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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 387.98+1.3%Nov 28 4:00 PM EST
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To: Cogito Ergo Sum who wrote (28184)1/23/2008 12:52:24 AM
From: Elroy Jetson  Read Replies (1) of 218092
 
Three quotes from the January 22, 2008 PBS "Nightly Business Report" regarding the current insane Monetarist attempts to prevent business cycles."

"Frankly I think the Fed is irrelevant here. We have an over-leveraged economy and an over-leveraged consumer and cheaper money is not going to solve our problem. We have to go through a protracted and painful deleveraging process."

. . . Michael Metz, Chief Investment Strategist of Oppenheimer and Co.

"The stimulus package is stimulating selling. If everybody in the government is nervous enough that the Fed is aggressively cutting and we're looking for ways to get that helicopter up in the air to drop money on people, then they must have seen something that was a little bit more frightening than we know so far."

. . . Art Cashin, UBS Director of NYSE Floor Operations

Asked about the George Bush "Free Money Bonanza" "I think borrowing from some people in order to give to money other people, and its going to be a little late anyway when they get it, will just needlessly raise the deficit and start us off at a worse point when we do start recovering and healing."

. . . Bob McTeer, former Dallas Fed President
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