One of many roads converging on perdition: quarreling with economic reports.
Many people do, usually for political-conspiracy reasons, but professionals are trained not to. You’re told from day one: “Don’t fight the tape.” Don’t fight the news, or the market.
Today I’m going to.
At dawn today came glorious news: In February the nation added 236,000 jobs, and the prior two months were revised up another 61,000, in sum double the forecast.