The shop worn advice about taking things with a grain of sodium chloride should perhaps be cashed in for: Take 'em with a slug of winter.
That's the lesson from the newly released Q1 export numbers. February's decline in exports follows a 0.6% January increase. Expected pick up in demand from China and Europe remains on a wing and a prayer or, perhaps more accurately, the market Pollyanna crowd.
Now the economic pundits will be jockeying for position to see who can guesstimate the closest to the revise numbers that are sure to follow. The Dismal Science profession is one of the few where one gets to revise things until they get close to what the pundits want. It's called Economic Horseshoes.
Forget correct. Just get it close.
If making money in the markets is your goal--and it ought to be--take these pronouncements lightly. Former Fed Chairman Sir Alan was renown for basking in his bathtub with his rubber duck and poring religiously over data for hours. And we all remember how correct he got things.
http://online.wsj.com/news/articles/SB10001424052702303987004579479142470622718?mg=reno64-wsj
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