the downturnaround

Henry Blodget Is Smoking the Hopium!

In his time over at Silicon Alley Insider, Henry Blodget has not exactly distinguished himself as Mr. Optimism. In fact, in his unerringly stern commentary, especially about the poor New York Times, we sometimes wondered if he wasn’t still doing penance for his bad-old days as a giddy dot-com analyst.

So imagine our surprise when we read a post today that marshaled a rather impressive array of data suggesting, if far from proving, that the housing market — and possibly the whole dang economy — is no longer in free fall. It was like he lifted his Darth Vader mask and breathed in fresh air for the first time! But then the commenters poisoned it: “Stop smoking the hopium,” wrote one reader.

You’re insane,” wrote another.

You don’t get extra credit for being an optimist… you don’t accrued good will for leading people over a cliff with a smile on their faces. Our system is about to collapse… the whole thing.”

To which Blodget coolly replied: “‘Our system is about to collapse’? Define ‘collapse.’ Back to a barter system? Hunting squirrels in Central Park? Possible, but I doubt it.”

Yeah! We doubt it, too. C’mon, economy, show us your bottom. Don’t make us hunt for squirrels.

Don’t Count Chickens, But Recent Economic News Has Turned [Silicon Alley Insider]

Henry Blodget Is Smoking the Hopium!