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	<title>Comments on: Federal Reserve Policymakers Stand Up to Wall Street&#8217;s  Easy-Money Crowd</title>
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		<title>By: Ed</title>
		<link>http://www.moneymorning.com/2008/09/17/us-federal-reserve-2/comment-page-1/#comment-9779</link>
		<dc:creator>Ed</dc:creator>
		<pubDate>Wed, 17 Sep 2008 14:54:13 +0000</pubDate>
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		<description>The market has proven once again that even our brightest minds cannot grasp the complexity of its dynamics. Will we ever learn this truth? While economics makes for interesting speculation (Martin is certainly perceptive concerning several possibilities) can any of us really see clearly? Humility and integrity dictates that none of us can answer that we always see clearly. Those that were right about 2000-2002 are wrong now and used to brag about it are wrong now. Soon we will be hearing of those that were right now. But truth is none of us really completely understood what was to follow nor do we know exactly how this will all pan out. If we did we would have bailed out of equities last October (I did for much of my wife&#039;s 401k in December), we would have bailed out of energy and materials in June of this year (i still hold some of mine...ouch). So i confess i am fallible as well.  

There was one who really understood the economy and the times in which he lived and he was only able to foresee and plan correctly because he could interpret the dreams of the pharaoh of Egypt. His name was Joseph and he correctly predicted seven years of feast and seven years of famine. He then managed the Egyptian economy wisely based upon his insights and Egypt grew richer during both feast and famine years (perhaps we need a Joseph as economic advisor to rise up and counsel our government). Maybe if we can&#039;t have a Joseph then we at least need divine mercy and grace...maybe the saying on our money &quot;in God we trust&quot; might actually mean something to us. Perhaps one of our influential economists might actually get an answer from heaven and persuade our government on the course of action to take or not to take. Perhaps the rest of us can pray &quot;God please be merciful and help us in America to be a blessing as You bless us.&quot;</description>
		<content:encoded><![CDATA[<p>The market has proven once again that even our brightest minds cannot grasp the complexity of its dynamics. Will we ever learn this truth? While economics makes for interesting speculation (Martin is certainly perceptive concerning several possibilities) can any of us really see clearly? Humility and integrity dictates that none of us can answer that we always see clearly. Those that were right about 2000-2002 are wrong now and used to brag about it are wrong now. Soon we will be hearing of those that were right now. But truth is none of us really completely understood what was to follow nor do we know exactly how this will all pan out. If we did we would have bailed out of equities last October (I did for much of my wife&#8217;s 401k in December), we would have bailed out of energy and materials in June of this year (i still hold some of mine&#8230;ouch). So i confess i am fallible as well.  </p>
<p>There was one who really understood the economy and the times in which he lived and he was only able to foresee and plan correctly because he could interpret the dreams of the pharaoh of Egypt. His name was Joseph and he correctly predicted seven years of feast and seven years of famine. He then managed the Egyptian economy wisely based upon his insights and Egypt grew richer during both feast and famine years (perhaps we need a Joseph as economic advisor to rise up and counsel our government). Maybe if we can&#8217;t have a Joseph then we at least need divine mercy and grace&#8230;maybe the saying on our money &#8220;in God we trust&#8221; might actually mean something to us. Perhaps one of our influential economists might actually get an answer from heaven and persuade our government on the course of action to take or not to take. Perhaps the rest of us can pray &#8220;God please be merciful and help us in America to be a blessing as You bless us.&#8221;</p>
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