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Not Confident, But Buying Anyway
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The post-downgrade week on the stock markets showed off something the analysts never seem to take into account: Some of their metrics are bullsh-t. Take consumer confidence, which is often used as an excuse to sell, sell, sell. The latest consumer confidence survey showed that it was lower this month than at any time since 1980. Sell! But then retail sales figures came out and showed that sales are actually up. So the poll, on people's "feelings," conflicted with people's actual behavior. The evidence says that the economy is not collapsing. The "feelings" polls show problems. So, on what are decisions on selling and buying based? (Los Angeles Times)
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