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Mr. Rosenblatt's prediction: "I don't think it's going to be a stiff," like the H.P. TouchPad, "but its success will be moderate".
It is likely, he says, that inflation will be moderate, and that the overall trend for the economy and the stock market will be quite positive.
Long-term rates may rise further this year as the Fed increases short-term rates, Mr. Sohn said, but the increase will be moderate, so bond investors have no reason to panic.
Other analysts, however, say the recovery will be moderate, in part because the recent rise in longer-term interest rates is putting a drag on housing, through higher mortgage rates, and on corporate investment.
Could this be his way of signalling to the ideological right that proposed constitutional change, should it come, will be moderate, largely symbolic and absent of guarantees against future racial discrimination?
It may be that the technology will in the end prove much less powerful than it seems today, or that people will be moderate and careful in their application of it.
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