Overpaid And Useless: A Profession That Needs To Go Away

Weather forecasters get a pretty bad rap for their accuracy.

However, this post isn’t about ripping on weather forecasters.  In fact, quite the opposite.  I bring them up so that I can compare them to another group of individuals whose profession  should really be brought into question.

You see, meteorologists often get blamed whenever a forecast is wrong.  If it rains on a day when sun was predicted, they get called out for a ruined picnic or day at the beach.  Clouds instead of the predicted sun can put a big damper on an outdoor activity.  The list goes on.

As I’ve gotten more interested in weather and looking at things, I’ve actually become a lot more tolerant of meteorologists.  If you look at what they do, it’s in fact pretty amazing that they get it right as often as they do.   They look at weather as it stands, then look at things that are happening hundreds, if not thousands, of miles away, and make predictions on what’s going to happen hours, and even days, down the road.  There are many things that can change, each with potential impact on what actually happens.  If you’re on the East coast and reading this, consider that your forecast for what’s supposed to happen is based on weather that hasn’t even hit land all the way across the continent.

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Slow Economic Growth Doesn’t Surprise Me, Nor Does It Concern Me

The economy has been recovering from the lows in 2008 and 2009.  Few would argue this.

Unemployment rates were well over 10% at the time.

Housing prices were continuing to fall.  Mortgage foreclosures were on the rise and getting worse by the month.  Salaries were flat or falling.

For awhile, the stock market was in a free fall.

It’s gotten better.  Unemployment is around 8%, a modest improvement.

Housing prices in most metropolitan areas have started to rise, or at the very worse, have flattened.  Companies, for the first time in a few years, reported that they were planning on increases wages.

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Why Wall Street Secretly Loves The European Crisis

One of my predictions for 2012 was that Wall Street and the financial markets would begin to ignore the European financial crisis, where Greece and possibly others essentially are having a hard time paying all the money that they’ve borrowed throughout the years.  Last year the market would get hammered on days where anybody expressed a smidgen of fear of something bad happening.

I thought that the dust would settle and that Wall Street would move on.

I was wrong.

For a while in the beginning part of the year, the news about Europe was pretty quiet.  Wall Street did actually shrug off a lot of news, but would still have the occasional freak out about Europe.  In the last couple of weeks, the news is suddenly back out and Wall Street has been freaking out in earnest once again.

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