Robert Barbera
April 08, 2010
Economic Optimism
Floyd Norris has a column in today's New York Times arguing that the economic recovery may be stronger than everybody expects. Both parties seem interested in downplaying good news, he points out. Plus, economic forecasters tend to miss both sharp downturns and sharp upswings: [I]t is normal for recessions to make people pessimistic. “Go back and read what people were saying in 1982 or 1975,” said Robert Barbera, the chief economist of ITG. “Nobody was saying, ‘Deep recession, big recovery.’ It is quite normal to expect an abnormally weak recovery.
