Friday, September 07, 2007

Our So-Called Saviours

clipped from biz.yahoo.com

"Housing is not a problem...housing is fine...housing is a little
softer...housing is weaker than we thought...housing is a lot weaker than we
thought...but it won't affect the economy...housing is affecting the economy but
won't hurt the overall economy...well...maybe the housing is affecting the
economy."

"Subprime lending is good for the economy...subprime is fine...subprime
numbers weakening but not worried...subprime just a small part of economy...subprime
a little worse than we thought...subprime issues worse than expected...subprime
will not affect other areas...subprime affects other areas."

"Housing is stabilizing...housing is stabilizing and bottoming...housing is
bottoming...housing is bottoming...oops...housing worse than we
thought...housing much worse than we thought but will not affect overall
economy...ooops!"

You get the hint. The so-called saviors have been wrong at every instance.