You shouldnt expect to hear this from MSNBC, CNN, ABC, CBS, NBC. The Times did publish it.
“Lehman demonstrated that not only could they raise the capital at a reasonable cost, but that the Fed really had succeeded at stabilizing the financial system,” said Ed Yardeni, the investment strategist. “Lehman was an important test of that.”
Yet, I was reading last week how we are entering the great depression and only a democrat could pull us out of. By creating jobs on the Federal government pays for... umkay
If I am working for a company that makes something and sells it, I am generating some new revenue. If the government pays someone to do something, its from my taxes and is a leech on the economy.
1 comment:
That news report is typical of financial reporting extrapolation. Stocks go up, crisis is over. Stocks down: recession, maybe depression coming!
I wouldn't read too much into this. We may still fall into recession, and the housing crisis may have another year or so of legs. However, it is clear that the worse that is going to happen is another mild recession. The best thing the government can do is ignore it and let the business cycle self-correct.
Of course, this being an election year, the Democrats will claim that Bush destroyed the economy and it will never recover without government intervention.
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