I BLAME BUSH. SO... WHY ARE MARKETS SO JITTERY!? IT'S THAT BLABBERMOUTH GREENSPAN'S FAULT - SAITH ME & KUDLOW:
U.S. incomes rose much more sharply than expected in January, while spending and core consumer price growth also outpaced forecasts, a government report showed on Thursday. Incomes rose 1.0 percent in January, marking their biggest gain in a year and doubling an unrevised 0.5 percent gain for December, while January consumer spending rose 0.5 percent after a 0.7 percent increase in December, the Commerce Department reported. Analysts polled by Reuters had expected personal income to rise just 0.3 percent, and personal consumption expenditures to rise 0.4 percent.GLOBE AND MAIL/AP:
The Commerce Department reported Thursday that personal incomes rose by 1 per cent in January while consumer spending was up by 0.5 per cent. The income advance was the largest since a 1.3 per cent jump in January, 2006, and both the income and spending gains were bigger than had been expected.
Why is Alan Greenspan ignoring all this evidence? Why is he second-guessing Ben Bernanke? Former Fed Chairman Paul Volcker never second-guessed Greenspan when he was replaced in 1987. Why Greenspan is doing all this is beyond me.HEY GREENSPAN: STFU.
It seems like lucrative speech-fee troublemaking to me.
Or is Greenspan promoting his book due out in September? Maybe he's trying to match Bill Clinton's $40 million in speaking fees? Perhaps he's playing the Jimmy Carter game, where the former peanut farmer tirelessly attacks Republican President George W. Bush, and who before that, constantly criticized Papa Bush and Ronald Reagan?
All this stuff from Greenspan, Clinton, and Carter is a new low in bad manners. It is totally unseemly.