

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

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