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New WH chief economist got rid of the current account deficit ALREADY!

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Career Prole Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-25-05 04:00 PM
Original message
New WH chief economist got rid of the current account deficit ALREADY!
"Mr. Bernanke argued recently that the US current account deficit should be seen as a glut of savings relative to investment opportunities outside the US, rather than the direct result of the US fiscal deficit."

http://news.yahoo.com/s/ft/20050525/bs_ft/05ff981acd4a11d9aa2600000e2511c8

WOOHOO! The deficit is actually...er, savings...um, which are, ohhh, somewhere else, shall we say?

I'm sooooo relieved!
:woohoo:

No wonder he's on the short list to replace Greenspan...the guy can spin like Hans Christian Andersen.


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kedrys Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-25-05 04:07 PM
Response to Original message
1. My head is tired of exploding.
:yawn:

We need an exploding head smilie.
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Viva_La_Revolution Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-25-05 04:12 PM
Response to Reply #1
5. ...
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Career Prole Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-25-05 04:50 PM
Response to Reply #5
11. An exploding head!
And it looks like a freeeper!
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driver8 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-25-05 04:51 PM
Response to Reply #1
12. My head hasn't exploded yet...and the pressure is unbearable!!
Spin, spin, spin...lie, lie, lie...bullshit, bullshit, bullshit...

Is anyone in this administration in touch with reality???
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Javaman Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-25-05 04:08 PM
Response to Original message
2. I'm going to have this guy talk to my credit card company...
I'm sure they would be delighted to hear his reasoning.
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Hugin Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-25-05 04:12 PM
Response to Reply #2
4. I tried this line on a CC once...
They laughed and upped my interest rate.

Tacked on a couple of finance penalty fees.

Lobbied for the Bankruptcy Bill.

I don't say things like that to them anymore. They
have no sense of humor.
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woodsprite Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-25-05 04:10 PM
Response to Original message
3. Wouldn't that be Rumplestiltskin? n/t
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Career Prole Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-25-05 04:49 PM
Response to Reply #3
10. Natch! I was just waiting for someone
to spell it for me! :D
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triguy46 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-25-05 04:14 PM
Response to Original message
6. Newspeak
Orwellian.
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sweetheart Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-25-05 04:17 PM
Response to Original message
7. Ha ha ha !!
What a fucking idiot. The white house is now the laughing stock of
every macroeconomist on the planet, not that they weren't before.

It really takes idiots to crash a 747 on autopilot... and that's
pretty much the sort of economists that bush employs, those who crash
economies and can't land them... hmmm... sounds familiar, eh?
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tk2kewl Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-25-05 04:29 PM
Response to Original message
8. Now we get Orwellian economics too.
lovely
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Cleita Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-25-05 04:31 PM
Response to Original message
9. A little white out here; a little white out there; no problem.
Edited on Wed May-25-05 04:34 PM by Cleita
Move a few figures around from the debit to the credit side and vice versa. Poof the deficit disappears.
:eyes:
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