Loony Tunes meets Economics

If you, dear Reader, should have an account at Wells Fargo, you might have noticed January's edition of "Economic Indicators." Upon reading this drivel, we reached the conclusion that it was written by the horses. The writer, a Dr. Scott Anderson, vice president and senior economist of Wells Fargo, really should have both his grammar and his head checked.

One part right at the beginning got us thinking:

"There is very little in the economic tea leaves to give economists hope that a recovery is nigh. I am not one to dwell on doom and gloom. Honestly, I'm not sure how much more bad news readers can take."

Oh, really? Then step aside, Scott. We here at the Depression Gazette know all about bad news. That's why Google generates so many adds about psychological depression: they know we're up to no good.

Seriously, though... despite 'Dr.' Anderson's wishes to the contrary, the economy will not stop crashing when people stop reading bad news. Wells Fargo seems to implicitly understand this, given their disclaimer at the bottom of the first page. Nonetheless, it is a huge disservice to the bank's customers to pass off this sort of trash.

Big banks like Wells Fargo have portrayed themselves as the safest place for the lumpeninvestors to park their savings. With all the recent 'office redecoration,' banks like Wells Fargo should bend over backwards to prove to their customers that they are more responsible than their competitors.

We are absolutely certain that this sort of disinformation will continue into the future. It will only make the eventual fallout from the collapse of such big banks all the more damaging... and well-deserved.