Alan Greenspan, Idiot.
Alan Greenspan, history will not be kind.
Alan Greenspan, a truly confused man.
Isn't it about time for him to say something really stupid (and CYA) about housing again?
Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets. We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past.
But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade? And how do we factor that assessment into monetary policy?
We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs, and price stability.
Indeed, the sharp stock market break of 1987 had few negative consequences for the economy. But we should not underestimate or become complacent about the complexity of the interactions of asset markets and the economy.
Thus, evaluating shifts in balance sheets generally, and in asset prices particularly, must be an integral part of the development of monetary policy.
December 08, 2006
Too bad he didn't listen to his own advice. I give you Alan Greenspan, December 5, 1996. Irrational exuberance.
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34 comments:
Greedscam is the ugliest MF on the planet. Hands down winner.
And who gave him "The presidential medal of freedom"? What a picture that is...
Someday it will be found in the looted remnants of the Smithsonian, with the caption hadwritten in "The two guys who took down the U.S. from the inside."
Paul Bremer got the same medal from Bushie
Can we recall them?
I still laugh at Americans for the blind acceptance of 2000 Presidential candidates Al Gore and GW Bush. Both these idiots praised Alan Greensperm and his marvelous US Economy(read trillion dollar debt bubble)
And remember the Y2000 debates on how to best spend the "surplus"! There never was any surplus. The US economy has been operating below breakeven for decades and decades.
Anderson Windows in Wisconsin just layed off 440 workers due to the collapse in housing. Here is the headline:
"Andersen blames housing slowdown for layoffs
440 will lose jobs Jan. 2 in Bayport, Menomonie"
our unemloyment rate and GDP growth and freedoms blow away most countries of the world hands down..
having been to many of the "Socialist " countries of the world, even duing the old "iron curtain " days, can assure you its far from better under those systems..
why not choose to live elsewhere then if you think we have such a horrible conomy all the time???
". . .having been to many of the "Socialist " countries of the world, even duing the old "iron curtain " days, can assure you its far from better under those systems.."
the US is a socialist nation, too; it's just a centrally planned rentier-financier corporate-socialist or militarist imperialist corporate-statist system. mussolini and hitler would have recognized our system as fascist, i.e., the merger of the largest corporations and the state under a military command-and-control structure with the facade of democracy or representative gov't.
in fact, the world is steadily evolving toward varying forms of fascism, including in russia, china, singapore, japan, south korea, thailand, israel, and the EU+. fascism is the logical extension of increasing state intervention in the economy and increasing miltarization of the society/economy.
Road to Serfdom and here.
I just hope this little jew commie lives long enough to witness a REAL holocaust.
Honica,
You are one hateful dude, you need to turn your life around and be a little more positive towards others, or youlll have lived a wasted life...do you wake up every day feeling hate, if so you dont need blogs you need a psychiatrist...
Lol, I'm married to one....no BS.
Honica,
man thats about the funniest thing ive heard-
you really got to get over hate though for real, you get what you give whatever happened to "love thy neighbor" wasnt that said once by some famous rabbi named Jesus?
Anyway, sending love your way, if you want to come back with hate , thats your choice not mine, dude..
PS the karma thing does work, really , send out good vibes good comes back to you..
You guys are too hard on Honica.
In fact, he is essential to the debate by playing the devil's advocate.
So, while I do not necessarily agree with him on most things (I do on some), I do appreciate the fact that he presents the opportunity for reflection and debate.
Do you folks not feel a need to hold greeny the sheeny responsible for the destruction he has wreaked on our nation?
Why do you call holding someone accountable for their actions "hate"?
what calling somone some ethnic or religious slur and joking about a holocaust of ANY group is merely playing devils advocate to the housing market debate..
man are you all this whacko.. why dont you go to some hate group websites to post instead then and call people of various religions, minorities, countries etc nasty names on those websites with happy loving people of like persuasion...
honica,
you can call anyone responsbile for their actions and thats not hate
but calling someone "a little commie jew" is a little different
sort of like michael richards , he could have blamed those guys in the audience for heckling, that wouldnt be hate ,, but instead used derogatory comments ie the N word etc, thats more like hate
My bet is that you are not stupid, just hateful and have something against certain groups and know exactly what youre saying and mean it, so this whole discussion is a wast of time, your probably a nasty bigot who likes to be derogatory towards others in public message boards more likely...
bad attitude, bad karma, most likely...
Meh, I think my karma is pretty darn good. I consider myself a very lucky man actually..... But, let's not threadjack this greeny the sheeny thread. This thread is about the little commie jew, not me.
fine enough said here, youre hopeless then and would probably have most fun at hate group message boards where you can spout out even more vile comments about anyone different then you who you blame for any problems...
I was looking for a housing discussion and its a shame that you insist on souring it a little for people who dont believe in spewing out slurs towards others or reading them..
but you obviously dont care about this and have no manners feelings or class, loser
Perhaps you might be enlightened somewhat by reading that thick tome "Atlas Shrugged" by Ayn Rand. Alan Greenspan was one of the "Inner Circle". There are some interesting observations from "Empire of Debt" concerning Mr. Greenspan's treatise on gold. IIRC when asked about that treatise fairly recently, Mr. Greenspan said he wouldn't change a thing.
So go read what the objectivists say about contradiction, then put that in your pipe and smoke it.
--Moe.
honica,
you can call anyone responsbile for their actions and thats not hate
but calling someone "a little commie jew" is a little different
sort of like michael richards , he could have blamed those guys in the audience for heckling, that wouldnt be hate ,, but instead used derogatory comments ie the N word etc, thats more like hate
===================================
Hey Greenspan's policies have killed people so a little name calling is mild by comparison.
