I’ll be on Bloomberg television at 2pm, discussing the weakening economy, today’s Employment data, and yesterday’s big 344 point whackage.
Should be fun!
Media Appearance: Bloomberg TV (09/05/08)
September 5, 2008 1:45pm by Barry Ritholtz
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Paul Volcker: Finance System is ‘Broken’
Shamelessly opportunistic comment spam: VOTE FOR BARACK OBAMA!
“the best living ex Fed Chairman” — not merely the BEST, but the ONLY one that was ever any good.
The rest of them were worth exactly as much as the cotton-fiber paper on which their truckloads of counterfeit currency were printed … and were accorded a similarly arbitrarily-inflated value in the marketplace of ideas.
Like Willie Sutton, Fed chairmen are professional thieves … but with PhDs. Printing money with nothing backing it is larceny; the act of a sociopath.
The peasants of 18th century France had the good sense to run Johnny Law out of town. Credulous 21st century Americans give Helo Ben a corner office in the Eccles Building, as he systematically torches their purchasing power. But the suits and divas on TV say IT’S ALL LEGAL! And you have a choice of parties, both of which just LURVVVVE paper money.
KA-CHING! Heads they win; tails we lose.