Thursday, October 16, 2008

Question(s) of The Day - Why Now?

Why did it take so long for consensus to accept... oops... I mean sort of consider that the U.S. MIGHT be nearing recession?

Why, after (in some cases) over a year of most standard recessionary indicators flashing bright red, are people only now accepting the reality?

Why did finance professionals largely miss this obvious economic contraction?

Why do they continue to downplay the severity?