O'Neill was like the offensive line of the Green Bay Packers playing in a dome -- they can't hear signals. O'Neill couldn't hear the signals the White House was sending, and they got rid of him. Presumably, Snow has better hearing.
More Quotes from Paul Kasriel:
Now, of course, a lot of it ... was in auto sales and production is probably going to flatten out in the months ahead.Paul Kasriel
If Republicans were to regain control of the Senate, the probabilities of some major tax cuts would go up quite dramatically. If those tax cuts were implemented, this would have a positive impact on both the economy and the stock market.
Paul Kasriel
The creation of credit by the Fed, just like the scrip printed by a counterfeiter, does not result in the increased supply of energy.
Paul Kasriel
Given all the other spending we're having to do for homeland defense and the military, my suspicion is that inflation is going to be higher than what the White House thinks and probably what economists in the Blue Chip survey and Congress think as well. Historically, when we've seen a pickup in government spending concentrated in military spending, you tend to get somewhat higher inflation.
Paul Kasriel
What'll happen is you'll see bond yields spiking higher, the dollar spiking lower and the Fed then having to raise rates, ... At that time, housing will probably start to weaken, stocks won't do well, and our standard of living will go down.
Paul Kasriel
Fed policy-makers think their job now is to play a supporting role. They kind of want to drift into the background.
Paul Kasriel
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