Ben Bernanke
Red Sky Morning
02/August/2010 11:00 Filed in: Oikos
Thoughts | Web News
For
some reason, early Friday morning I awoke, and
normally my first instinct is to look out the
window to see if it is still dark, then check the
clock. What I saw outside was an unusual pink glow
in the eastern sky. When I looked to the clock it
was about 5 AM. I confirmed the window view again
and decided this morning’s red sky was so intense I
needed to go outside and check it out further.
Out on the deck, to the South the sky was almost black, like it was about to rain heavily. To the North it was just and overcast gray, but that eastern red sky morning was still very intense, illuminating the summit of the mountain across the river, were the sun will eventually rise to the point where direct rays will hit my place about two and a half hours later. I stood there watching while the red slowly return to the normal predawn grayness. I decided to go back to bed.
As I lay there I began to think about the old sailor’s rhyme, “Red sky at morning — sailors take warning. Red sky at night — sailors delight.” It had been very dry and hot for the last few weeks, so I thought a little, or a lot of rain would be a relief, but I mused that natural red sky weather report may also be a reality report on our economic future.
Most of the procrastinators and the pundits have stated that the recession is over but slow economic growth seems to be with us for some time. Even FED chairman Bernanke coined a now oft repeated “unusually uncertain” term to describe this current morning. When you look towards the sky further to the South however, you hear the dark sky reports of the bad weather of a stormy future — of maybe even a double dip recession.
I guess what that all means is that all the people who make the big bucks and those who don’t, really don’t have a clue to what the future holds, and that is especially true in the unnatural world of global economics. It seems to me, if professionals, who spend their whole life trying to figure out the economy, should be able to do a better job.
Read More...
Out on the deck, to the South the sky was almost black, like it was about to rain heavily. To the North it was just and overcast gray, but that eastern red sky morning was still very intense, illuminating the summit of the mountain across the river, were the sun will eventually rise to the point where direct rays will hit my place about two and a half hours later. I stood there watching while the red slowly return to the normal predawn grayness. I decided to go back to bed.
As I lay there I began to think about the old sailor’s rhyme, “Red sky at morning — sailors take warning. Red sky at night — sailors delight.” It had been very dry and hot for the last few weeks, so I thought a little, or a lot of rain would be a relief, but I mused that natural red sky weather report may also be a reality report on our economic future.
Most of the procrastinators and the pundits have stated that the recession is over but slow economic growth seems to be with us for some time. Even FED chairman Bernanke coined a now oft repeated “unusually uncertain” term to describe this current morning. When you look towards the sky further to the South however, you hear the dark sky reports of the bad weather of a stormy future — of maybe even a double dip recession.
I guess what that all means is that all the people who make the big bucks and those who don’t, really don’t have a clue to what the future holds, and that is especially true in the unnatural world of global economics. It seems to me, if professionals, who spend their whole life trying to figure out the economy, should be able to do a better job.
Read More...