I think that’s not going to spill more broadly into the economy and so I think we’re going to have a normal kind of housing cycle through the middle of the year. (Lewis Alexander, economist, speaking in early 2007)
I ran across the above quotation in an old column by Andrew Cockburn, The Wall Street White House, and just out of curiosity wondered where such failure would take a man after so misreading the then-coming crisis that would bring our economy to its knees. Was that him I saw trimming a hedge?
Quite not. President Obama appointed Alexander Counselor to Treasury Secretary Timothy Geithner in 2009 where he served until …
New York, September 19, 2011 – Nomura, the global investment bank, is pleased to announce that it has hired Lewis Alexander as Managing Director and US Chief Economist.
Damn! I think all of us chose the wrong career path. There is no failing in neoclassical economics! There is only a phenomenon known in the field of scatology as the “floater”, where an excessive amount of gas in excrement causes it to rise to the surface in water.
Neoclassical economics is the showcase toilet bowl for floaters.
Piece of Mindful 