Charles Plosser, chairman of the Federal Reserve in Philly and former UofR dean, predicts that things are going to be just peachy by 2009. I’ve always wondered at the opinions of economic professionals who insist that the market is predictable right up until they’re proven wrong. Then, it’s all a mystery. Between “market analysts,” doctors and scientists, is it any wonder we don’t pay much attention to priest anymore? They’re the same damned thing.
And the reason all you suckers are doomed to die penniless is because, of course, you haven’t been reading your bible:
Business briefs | democratandchronicle.com | Democrat and Chronicle
Plosser said the subprime mortgage problem, which sparked the U.S. economic downturn, highlights the need for increased financial literacy.”This episode should be a lesson in the importance of economic education — that both consumers and businesses alike would be better served if financial literacy were a greater priority.”
