A penny for his thoughts?

Ok. At least it's not over here.

Schilling is such an accomplished asshole. I like the way he's so often proclaimed as brilliant because he saw a recession coming.

I knew high school kids that could tell the economy was gonna crash.

When the only reason you're "out" (cough, cough) of a recession is that you've borrowed more money to inflate your GDP figures (a total fraud), this shouldn't come as a surprise. You can't turn an economy around by using bookkeeping gimmicks and denial.

Bob16: Schilling is such an accomplished asshole. I like the way he's so often proclaimed as brilliant because he saw a recession coming.

I knew high school kids that could tell the economy was gonna crash.

Being able to call a recession is different than being able to call it and the cause of it. This applies more to the other SH's (Shiller, Schiff), but it's not earning these guys a lot of friends when they try to warn an ignorant society of what's coming.

What's really scary is that there are financial/economic gurus out there who see these things a mile away, and then there's a mutually-exclusive group of people at the Federal Reserve Bank who are too busy playing god with our fiscal system to see what's really going on, let alone accept the consequences of their actions.