Optimistic Unemployment and Housing Forecasts Looking Downright Silly

Economics may be the "dismal science" but economists as a group sure seem to be an optimistic lot. Yes, there are a handful of "doomers" like Nouriel Roubini but most economists did not see the recession coming until it was already 10 months old.

Let's take a look at all the Fed's adverse assumptions for the recently conducted "stress-free test" as laid out in the Fed's Stress Test White Paper.