Tuesday, September 30, 2008
Weekend at Bernie-anke's
Remember the movie “Weekend at Bernies” where Bernie died and his two associates kept him “virtually” alive all weekend for the beach party? The current financial markets sure do feel a lot like Bernie. And how about Fed Chairman Bernanke. He’s holding Greenspan’s bag and trying to figure out what to do. He’s standing at the podium trying to explain Greenspan’s sins. Isn’t it ironic that he’s a student of The Great Depression? The Fed will only lengthen the correction. Don’t try to control Adam Smith’s “invisible hand”.