Blog on the Run: Reloaded

Wednesday, April 28, 2010 11:02 pm

But the economy is getting better! Really!

Filed under: We're so screwed — Lex @ 11:02 pm
Tags: , , ,

Tyler Durden:

“… there is nothing more to this rally that free money and banks’ last ditch attempt to lock in another year of record bonuses before it all goes to shit.”

Jeremy Grantham:

“There is nothing more dangerous and damaging to the economy than a great asset bubble that breaks, and this is something that the Fed never seems to get. Under Greenspan’s incredible leadership he managed to give us the tech bubble, and by keeping interest rates at negative levels for three years drove up the housing bubble, and finally the risk bubble. And Bernanke has happily picked up the mantle, and seems totally unconcerned about creating yet another bubble. He has interest rates so low banks can’t possibly not make a fortune. Savers are being penalized, anyone who wants to buy cash faces a painful experience, and so we are all tempted into speculating, which is apparently what he wants and we’ve just had one of the great speculative rallies in history, second only to 1932-33.”

Well, you two gentlemen can just rock me to sleep tonight.

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