The lack of coverage of this is a PERFECT example of the common agenda that drives TV financial "news". (CNBC & al needs more viewers & markets need more new money.) Together, Equity, Bond & media people are desperately trying to pressure our "independent" Fed to stop raising ff rates NOW. Why? Because our risk takers today are only comfortable risking free money. Wall St. companies just reported in '05, 175,000 workers averaged $125,000 BONUSES. What did the S&P500 return, < 4%? The bonuses came from M&A activity. Anyone think the buying companies were using real earnings to pay for their purchases, or were they using funny money & "projected" future sales numbers? I believe our economy's in real trouble folks, & the longer it continues, the worse the consequences. But, what the heck, the Bush Administration's got a plan, it knows what it's doing. Right?

Roubini comments on his Blog: "The more important implications of the speech for future tighter monetary policy in the presence of asset bubbles - be it in housing or other markets - was totally and altogether ignored."
RGE - Geithner vs. Greenspan/Bernanke on Asset Prices and Monetary Policy

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