Saturday, November 10, 2007

Bernanke: Shoveling Greenspan's ....Offal

HT Big Picture

"The Bernanke Economic Cycle" by Tim Iacono

1) Federal Reserve cuts interest rates
2) Equity markets surge
3) Dollar decline accelerates
4) The price of oil and gold soar
5) Treasury reiterates "strong dollar policy"
6) Housing market problems get worse
7) Credit market problems get worse
8) Dollar decline accelerates
9) The price of oil and gold soar
10) Federal Reserve talks tough on inflation <----- YESTERDAY
11) Treasury reiterates "strong dollar policy"<----- YESTERDAY
12) Equity markets plunge <------------ YOU ARE HERE
13) Go to step 1

Oh, by the way: the Dow dropped 600 points between Tuesday and Friday this week.

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