What’s Wrong with a Boom and Bust Economy…
Posted by Ray on September 11, 2009 under Main | 
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Maria Bartiromo just uttered those words on CNBC. Clearly, she has nothing to worry about with a boom and bust economy since she really never has to worry about losing her job. In fact, that very job security is perhaps why CNBC has little regard for the effect markets have on ordinary people. It may also explain why they are always bullish, even when they are clearly wrong, because being bullish is more fun for them.
Maria, here is what is wrong with a boom and bust economy, in the real world, which I pulled from CNBC.com; “It’s home to Disneyland — “the happiest place on earth” — but deputies enforcing home evictions in Anaheim find mold, backed-up plumbing, marijuana crops, abandoned grandparents and the occasional suicide.”
Do you get it now? I am sure you don’t, but maybe, just maybe you will.
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Tags: boom and bust, cnbc, financial crisis, Maria Bartiromo
Johnnymustardseed said,
One third of my employees have lost their homes because banks think that it is better to raise interest rates to 11% from 6% and then foreclose. There is a reason CNBC has poor ratings… they don’t get it!
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