Why Sometimes You Might Admit It's Good to Have the Old Guys in Charge of Things
*** updated and bumped to the top ***
"Federal Reserve Chairman Ben Bernanke said Monday the current economic situation bears 'no comparison' to the much deeper crisis of the 1930s Great Depression.
" '... you hear a lot of loose talk, but let me just ... say, as a scholar of the Great Depression — and I've written books about the Depression and been very interested in this since I was in graduate school, there's no comparison,' Bernanke said in a question period after an address in Austin, Texas. "
UPDATED, December 3rd:
or maybe the Old Guys shouldn't all be in charge; some a them are responsible for the "loose talk" afore-mentioned:
"A top executive of Chrysler LLC cautioned Wednesday that a carmaker collapse could send the economy spiraling into a depression...
"Federal Reserve Chairman Ben Bernanke said Monday the current economic situation bears 'no comparison' to the much deeper crisis of the 1930s Great Depression.
" '... you hear a lot of loose talk, but let me just ... say, as a scholar of the Great Depression — and I've written books about the Depression and been very interested in this since I was in graduate school, there's no comparison,' Bernanke said in a question period after an address in Austin, Texas. "
UPDATED, December 3rd:
or maybe the Old Guys shouldn't all be in charge; some a them are responsible for the "loose talk" afore-mentioned:
"A top executive of Chrysler LLC cautioned Wednesday that a carmaker collapse could send the economy spiraling into a depression...
Jim Press, Chrysler's vice chairman, said ... US automakers were 'down to months left,' as industry officials ratcheted up a fierce lobbying push to persuade Congress to approve as much as $34 billion in emergency aid.
'We're on the brink with the U.S. auto manufacturing industry,' Press told The Associated Press in an interview. 'If we have a catastrophic failure of one of these car companies, in this tender environment for the economy, it's a huge blow. It could trigger a depression.' "
Attn, Mr. Bernanke's office: please call Mr. Press' office ASAP, and bring him up to speed...
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