The Pessimism Of Economics Bloggers

“Economics bloggers seem the most pessimistic in their outlook on the U.S. economy so far for 2011,” according to the Kauffman Foundation’s latest quarterly survey of 200 economics bloggers, including the views of yours truly. According to the report, 96% of the bloggers polled think overall economic conditions are “mixed, facing recession, or in recession.”

Taking a closer look at the numbers, those in the mixed camp constitute 55% of the respondents, with another 25% saying that the economy is facing a new recession and another 16% predicting the economy is weak and already in a downturn. Suffice to say, economics bloggers are in a dour mood.
Now for the $64,000 question: Is this pessimism a contrarian indicator? Stay tuned for the answer…