The G-7 met.
Paulson gave his recitation.
What are we to believe?
Are these guys really this stupid?
Hey Mr Fantasy, play a tune, one that will make us all get short...
Is that the plan:
to get market players short and selling stocks then to reveal a real plan?
It is hard to believe that anyone who worked on Wall Street could witness what has happened over the past week and not go into the G-7 meeting with a sense of purpose. Of course, these guys and their 'sherpas' have been communicating all week long. And THIS is all they have to show for it?
'We are still working on it' hardly cuts it does it?
So are they low-balling us?
Are they clueless?
Are they at loggerheads with one another?
And if THEY are, explain Paulson's nonchalance.
This does not seem not like a meeting that is coming in the midst of a tempest as it really is. It seems more like an academic soiree held in the semi wilderness of Jackson Hole Wy.
I am pessimistic on the face of what the G-7 wrote and what Paulson did.
Am I wrong?