He whipped out THE GREAT CRASH: 1929, by John Kenneth Galbraith, which the Ex sent him for Christmas. (BW is starting college on Jan. 20 as an economics major.)
From Galbraith's new introduction, written in 1997:
Always when markets are in trouble, the phrases are the same: "The economic situation is fundamentally sound" or simply "The fundamentals are good." All who hear these words should know that something is wrong.Last night, BW, Darling Husband and I had dinner with Chris Matthews. (OK, we ate off trays while watching "Hardball," on DVR.) Yesterday's show listed the best and worst political moments of 2008. Guess what was #1 in "Biggest general election moments"?
"The fundamentals of our economy are strong."
"We all didn’t quite see what was happening.”
--Margaret Hedberg, director of the International Debutante Ball, per the NY Times.
She brushed off the $14,000 cost of a table — “Watches cost more.”
--Marie Antoinette. Oops! I mean Margaret Hedberg.