Herb Greenberg Calls Out Larry Kudlow

Following last week’s NYT coverage of the blogger debate on excessive negativity, I was amused when I saw this blog post from my pal Herb Greenberg:

"But to be taken to task for having rightfully proven that much of
America is perched too precariously on too big of a pile of debt — and
that this housing thing wasn’t and still isn’t totally “contained” — is
simply, well, wrong-headed.

(I can still see Larry Kudlow rolling his eyes at me, on set at CNBC,
when I would mention, for the umpteenth time, the significance of the
looming mortgage mess — and that this mess would extend beyond subprime
to cut across all FICO scores; notice that neither Barry nor I have been on his show lately.)"

Now, I’m friendly with Larry, and would never want to embarrass him on the air — but Herb is not the first person to make this point. Indeed, several other people  — including some from CNBC — have also noticed, and commented, on that coincidence.

During the past year, on air, several of Larry’s guests have told me:

- I was too real estate obsessed (2006);
- Sub-prime was contained; (2007)
- Real Estate didn’t matter; Its a small portion of the economy (2006/07)
- The economy is fine (really) (2008)

The last was also the title of a recent self-delusion in the oft-hallucinatory WSJ Op-Ed pages.

Cognitive dissonance can be a bitch . . .

>

Source:
Too Negative — Who, Me?
Herb Greenberg
Marketblog, 7:51:47 PM January 27th, 2008
http://blogs.marketwatch.com/greenberg/2008/01/too-negative-who-me/

 

 

>

~~~
ADS BY GOOGLE


Category: Derivatives, Financial Press, Real Estate

BLS Overstated Job Creation by 14.38% in 2007

For those of you who have been wondering, here is the data on the 2007 Benchmark Revision. The good news is when looking at the total employment situation, believe it or not, BLS was pretty accurate. Their models of employment came within 0.2% of the actually measurement of jobs. Where they fell down was accurately…Read More

Category: Data Analysis, Economy, Employment

U.S. payrolls: Negative 17,000 + Huge Downward Revisions for 2007

Category: Data Analysis, Economy, Employment

NFP Day!

Category: Employment

Microsoft Takeover Bid for Yahoo!

Category: M&A

Overstated Job Growth & the Annual Establishment Survey Benchmarking

Category: Data Analysis, Employment, Wages & Income

Quote of the Day: Ludwig von Mises

Category: Federal Reserve, Inflation, Politics

Influence Ripples + Tipping Points

Category: Markets, Psychology, Web/Tech, Weblogs

Violence Erupts at Barron’s

Category: Financial Press, Psychology

Media Appearance: Fox Business News

Category: Media