Friday, July 10, 2009

No More Stimulus!!

Almost all economists have reached the correct conclusion, though I wonder how some of them reached it. But, just eight of 51 economists in The Wall Street Journal's latest forecasting survey said more stimulus is necessary.

From there it was down hill for survey participants.

Most economists were generally supportive of the Obama administration's plan to overhaul financial regulations. Some 44% said the proposal was acceptable given political realities, while 15% said it would make the financial system safer.

93% of respondents said Ben Bernanke should be reappointed as Fed chairman by President Obama early next year.

Got that? 93% in favor of more of roller coaster Ben Bernanke!!? No wonder most economists never spot key inflection points in the economy.

1 comment:

  1. Do you think there's political intention behind Bernanke's whipsaw? That is, do you think the Fed's intent is not just a misguided attempt to control the economy, but actively intended to make the administration's political goals more palatable?