Re: [Pen-l] Statements that don't look good in hindsight

[Eugene Coyle <eugenecoyle@xxxxxxx>]

Don't forget Casey Mulligan, full professor at the U. of Chicago, in the NY Times, Oct 10, 2008.  Here's a snip from the middle of his OP Ed saying all is well:

It turns out that John McCain, who was widely mocked for saying that “the fundamentals of our economy are strong,” was actually right. We’re in a financial crisis, not an economic crisis. We’re not entering a second Great Depression.

How do we know? Well, the economy outside the financial sector is healthier than it seems.

Gene Coyle

On Mar 6, 2009, at 1:17 PM, raghu wrote:

How about this piece of wisdom from Ben Bernanke as late as May 2007:

"Given the fundamental factors in place that should support the demand
for housing, we believe the effect of the troubles in the subprime
sector on the broader housing market will likely be limited."

-raghu.


--
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