Monday, May 9, 2011

WHEN THE GOING GETS TOUGH, THE LIES GET GOING

"Market jitters bring difficult choice between truth and lies for politicians, spokespeople".

It's true that WHEN THE GOING GETS TOUGH, THE LIES GET GOING....

 

But how to interpret the words of Jean-Claude Juncker, prime minister of Luxembourg, for whom the threat of immediate market turbulence means the usual norms of transparency don't apply.

He is reported to have said that "When it becomes serious, you have to lie". This about markets reactions to Greece's situation bring us back to other lies I wrote about. Then there are lies and inconvenient truth...

Yet for politicians the usual liar paradox applies: "Everything I say is a lie". 

 

Does it apply to some economists as well?

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