Should-Read: Joe Weisenthal: On Twitter

Should-Read: I agree with Joe Weisenthal. Certainly I did not have incomprehensible optimism back in 2009/2010. And to the extent I was hopeful, the hope drained away quickly with every talk I had with Obama Administration or European technocrats describing what they were facing. Someday I hope Christie Romer will write up her impressions of the Federal Reserve’s Jackson Hole Conference—kind of a Masque of the Red Death situation in terms of being clueless as to what was about to go down. The financiers and policymakers were happy because a Great Depression had been avoided and because ultra-low interest rates had boosted asset values and made them close to whole. But…: Joe Weisenthal: On Twitter: “Every time I see a version of this chart (this time from Deutsche Bank’s Torsten Slok) I’m blown away by what seems (in retrospect) to be incomprehensible optimism back in 2009/2010…”