I haven't blogged in a while as we went skiing with the family. That didn't prevent me from reading my iphone on the slopes and it gave me something to do on the way up.
The first article that caught my eye was of course the Obama/Bernanke optimistic announcements. What was interesting to me was the change in tone. It wasn't technical, it was just ... hopeful.
A part of me wonders if Bernanke's pronouncement is backed by the knowledge that he has ran the printing presses so much, that inflation is inevitable so he confidently forecasts "recovery", meaning inflation of asset prices and thus fake GDP increases in Q2 09.
The other part of me just freaks out, they sound confident because there is nothing else to say to prop confidence. And really there is nothing else the boys can do. At a moment where estimate of losses in the banking system run in the $5T, a paltry $1T in spending is just spin doctoring.