Economists are whores. Want one to say she loves - two bits. Want one to say what you want to hear - two bits.

What does the WSJ want to hear?

LMAO.

"Of course, given how few economists were raising red flags during the boom years that set us up for this month, it's questionable whether we should care at all about the results of this survey."

Well said. It's hard to take these guys seriously since they went right over the cliff with the rest of us.

i do believe your last sentence said it all.

Economists? I don't know how they managed to have datas that are not back up scientifically. Not an exact science. Most often time they off the line. Maybe we should just use the dice to see who is right or wrong among the economist. I agree though that Gaithner is more than goofy in his decision to bail out merril lynch.

Hey, while the old saying is that you could put 40 in a room and get 40 different opinions - there are at least two that saw this coming.
Blogging stocks had Epstien with warnings and "Dr. Doom" Rubini has called this from way back. Since we have thousands and thousands that match your last line it does not say too much for them as a group. But on the same note there were few in Washington that knew what was going on either and that includes the pseudo government Federal Reserve. Considering that the economic mess is worldwide, it may hold the record for "Ostrich syndrome" for centuries. It is also easy to believe that all of the ostrich's had their heads in other than the sand. Perhaps, the proverbial "dark place"?

GEITHNER & RANGEL TO BE SUBPOENAED IN TAX FRAUD CASE

Federal Case Alleges Political Elite Get Favorable Tax Treatment Over Ordinary Citizens

On 5 March 2009 a Motion was filed in U.S. v. David Jacquot, Case # CR 08-1171, in the Federal District Court, in San Diego, California seeking to dismiss a false tax return indictment on the grounds that the Defendant was not treated in the same manner as politically prominent individuals. A hearing on this matter is set for 30 March 2009 in San Diego and the Defendant in this case intends to subpoena Secretary of the Treasury Timothy Geithner, House Ways and Means Chairman Charles Rangel, former Senate Majority Leader Tom Daschle, and others.

The Defendant in this case is David Jacquot, an attorney and retired Army Officer. He is a decorated disabled Desert Storm veteran living in rural Idaho with his family.

This “Geithner Motion” cites HR 735 titled the “Rangel Rule Act of 2009,” which if enacted, would eliminate penalties and interest for common citizens to allow them to be treated in the same manner as House Ways and Means Chairman Representative Charles Rangel. The Geithner Motion also quotes President Obama stressing the need to “treat common citizens in the same manner as politically prominent individuals in regards to tax matters”.

The Geithner Motion details how Mr. Jacquot was vindictively indicted in retaliation for his successful defense of his clients against the IRS. The tax returns of his corporate law firm for the four (4) years of 2001 to 2004 were investigated and the government alleges that the law firm declared almost $200,000 TOO MUCH income during this time period. The Geithner Motion contains descriptions of numerous actions by the government and Assistant U.S. Attorney (AUSA) Faith Devine that are the basis for the claim of retaliation against Mr. Jacquot for his zealous representation of his client’s Constitutional and statutory rights. The improper actions of AUSA Devine have been reported to the DOJ Office of Professional Responsibility for disciplinary action and are currently under review.

A copy of the Geithner Motion can be downloaded at:

www.jacquotlaw.com/vindictive-prosecution.html