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  • From: "Lisa K.V. Perry" <lisakvperry AT gmail.com>
  • To: homestead AT lists.ibiblio.org
  • Subject: Re: [Homestead] Housing bubble fizzle
  • Date: Fri, 21 Jul 2006 11:00:21 -0400

On 7/21/06, Clansgian AT wmconnect.com <Gene wrote:

> The eyes of the world are upon him. Like Greenspan, Bernanke knows that
his words can move markets, so he is circumspect. Circumspection does not
include untruth.


James said:

Your protasis is self evident, but the conclusion, while right, wants
refining. Bernanke can sneeze the wrong way and uninte ntionally affect
broad markets and while circumspection cannot include out right mendacity,
it cannot include the stark truth either. <snip>

Notice that Bernanke himself didn't say "soft landing". He said
"orderly". What does that mean? It smacks of Greenspan's comment that the
markets were "frothy". "Orderly" sounds like the very sort of clucking,
soothing sounds someone would say to keep people from panicking in a real
emergency.


I vividly recall when Greenspan said the "frothy" comment. I chuckled for
days afterwards every time I recalled it, I had a vision of a pot on the
stove boiling away, in a frothy state. Or of a rabid dog,
foaming--frothy--at the mouth. In fact, my mental image went further and I
saw Greenspan getting worked up testifying before Congress, and it was he
who was getting frothy at the mouth.

Not getting involved, but thoroughly enjoying your conversation.

Lisa




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