First he states that he never told Ken Lewis to remain quiet, and then he talks up the economy, claiming the recession will end this year when he knows damn well the worst is yet to come. http://www.bloomberg.com/apps/news?pid=20601087&sid=aBbRzOM34Cj8&refer=home
Actually, he seems to be the only one who half -way knows what is going on. He paints a false picture, I agree.
Let's not forget, he didn't see the train wreck coming at all. He is an overpaid knucklehead, as far as I'm concerned. I don't care how many Harvard degrees he has, he still doesn't know how to tie his shoes.
No, but he actually manages to piss me off more with each successive mouth opening event, because he's now deep into the spider web. He could have just tried a dose of honesty beginning last year, but lied in many ways about economic conditions, and then told his whopper today about how he never told Ken Lewis to remain quiet. Oh, what a tangled web we weave, when first we practice to deceive ...â - Sir Walter Scott
This is politics... nothing evil. You have to limit all pessimistic realities and spin enough to portray an optimistic outcome. No one of high importance from the government, particularly from the FED, can say that the economy is horrible and it will get worse. This would result in: 1) panic from the average American 2) a self-critique of the failed policies of the FED and more broadly the government. I will mention two other thoughts relating to any worst to come predictions. First, price action, price action, price action. The S&P 500 is rallying and this is caused by the "smart" money and not the layman investor. Secondly, as a short history lesson, there have been so many doomsday "worse is yet to come" predictions and the vast majority turn out to be untrue. I'm bearish too... I stubbornly still own some FAZ at $12.32 but price action and history is proving me wrong.
David Letterman ridiculed former Secretary of State Warren Christopher by calling him a ''yard gnome". Bennie would make a good "yard gnome" as well.
Neither did Greenie. Neither did "100 PhDs on the Fed's staff"..... Either they're all nincompoops or LIARS!
True. A lot of the current administration have not been out in the so-called "real world." High IQ , low common sense.