This blog post originally appeared on RealMoney Silver on Oct. 5 at 7:37 a.m. EDT.
Hyperbole has been making the rounds on Wall Street, so without further ado, here are the 20 dumbest declarations and beliefs that I've been witness to lately.
Today's non-farm payroll report is the most important economic release in memory.
meeting is the most important meeting of the year.
Monday's oil inventory data is the most important release for the energy products markets of the year.
October's housing sales release is the most important residential real estate report of the year.
The third-quarter GDP report is the most important economic number of the year.
Next month's CPI is the most important inflation statistic of the year.
The U.S. dollar is at its most critical point in history.
The 14,000 level in the
is the most significant resistance point in this stock market cycle.
The 4.50% yield on the 10-year U.S. note is at the most critical point in the interest rate cycle.
John Chambers recently stated that the global economy is "as strong as I have ever seen it."
Ben Bernanke recently said, "It is not the responsibility of the Federal Reserve -- nor would it be appropriate -- to protect lenders and investors from the consequences of their financial decisions."
The housing market's downturn will have a limited impact on the domestic economy. (See
Anything said by the National Association of Home Builders.
A weak U.S. consumer will have a limited impact on world economic expansion. (See
A falling U.S. dollar is irrelevant to the capital markets.
The prices of energy and food products bears little on the consumers' disposable incomes and spending patterns.
The Fed's actions come at no cost.
The Fed's actions help those who most need it. (See
Never question your brokerage firm's intentions.
Investors have learned from history.
At time of publication, Kass and/or his funds held no positions in the stocks mentioned, although holdings can change at any time.
Doug Kass is founder and president of Seabreeze Partners Management, Inc., and the general partner and investment manager of Seabreeze Partners Short LP and Seabreeze Partners Short Offshore Fund, Ltd.