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
- A New Target for Old Spies: Congress
- Antigua and Barbuda Asks Harvard University for Slavery Reparations
- Historian: Nixon DID contest the 1960 election
- Killer took selfie after stabbing historian over rare ‘Wind in the Willows’ book
- VW fires corporate historian who drew attention to wartime ties to Nazis
- British historian Sheila Lecoeur is on trial for defamation
- Jim Downs laments that Americans still aren’t being taught LGBT history
- Historian Jeremy Kuzmarov calls on Obama to pardon Ethel Rosenberg
- Garry Wills says there’s one human test we can use to decide who’s the better candidate: Trump or Clinton
- Get to Know the Semifinalists for the National Book Award