Waiting to See How the Austrian-Lites Explain This

Austrian-lites recently went on a tear making new forecasts that the economy was in recession or soon to get there.

They misunderstood the short-lived inversion in the yield curve and were totally clueless about the technical spike in overnight fund rates (that had nothing to do with a financial crisis).

Now that the dust is cleared, here is what we have instead:




From the Financial Times this morning:

From MarketWatch this morning :

(Note: It wasn't a surprise to EPJ Daily Alert readers.)

Also from MarketWatch this morning:

This is not what a recession looks like, not even close.

The Fed-manipulated business cycle is active but we remain in the boom phase. It will bust eventually but that is not happening now or in the near future.

-RW

UPDATE