Thursday, October 25, 2007

Up 2%, down 2%, up 2%, down 2%

And the stock market yo-yo continues. Once again the news today is bad. Orders for big ticket items fell. Really? Never could have predicted that. Impossible to predict. And how the hell is that even possible when we have Golidlocks economy and Mari on CNBC says the world has never smelled so sweet?

Oh and Alan Greenspan says there is no recession coming so expect the dow at 198,000 any day now. This is a few months after he said there is a good chance there will be a recession. And a few months after he released his book where he pulled the ultimate Bart Simpson "I didn't do it".

No you did do it Al. You lowered rates too much and held them there too long. You encouraged people to be reckless and borrow too much money. You knew very well what was happning but said nothing. You spoke in tongues that nobody understands and yet made everyone think they knew what the hell you were saying. You caused this mess and history will not be kind to you. Sure you are still somewhat or a rock star among the masses. And if you say no recession is coming, people might feel good for a day or two. Then reality will quickly settle in.

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