At different times and in different places, Fed officials have changed their stories about whether or not bubbles can be seen before they pop.
Peter Schmidt
Peter Schmidt has two degrees in mechanical engineering from Lehigh University and is a licensed professional mechanical engineer in California and the great state of Louisiana. He is writing a book on the financial crisis entitled, Elites in Name Only. This book documents the perfect storm of central planning, economic ignorance and hubris emanating from the Clinton Administration, Ivy League economic departments, Wall Street and, most importantly, the Federal Reserve that led to the crisis.
