Monday, November 16, 2009

The two-handed economy

Harry Truman is credited with saying he wished for a "one-handed economist" because his economic advisors were always prefacing advice with, "on the one hand...but on the other hand." Apparently, having two hands still comes in "handy" for economists. Today, USA Today includes an article indicating that several statistics point to a sluggish economy in the coming months. However, the story also notes that slow growth may be good as it will discourage the Federal Reserve from continuing its interest-raising pattern. Small business optimism is up, according to NFIB's most recent survey. But on the other hand, a month earlier it was down. Fuel prices are up, but on the other hand, they're moving lower. I guess having two hands is always good for economists: one to hold the glass that is half-full, the other to hold the one that is half-empty.

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