Seriously, paulson earned an MBA from Harvard. Can that be confirmed?
“I think it’s going to be months that we’re working our way through this period — clearly months,” he said.
“We’re going through a challenging time with our economy. This is a tough time. The three big issues we’re facing right now are, first, the housing correction which is at the heart of the slowdown; secondly, turmoil of the capital markets; and thirdly, the high oil prices, which are going to prolong the slowdown,” he said.
“I’m focused on this stimulus package. It’s made a difference in the second quarter. It’s going to make a difference in the third quarter. We need to watch this very carefully,” he said.
“Right now we’re going through a tough period. There is no doubt about it. But the stimulus plan is making a difference,” he said.
Hank – if you will – the last few months have been a nightmare for “MAIN STREET” AMERICANS compared to the next 6 months. You’re seemingly always a few months behind the times like when you called the economy stable in late 2007/early 2008.
This is not a good thing when you consider he’s the United States Treasury Secretary. I will add that he was nominated by bush and you know how well qualified bush cronies turn out to be.
Ah, the good ole stimulus package that you pushed. It surely did help offset inflation but did nothing to truly stimulate the economy. Great analysis. I can’t wait for Obama to dig us out of compounding debt over the next 8 years.
P.S. Gas prices dropped 15 cents in Michigan – at the same gas station – from a Saturday morning fill up to a Sunday afternoon fill up. $3.50 a gallon gas once we get through the “busy summer driving season” as seen here unless we invade (or continue threatening to invade) Iran…
Update from September 23, 2008: paulson is officially a laughingstock as seen today (9/23) on BccList.com here…