I read Bill Fleckenstein's column, The Contrarian Chronicles, over at the MSN Money site every week. I stole that headline from a subhead in this week's piece.
Because of the stupid way that MSN indexes things on that site, I have to have a Google News Alert to find the article for me, but I digress. Fleckenstein, certainly not a member of the Sunshine Blower's Club[1], has this to say regarding Easy Al's testimony before Congress last week:
As for the man who could never fill so much as the toe box of Volcker's shoes, Easy Al gave himself a gold star Tuesday morning when he told the Senate Banking Committee, "The performance of the U.S. economy has been most impressive in recent years, in the face of staggering shocks that in years past would almost surely have been destabilizing."
What's ironic about that is: The financial shocks have been 100% the result of his reckless policies.
There's plenty of fresh meat here for Fed Watchers.
[1]To paraphrase "The Family Guy": What's Wall Street made of? Sunshine and Farts!
Posted by nicole at June 21, 2004 07:23 PM