Sunday, December 28, 2008

Predictions and Predilections

Eric Weiner examines confirmation bias in economic reporting here, while elsewhere Foreign Policy Magazine issues "The 10 Worst Predictions for 2008." My favorite:

“Peter writes: ‘Should I be worried about Bear Stearns in terms of liquidity and get my money out of there?’ No! No! No! Bear Stearns is fine! Do not take your money out. … Bear Stearns is not in trouble. I mean, if anything they’re more likely to be taken over. Don’t move your money from Bear! That’s just being silly! Don’t be silly!” —Jim Cramer, responding to a viewer’s e-mail on CNBC’s Mad Money, March 11, 2008

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