The Trouble With Economists

this from the nYT:

Greenspan Concedes That the Fed Failed to Gauge the Bubble

little could be done to identify a bubble before it burst, much less to pop it.

Even a small child at a tea party can identify an inflating balloon. Granted, he may not know that it is about to pop, but after the age of six, she knows that it will.

What’s the difference between a weatherman and an economist? An economist can’t even tell you what happened yesterday.

Wall Street Televised:

investors took time out from trading to watch Woods apologize for his marital infidelity and “repeated irresponsible behavior.”

New York Stock Exchange volume fell to about 1 million shares, the lowest level of the day at the time, in the minute Woods began a televised speech from Ponte Vedra Beach, Florida, headquarters of the U.S. PGA Tour. Trading shot to about 6 million when the speech ended, the highest for any period except just after exchanges opened, data compiled by Bloomberg show.

The bears of WS enjoying the melodrama that they can’t live. Gossip girrls a twitter between tickers and ticklers. These are the giants of gain. A very limp game being played by these boys. Beware, they play it with your toys.