Fed’s Yellen: “A Fog of Confusion” : HousingWire
by Tom on October 15, 2008
in Market Musings
Federal Reserve Bank of San Francisco president Janet Yellen suggested on Tuesday evening that the U.S. economy has fallen into a broad recession, and said that prospects for recovery rest on restoring some semblance of normal functioning to the nation’s financial markets.
via Fed’s Yellen: “A Fog of Confusion” : HousingWire
You know, one thing that all of these speakers don’t mention is their definition of normal. By “normal functioning” does Janet Yellen mean the loose credit to anyone who could fog a mirror days?
Normal is changing folks and we aren’t going to go back to the way things were. We need to define a new normal and a new normal for the credit markets is going to define a new normal for the rest of the economy.
Tom Vanderwell
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