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Major Insider Take On What Is Ahead for the Economy

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In August, I reported on John Carney’s post about Evercore Partners founder and chairman Roger Altman, an ultimate insider, hosting the wedding of Alison Fisher, the daughter of Dallas Federal Reserve President Richard Fisher.

Carney has an important follow-up piece, since Altman is now out with an op-ed in the Financial Times. Carney explains why this op-ed is very important:

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Roger Altman’s op-ed in the Financial Times argues that although our current financial slump may have a few more years to run, we’re likely headed for another boom.

Altman’s piece deserves attention not just because he is on most shortlists of Treasury Secretary candidates in a second Obama administration, but because it was very likely written while Altman — currently chairman of Evercore Partners— was in the company of some of the most important economists and central bankers in the United States.

This past weekend, Altman was in Jackson Hole, Wyoming for the wedding of Alison Fisher, his goddaughter. Alison is the daughter of Dallas Fed president Richard Fisher.

But this was not the only event in Jackson Hole this weekend. The Kansas City Fed’s economic symposium, which has developed into one of the most important central banking conferences of the year, was also held in Jackson over the weekend.

To emphasize, Altman was most likely writing his op-ed after spending time in the company of some of the brightest and most influential economic minds of our time. His piece really should be read as the final contribution to the symposium.

So what does Altman see in the future? Carney summarizes Altman’s FT piece:


Rising home prices. Home prices are rising in half of the major housing markets in the U.S.

Booming energy production. Gas and oil production in the U.S. has increased at “breathtaking” rates.

Financial sector health. The banking sector, nearly nationalized while on its deathbed just a few years ago, has recovered faster than anyone thought possible.

Competitiveness. A few years ago, we were becoming a post-industrial nation. Now we’re back in the game of making big, hard things.

Budget balancing. Here Altman gets a bit partisan, predicting that an Obama re-election could result in a budget deal that brings down our mounting debt levels.


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    Total 8 comments
    • Oldenough

      What a piece of B.S Propaganda.

      Hook, line and sinker? Not a chance, I’m not biting.

    • Anonymous

      Yeah, housing prices are going up. Great. More people who can’t afford them can go into debt slavery over property that’s only worth half of the selling price. The only reason prices are going up is because the banks are sitting on the foreclosure inventory only allowing a few houses to be sold at a time. This creates the illusion of a shortage and people start bidding wars on houses again. Just another market that’s totally manipulated.

    • Anonymous

      None of it is true.

    • Anonymous

      Huh, there’s nothing there about how Facebook is about to do a turnaround and become worth ten times its present value in the next couple of weeks. LOL!

    • Anonymous

      There is likely an arrest warrant with his name on it.

      • Whiskey Zero

        not likely…more like a golden ticket plus a get out of jail free card. You however, are hereby instructed to proceed to FEMA lockup and not collect your rations for 1 turn.

    • Anonymous

      I won’t even click on the “more here” button for this BS article.

    • Marshal de Saxe

      I like the part about the unicorns….

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