Markets Discover Recession. Act Surprised.

Markets are amazing discounting machines — they just don’t always discount anything useful or important. Case in point: Their belated discovery today that not only are we in a consumer-led recession, but that said recession is going to continue and deepen into 2009.

Amazing. Truly.

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As an aside, the carnage in commodities is also impressive, with copper off big, oil touching $70, etc. Turns out that during recessions people buy less raw materials. Gosh.

Related posts:

  1. Recession/Stagflation Watch
  2. Jim Hamilton Doing Recession Probabilities
  3. Probability of U.S. Recession in 2008
  4. Preparing for the U.S. Recession
  5. Gas Prices, Exports and the "Jobs Recession" Thing