Fleckenstein: FedRes Idiots Wrong, Big Problems in Europe & US!
- Fleckenstein – Fed Idiots Wrong, Big Problems in Europe & US!
On the heels of the release of the Fed statement and the Bernanke press conference, today King World News interviewed Bill Fleckenstein, President of Fleckenstein Capital, to get his take on the situation. Fleckenstein told KWN the economy will roll over, Europe will go into the abyss and the Fed will be forced to ease. He also described the Fed as “idiots” and said they are completely wrong about what they are saying: “Let’s take a step back for a second. Who are these people? They’re the same idiots that never saw anything coming. So whatever they think they see or whatever they want to talk about is meaningless because they are probably wrong about what they think.”
They don’t know anything. They’re idiots. They are the cause of the problem. So why do we want to know what the idiots think about about the current state of the economy? Why do we care that they currently think they are so smart and that everything is okay? ….. Given the amount of easing and the size of the fiscal stimulus, we should be having a boom. We can barely get a blip because the economy is broken and they broke it.”
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