June 04, 2003

"It is too early to get any real fix on the American economy in the period ahead .. There are indications that we are stabilizing, and there is some indication of a return [sic] but it is at this stage not by any means clear .. The best that we can judge is that the acceleration has not yet begun".

These are the remarks of: 1) a stock analyst faking an understanding of the economy in order to impress his clients 2) Alan Greenspan. He also said this:

We have concluded ... inflation was not something of significance for the Federal Reserve to be concerned about, which means that we would be far more inclined -- as we have had over the last several years -- to be taking out insurance against economic weakness.

Alan Greenspan is going to be taking out some insurance for you. A little fire protection plan, perhaps. Doesn't that make you feel all safe and warm?

Posted by Greg Ransom