Click here for the video. Transcript follows below.
Broadcast on February 13, 2009
BILL MOYERS: Welcome to the Journal. The battle is joined as they say — and here’s the headline that framed it: “High Noon: Geithner v. The American Oligarchs.” The headline is in one of the most informative new sites in the blogosphere called: baselinescenario.com. Here’s the quote that grabbed me:
“There comes a time in every economic crisis, or more specifically, in every struggle to recover from a crisis, when someone steps up to the podium to promise the policies that — they say — will deliver you back to growth. The person has political support, a strong track record, and every incentive to enter the history books. But one nagging question remains. Can this person, your new economic strategist, really break with the vested elites that got you into this much trouble?” Read more…
Economics Banks, collapse, The Fed
There comes a time in every economic crisis or, more specifically, in every struggle to recover from a crisis, when someone steps up to the podium to promise the policies that – they say – will deliver you back to growth. The person has political support, a strong track record, and every incentive to enter the history books. But one nagging question remains.
Can this person, your new economic strategist, really break with the vested elites that got you into this much trouble? Read more…
Economics collapse, debt, Economics, fiscal policy, strategy, The Fed
Capitulation theory holds that when when everyone throws in the towel and is “sure” the market is going further down, that it will then actually go up. A derivative theory, the front page/cartoonist theory holds that when you finally see doom and gloom on the front page of newsmagazines or in the cartoonist’s columns, then “everyone” now “knows” the market is going down further and, yep, at that point it starts going up… or so goes the theory.
Very Best Regards,
Joe
Markets, Portfolio Management economy, performance, Portfolio Management, stock market, Stocks, strategy
Does this rule still really apply?
Comparisons of economic conditions of today with those of the Great Depression abound, as well as comparisons with Japan’s “lost decades”, most implying that we are doomed to a repeat of those woeful eras. We know of course that the Fed did everything wrong in the 30′s and made things worse. Beginning in 1990, the Bank of Japan did everything right but it did no good. Why would this time around be any different? Read more…
Markets economy, fiscal policy, monetary policy, performance, Portfolio Management, stock market, stock picks, Stocks, strategy, The Fed
