Second Step: Fire All The Experts (Again!)
An update to our post yesterday on all the so-called experts who repeatedly and consistently fail to “expect” bad economic news. This morning, NBC News allows a genius at the Federal Reserve named Eric Rosengren to tell us all that … he and his colleagues at the central bank failed to see the economic collapse coming and were surprised by its severity.
“… this recession looks to be longer and more severe than originally forecast.”
Golly, stop the presses! What a shocker! The people we rely on to assess and safeguard the health of our economy blew it, bad. Again and again, for many years. And now we’re in a huge crisis because of it. Thanks for the info, Eric. And thanks for giving this guy a national platform to speak his stunning truths, NBC.
Then again, maybe we should quit being so gloomy. After all, Rosengren says he’s got a hunch that better days are coming:
“Still, there are indications that the second half of the year will show improvement”
Mm-hm. Right. And we should believe you, Mr. Rosengren, because, um … why exactly should we believe you?
It would appear that the adage : The first generation earns it (WW2 Vets ) and the second generation blows it ; has some merit.
An Ivy league degree just goes to show you, all to often it is worthless and to inbred for the health of our town’s, cities’s and nation health. It’s graduated ranks are not worth much. The Exalted One Bush was Ivy (thanks to mummy and dadkins) and so are many of those who manipulated markets, with clever little ideas, that have bankrupted the nation and themselves. Oh that’s right the taxpayer saved people like Eric Rosengren’s of the world, with the bank bailout funds, so they could recieve their year end bonuses.God Bless Em.
In a way, I am sort of happy Madoff, made off with so many weathy people’s money. To the point they are kaput. They jumped on the Titanic, to join us regular folk. How honorable of them. To bad Madoff didn’t share the loot like Robin Hood.
Several months ago before Congress the former head of the Fed, MR Nose and Ear Hair himself said the same thing.( Eric you have committed plagerism.You have no ideas at all, of your own.) Nose hair was stunned at the depth and lenth of the recession. Wonder what he thinks about the depression we are in now.
A sound, real farmer citizen, is who should be heading up the dismantling of the Fed.
Treasury Secretary, the woman who really runs the office.
State, a yoga teacher with Howard Roark, as a team.Or a coal miner and an auto worker.Lumberjack and steelworker is fine too.
Defense, first I would get rid of the Secretary of Offense and their team.
The sad and harsh reality is crap has risen to the top in politics and finance. Because smart people usuaslly don’t go near elected or appointed office or become, goverment lawyers, lobbyists and appointees.
Changes must occor quickly. If we are to enjoy our Constitutional Rights to life, liberty and the pursuit of happiness.
The Citizens by vote must clear DC, state capitals and local goverments of incumbants. All around, with only the rarest of exceptions.NOW!!! Ok in 2010.
The Bushes,Eric’s, Paulson’s, Bernakes of the world must be swept by vote and true economic force away. People who serve in the future term limits, must be really vetted and walk the streets they serve. Asking voters not for money but for what is on their minds.Drive their own car. Not a limo with a page in back too. MR Foley.
1:48 am in CA, Goodnight Y’all