THE TREASURY SECRETARY FROM IBD

I noted below some economic nonsense from an Investor's Business Daily editorial last May and Barry Ritholtz found some commentary by Kate Wellings that shows our dear Secretary of the Treasury was saying pretty much the same nonsense at the same time:

May 7, 2008: 'The worst is likely to be behind us. .There's no doubt that things feel better today, by alot, than they did in March.' http://www.forbes.com/markets/feeds/afx/2008/05/07/afx4978703.html


May 16, 2008: 'The fiscal stimulus will provide support to the economy as we weather the housing correction, capital markets turmoil and higher energy and food prices. .Although we are still working through housing and capital markets issues, and expect to be doing so for some time, we also expect to see a faster pace of economic growth before the end of the year. .In my judgment, we are closer to the end of the market turmoil than the beginning. Looking forward, I expect that financial markets will be driven less by the recent turmoil and more by broader economic conditions and, specifically, by the recovery of the housing sector.'
http://www.cbsnews.com/stories/2008/05/16/business/main4103698.shtml?source=RSSattr=Business_4103698