Gotta Laugh

Congressman Barney Frank: "I think the economy is getting ready to take off."

It's bad enough when those who represent us won't (or can't) do the job they were elected to do. But when they act like they have a clue about business, finance, and economics, all you can do is laugh.

(Hat tip to The Cynical Economist.)

Comments

[roger]

Customizing the facts to fit the theory.
A common behavior,some do it knowingly
others are not even aware of it.

[Tyrone]

Hmmmm... Bawney Fwank thinks the economy is ready to take off.
Didn't he think Fannie and Freddie were safe and sound???
http://www.youtube.com/watch?v=ahtuNt3AKCg#t=4m50s

[Laurent]

Don't laugh this guy is right. In order to crash you have to take off!

[mountainaires]

When they "act like" they don't have a clue. Most of them seriously do NOT have a clue. And shouldn't be representing a constituency, any constituency, anywhere. But, whose fault is that? Voters, who "act like" they don't have a clue either!

[MS Student]

jobs seem to be coming back except the market is so flooded with unemployed/underemployed and let alone people trying to get out of jobs they can't take. you need to know someone in the company in order to just get an interview.

[ErgoDan]

Simply more pre-election Happy Talk.

ALL IS WELL!!! REMAIN CALM!!!!!!

[Terry Younkin]

So we're all thinking, "What a buffoon." Except, maybe he's right. If your "business" is one of the TBTF institutions who have skyrocketed to profitability through government-approved accounting tricks and taxpayer-funded bailouts, you would probably agree with him.

[Bailouts create rightiousness among the elite...]

Keiser Report” teaser: Not enough bailouts: ‘Suck it in and cope!’

http://tinyurl.com/2777j2l

[Barney]

I suspect he's right. It will take off at 32 ft/sec/sec as it heads over the final cliff.

[DavosSherman]

he is an effing moron!

[roger]

maybe he should check this before speaking.
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/8026324/Gold-is-the-final-refuge-against-universal-currency-debasement.html

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[Real Deal]

But he didn't take off to where. He knows something we don't ...

[luke]

In my 3 part time jobs which I work (because I can't find a real job at age 58) I am told innumerous times that an individual is out of work, can't find a thing--"can someone get a discount if they pay cash?". To borrow a great quote, "What fresh hell is this?" (see Dorothy Parker). There are no real jobs at certain ages. Do not believe the jobs are coming back. Make the adjustments and banish the "deer in the headlights" look. You will be ahead of the game in what lies ahead and the new reality of coping with less. Much less.

[The Real Deal]

Luke:
In America, the established culture is freedom, opportunities, market capitalism, individuality. But consider the other side:

Freedom - yes, but matching responsibility
Opportunity - yes, but you're on you own
Capitalism - yes, but winners take all, losers lost all
Individuality - yes, but don't count on the government to take care of you; it take cares of those who successfully lobby

So those who failed in personal responsibility the exercise of freedom (aka reckless), who lost and now on your own with insufficient savings, who see billions paid out to the elites but received no individual help, are simply working in the same system. But on the other side.