As far as Michael Richards, dont be a putz! Richards used to work with Andy Kaufmann who was the master at provoking the audience. Richards was trying to do the same thing but it backfired. Maybe intentionally backfired. You never know with the media just what they are up to.
I wonder whether Alan Greenspan was turning senile, literally.
But seriously guys, A.G. thought he was being honest and ethical as he saw it.
If you want to look at the real true culprits, there are people far far worse than A.G. Think about those who destroy US technological base in the name of short-term profits?
In the end, money is just the units you count in---what happens in the real-world economy of humans and atoms matters the most by far.
Manufacturing industries can be improved faster by applying the discoveries of science and engineers' hard work. This generates more fundametnal wealth for the nation overall (but not to the company).
The idea that the US can pick up the 'high-value' side of the science while exporting all the other stuff is farcical. You need smart engineers and scientists directly on the plant to see how things really work to know how to improve them.
China knows this: all members of their Central Committee have degrees in science or engineering.
It's definitely more difficult to be profitable----and more rewarding to the nation as a whole.
Look at Japan. Japan has lots of mfg companies with modest profitability, and yet the nation is very rich. Don't believe the hype of such a 'malaise' or slowdown---if you go there you would recognize how well off they are. And with tax rates similar to the US they have universal high-tech health care and great longevity.
Japan has banking and political problems which hurt them, but as they are getting fixed they will increase and China will explode in wealth because they have the fundamental engineering knowledge and will to put it in production.
The US will have great venture capital for barber shops, a "nation of a shopkeeper (Wal-mart)" without the empire.
What a cop out: "how do we know when irrational exuberance has unduly escalated asset values?". Um, when prices exceed the value determined by reference to long-standing fundamentals of that asset? You're supposed to be America's top economist/banker and you just shrug your shoulders and say you can't figure it out.
The guy is completely arrogant in every other decision yet in this one he claims he just can't tell what's going on. Well, I don't believe him. I think he knew all along exactly what he was doing.
Ofcourse he knew, Everyone was doing it. Stock options that is, unreported to other shareholders. But this is greeny the sheeny we're talking about here. Is it really any stretch of the imagination that he would turn a blind eye to a giant JEW scam? Shoot, he was making a killing off of it as well.
This was a SET UP. Why is this so hard to understand. Get buyers on legal contracts, change bankruptcy law, and all those who refiance [about 70%] file judgements if they don't agree to banks new 50 year loan repayment plan. The federal reserve are private banks for one purpose only; make money for themselves. Any doubt, due your RESEARCH. It is all there to see for those not to lazy to look.
Honica,
its not a JEW scam , asshole, why dont you go to some hate board where you belong, and you can knock jews christians muslims blacks whites hispanics whoever you want ,, how bout talking about housing here
are you even physically capable of posting without a slur towrds jes or whatever , or are you that much of a sicko that you cant help yourself..
Dude, we're talking economics here. If you had ever worked in this field, you would realize how hard it is to discuss it without mentioning the blood-lusting, Christ-murdering jews.
Oh, and by the way, you should'nt cuss on this blog, that's inappropriate.
Honica,
well you simp;y have a problem then,
and by the way Jesus was a Jewish Rabbi, mr clueless, Im sure he wouldnt have invited a bigot like you to passover supper, LOL
anyway you just dont get it and want to live your life hating others thats your choice , I have nothing further to say about it to you, just feel sorry for you though, living eith an empty heart
enough said
last word- you certainly arent following the jesus I know- you dont have a clue as to his message, but merry xmas...
Hmmm, I remember him saying "You jews are not of god, you are of your father THE DEVIL, and your fathers works ye shall do...."
he wouldnt have said that, the apostles all jewish too.. better look up your bible and the context...
John 8:44 & 8:47, sounds like YOU need to look over the scriptures and quit listening to these lying scumbag preachers. Do you know that they have to be taught by the jew con-trolled world council of churches?
Not only was Jesus Jewish, the Catholic Church has known it and made a deliberate effort to cover it up, literally, these 2000 years.. How so, you ask ? Look at all those crucifixes.
http://en.wikipedia.org/wiki/Crucifix
You always see Jesus on there with a loin cloth across his errr. err.. private parts.. That is not because of modesty ! That is because of - well if they didn't do the cover up, his Jewishness would be visible in all its nakedness.
-K
The Last Supper was passover.
D'oh!
The speeches and analogies about the 'blood' and the 'body' directly parallel the passover service. The 'blood', represented as the wine at dinner, remembers (not celebrates) the sacrifice of the Pharoah's 1st born, the 'body' is the lamb shankbone similar to that used in the Temple services in Jerusalem.
The Catholics got it confused and somehow substituted the matzah, that bland cracker, for the 'body'. Where did that come from?
From the passover it would clearly be represented by something rather more body like, which is explicitly described as the lamb.
Just think, if it wasn't muffed you could get eat a tasty BBQ every Sunday instead of lining up for that dreadful wafer.
Alan Greenspan on the cross:
"Indications of my personal fate are hampered by the conflicting exogenous inputs, tempered by thorn-induced heteroskedasticity in serotonin, but indications show the market's excessive deflationary spiritual future expectations are substantially biased and the messianic policy committe predicts a resumption of normal apostolic activity shortly following conventional pharisee market clearing normalcy."
Supply Side Jesus: "Hey Alan, Look on the light side of life! And don't let those Maccabean Temple Protectionists get you down!"
STOP FEEDING THE TROLLS - ESPECIALLY HONICA!
Sorry Keith, I tried to divert the them back to the thread subject earlier, it did'nt work, I won't feed them again.
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