This baffling quote just appeared in Jack Healy's roundup of bad news in the markets, posted six minutes ago on nytimes.com. Anybody know what the hell this guy Ryan Detrick is talking about?
And a new report that jobless claims had crested to their highest levels in 16 years reminded investors that the frail economy continues to weaken.
“We think it’s going to continue to go lower,” said Ryan Detrick of Schaeffer’s Investment Research. “We don’t think people are scared enough. They’re just not showing enough fear. People are numb to this, they’re almost immune to it.”
Ryan Detrick really needs to get out more.
Everyone we know is scared to death of this economy. And no one we know is immune.