[YOUTUBE]HQ79Pt2GNJo[/YOUTUBE]
One comment on the video is classic:
The "GREAT economist speaks:
2005 - no housing bubble
2007- car industry "OK"
2008 - Few small banks may fail (3 wks before Lehman)
2008 - Unemployment will not hit 10% (currently 17%)
2008 - The Fed will not monetize the debt.
2008 - Freddie/Fannie adequately capitalized
2008 - Sub-prime problem contained
It's uncanny - the guy's forecasts have a near 100% failure rate. Man of the Year? LOL
One comment on the video is classic:
The "GREAT economist speaks:
2005 - no housing bubble
2007- car industry "OK"
2008 - Few small banks may fail (3 wks before Lehman)
2008 - Unemployment will not hit 10% (currently 17%)
2008 - The Fed will not monetize the debt.
2008 - Freddie/Fannie adequately capitalized
2008 - Sub-prime problem contained
It's uncanny - the guy's forecasts have a near 100% failure rate. Man of the Year? LOL
Comment