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Thursday, April 26, 2012

Bill Fleckenstein says:
The Federal Reserve are "Idiots" 
"They are the cause of the problems" - Is He Right?
"Who are these people? They’re the same idiots that never saw anything coming. So whatever they think they see or whatever they want to talk about is meaningless because they are probably wrong about what they think .. They basically said, ‘We’re going to keep doing what we’re doing because we kind of think it’s working and we don’t think we have to do too much anymore.’ ‘But if we have to, we will.’ .. The fact of the matter is Europe is a basket case, the world is slowing down and the U.S. was artificially aided by statistical seasonal adjustments .. The economy is not that strong, the Fed is wrong .. Do you remember when they thought the subprime crisis was contained? They don’t know anything. They’re idiots. They are the cause of the problem." Photo courtesy of William Bonzai7 - link here to that site
- Bill Fleckenstein, Fund Manager

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