You may recall reading the "slasher" headlines last week.
The good news is that the mainstream media in just a few short days may be tempering the "slasher" montra. In fact on Monday, CNNmoney covered a similar story about forecasts of GDP growth later this year.
But instead of a slasher mentality, the article clearly points to recovery starting in summer and solid GDP growth in 2010.
Further the CNN Money report quotes forecasters pointing to a bounce in stocks: "The economists are forecasting a healthy recovery in stocks from current levels, estimating the Standard & Poor's 500 will end the year at 975, which would be 26% above current levels and a gain of 8% from where it started the year."
The report is far from a totally "good news" story. However, it is a significant mainstream media shift from the completely overblown dire commentary of the past few months.
"a gain of 8% from where it started the year."
ReplyDeleteIn other words, we will have a completely average and normal year in the markets and will not crash every year from here on out forever and ever.
Who would have thought? ;)