Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Saturday, February 21, 2009

Faber: The Fed Created This Recession

From here:

"Our currently disastrous global economy may also be attributed to governments that ignored market signals and central bankers who believed in endless booms, Faber says."
I'm just trying to point out the amount of CrazyTalk out there. In theory, Greenspan felt he could "fool in the bathtub" rates. But I don't think you could say that he ever thought that there would be a Never ending boom, in that classic "Endless summer" kind of mentality.

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