- advertisements -
Feds cutting spending, States and munis doing the same. Consumers getting scared of oil, as gas goes up .35 in 1 week (discretionary spending just collapsed). Oh yeah...home prices at 2002 levels.
But, the DOW is at the highs last seen in summer, 2008.
My question is: what business has the chairman of the Fed referencing a Goldman Sachs report? I thought he had some (enough) Fed economists working for him.
Sham now the crook is qouting GS who has been in the criminal circle for years now? Boy they are coming out of the closet now.....
His economists wouldn't have passed his course so he doesn't trust them? Plus why not just admit Goldman has been determining fed and treasury policy for at least a few years!
DX plummeting. Is Bernanke talking?
Goldman playing semantic games to curry favor with the White House. Same with Zandi.
what crap is this?
gdp is 15 trillion, 86 billion is 0.6% of gdp. with a little second order effects, that's all we need to know.
hatzius telling bernanke how to read his working papers? wtf!!
let's mine hatzius' data.
down 1% annualised q1, then annualised 1.5% to 2% in q2/q3 then no GDP impact.
unanuallised = 0.25% in q1 then a mid of 0.44% in q1/q2. total 0.69%
simple..not bs, same number..so all we are getting is that spending cuts take effect over 3 quarters..
NEXT! i will send the fed some arithmetic and pay myself 2.5 million a year with fed dollars...
Tips: tips [ at ] zerohedge.com
General: info [ at ] zerohedge.com
Legal: legal [ at ] zerohedge.com
Advertising: ads [ at ] zerohedge.com
Abuse/Complaints: abuse [ at ] zerohedge.com
Advertise With Us
Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide
How to report offensive comments
Notice on Racial Discrimination.