Genius party at Davos. Here's what
the world's economic Einsteins are saying to us mere mortals:
"What we have now are the foreseeable consequences of bad economic management.''
- Joseph Stiglitz, the 2001 Nobel Memorial Prize winner for economics
"In this case the U.S. is going to have a protracted case of pneumonia.''
- Nouriel Roubini, chairman of New York-based Roubini Global Economics, citing the maxim that if the U.S. economy sneezes, the rest of the world catches a cold
The U.S. economy is "resilient, its structure sound, and its long-term economic fundamentals are healthy. And our economy will remain a leading engine of global economic growth.''
- U.S. Secretary of State Condoleezza Rice
That last one is probably also true, but it sure stinks of pig lipstick.