Festival of absurdities

Out of time for a few days but couldn´t miss registering this:

More economists are convinced the Federal Reserve won’t take further action to spur growth this year as the economy appears to be on firmer footing, according to The Wall Street Journal’s monthly economic-forecasting survey.

Thirty-six of the 51 economists surveyed, not all of whom answer every question, say the central bank will refrain from another round of large-scale bond buying in 2012. The number who expect no action is up from 30 in the January survey.

“An entrenched upturn in growth, albeit anemic relative to history, is entering a sweet spot,” said Allen Sinai of Decision Economics. He noted that with the economy expanding at an adequate pace, the Fed should remain on the sidelines.

That´s surely a complete transformation of the meaning of “adequate”. By all means, let´s keep playing the “I´m happy game”.

And Janet Yellen says; “Get used to low rates” (all the way to 2015). When some say the economy´s pace is “adequate”, others say things are going to be miserable for at least another three years.

Maybe that´s what “Japan sweet” tastes like.