Intuition

By Herman Berliner. As an economist, I always await all the major economic data that is released on a regular weekly or monthly or yearly basis.  I always look for the more positive signs of economic growth and prosperity, and I worry when the signs reflect weaknesses or areas of concern.  But what if I didn't have access to all this data?  Could I still tell what was and was not happening? Would I be reduced to visiting a fortune teller on a regular basis? Or isn't this in the cards for me?
For broad trends (as opposed to very nuanced happenings), I would rely on observation and intuition and I would expect to be more right than wrong. Read more...