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

[Sandwichman <lumpoflabor@xxxxxxxxx>]

The fundamentals are mental.

On Fri, Mar 6, 2009 at 4:06 PM, Eugene Coyle <eugenecoyle@xxxxxxx> wrote:
> 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.
>
>
> --
> Never get into fights with ugly people, they have nothing to lose.
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-- 
Sandwichman
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