MICHAEL LEWIS: OBAMA CREATING FALSE ECONOMIC CONFIDENCE
For months as I listened to all the" conversation" about the"green shoots" and watched the stock market going up and up, I had a funny feeling that something is not on the up and up but I dared not write a word. But last night and discovered I was not alone. I tuned in to the last minutes of the Charlie Rose show and heard Michael Lewis, the man Rose said was described to him"as best writer about economics today," express similar sentiments:
CHARLIE ROSE: And you think maybe more bad news is to come.
MICHAEL LEWIS: I do think that. I think that the scope of the losses has not been completely acknowledged by the government. I think that the approach that they’ve taken has been to sort of -- it has been -- you know, it works, up to a point. The Obama administration especially has been very good at creating false confidence, they have been very good at talking up the financial institutions, and it is true that.
CHARLIE ROSE: But it’s not just the Obama administration, I mean, it’s outside the Obama administration. I mean, I saw a ticker go today,"Bank CEOs suggest recovery by end of year."
MICHAEL LEWIS: Right.
You may wish to read (or listen to) the rest. It is not pretty!
comments powered by Disqus
- The most important battle you've probably never heard of
- ISIS is destroying both Shia and Sunni shrines and buildings in Mosul
- Study: Violent radicalism in UK isn't associated with poverty
- CONFIRMED: the Shrine of Jonah/Mosque of Yunus (Nineveh, Mosul, Iraq) has been destroyed
- Chinese President Xi Jinping: Nobody can change history
- Historian who calls bull&%$@ on July 4th parade causes controversy
- This is what motivated history students in high school and middle school can do!
- Obama to award National Humanities Medals to 3 historians
- Historian Curt Gentry, known for Hoover biography and ‘Helter Skelter,’ dies at 83
- Harvard historian: strategy of climate science denial groups 'extremely successful'