How The Doomers Got It Wrong

Economics blogger Bill McBride was one of the early people to call the housing bubble, and he warned furiously in the years leading up to the collapse that the epidemic of no-doc loans and boats-in-every-garage would come to a terrible end. But unlike many other "doomsayers" who continued to warn about economic collapse long past 2009 (their names don't need mentioning... you know who they are), McBride was able to see the leg up, and has remained upbeat since the economy started growing again. What did he see that so many others missed? One of the things I really liked hearing from Bill McBride, in my recent interview with him, was his simple way of thinking about the economy, and what makes it tick. His spot-on assessments of the US economy over the past 9 years haven't been about fancy models, or big economic theories, but rather very simple, direct observatio...