The lead story on Bloomberg is about economists growing more bullish on the US economy. It starts off with this bit of hall-of-fame forecasting.
At Morgan Stanley in New York, Chief U.S. Economist Vincent Reinhart now sees a 3 percent pace of growth in the first quarter, up from 0.8 percent in December. JPMorgan Chase & Co.’s Bruce Kasman raised his forecast to 3.3 percent from 1 percent.
Those two genius economists — whose forecasts missed by more than two percentage points — then go on to make some other sort of crystal ball predictions for the rest of the year but all I could think when reading it was:
