Conventional Wisdom Wrong Again!
Oops, they did it again!
Just weeks ago, the pouting pundits were predicting near-zero GDP growth in the first quarter.
Instead, last Friday's report showed real growth at a 3.2% annualized rate. And Q2 looks likely to come in above 3% as well.
For the umpteenth time, Conventional Wisdom said the growth was over. The economy – and markets – had reached their peak.
Just because wisdom is conventional, doesn't mean it's correct.