Earlier today, the Conference Board published its consumer confidence index for February, and the "experts" were -- shall I say -- "shocked" to learn that consumers are not as upbeat as they are about the state of the economy.
As before, the Present Situation index -- which represents an average of responses to questions about current business and employment conditions -- remained in the doldrums, hitting its lowest level since February, 1983.
In fact, the percentage of respondents who claimed that business conditions, in particular, are "good" fell to 6.2 percent, an all-time low. No doubt that very small group of optimists includes stock traders, "strategists," economists, policymakers, and Washington lobbyists.
Of course, those who have been reading my blogs and other sites (like most of those listed in my blogrolls) that strive to convey a realistic sense of what is happening in the economy were not surprised at all.
Tell me again, why do these highly-paid clowns -- er, forecasters -- still have jobs?