Page 1 of 2 12 LastLast
Results 1 to 13 of 22
  1. #1

    Greenspan's take on the recent economic picture

    Seems as though Greenie wouldn't bet against a recession.



    http://money.cnn.com/2008/09/14/news...rss_topstories

  2. #2
    Join Date
    Jan 2007
    Location
    vermont
    Posts
    581
    Now let me see, Greenspan was presiding during the dot com melt down, stated to congress that there was "irrational exuberence" in the market place, but he still lowered interest rates and made it easier for traders to trade in deeper on margin.

    He was also presiding at the beginning of the housing bubble and continued the policy of lowering the discount rate to record lows never before seen in history rates, less than 1%. When are these economists going to learn that when markets are becoming overheated is the time to raise rates not lower them.

    Using the inflation index to base interest rates on is old school (Greenspan) inflation index is manipulated so much these days it is worthless. I see Greenspan as the problem, not someone to listen to about solutions.

  3. #3
    Join Date
    Aug 2001
    Location
    forney texas
    Posts
    17,890
    the only solution is a complete failure of Financials, which will bring us all down to thrid world status. Bush can't get the people of the US to accept Illegal immigrants, so he's letting us become the same as them( hungry, broke and out of work)

  4. #4
    Join Date
    May 2000
    Location
    Rochester, NY, USA
    Posts
    14,192
    Quote Originally Posted by acmanko View Post
    the only solution is a complete failure of Financials, which will bring us all down to thrid world status. Bush can't get the people of the US to accept Illegal immigrants, so he's letting us become the same as them( hungry, broke and out of work)

    uuum an interesting analogy? How did you leap from Financial melt down to Illegal immigrants? AND blaming Bush for all this? The governments job is not to run business, it's job is to govern. Business will take care of it'self

    The only way to out of this financial melt down is to ELIMINATE the FOMC and let the market work it'self out.

    Yep, it's going to be painful, But as they say "STUPID HURTS", remember, even during the plague (Financial melt down) one third of Europe(America) was wiped out but the important thing to remember is that TWO THIRDS survived and then thrived.

    So do everyone a favor, stop letting your hatred of Bush cloud your judgment. This melt down has been coming for the last 15 to 18 years. There is a lot of blame to go around, but Blaming Bush is not going to help, nor is it right.

    You want to blame some one, run down to your local bank and slap your loan officer in the head and tell him/her to wake up.

    sheesh
    BEING AN ADULT

    is the dumbest thing I have ever done

  5. #5
    Join Date
    Aug 2001
    Location
    forney texas
    Posts
    17,890
    The Bank I deal with is sound. Bush is in control, hes' to blame. Next year I get to blame Obama or McCain. so get off your low horse learn how this country works, quit agreeing with either political party and demand something be done. But as History stands,Republicans crash the Economy and Denocrats rebuild it. 1929, 1976, 1987 Republicans were in control of the White house and Finacials sucked then as they do now.
    P.S. I don't hate Bush, matter of fact I voted for him twice for Governor and twice for President. But I do hold him to the higher standards I entrusted to him

  6. #6
    Join Date
    Apr 2005
    Location
    N. E. Missouri
    Posts
    9,750
    Quote Originally Posted by jmac00 View Post
    ... run down to your local bank and slap your loan officer in the head and tell him/her to wake up.
    Only if you promise to bail me out! (actually, knowing some of the loan officers around here, that's a pick me up thought for the afternoon!)
    Do not argue with an idiot. He will drag you down to his level and beat you with experience.

  7. #7
    Join Date
    May 2000
    Location
    Rochester, NY, USA
    Posts
    14,192
    Quote Originally Posted by acmanko View Post
    The Bank I deal with is sound. Bush is in control, hes' to blame. Next year I get to blame Obama or McCain. so get off your low horse learn how this country works, quit agreeing with either political party and demand something be done. But as History stands,Republicans crash the Economy and Denocrats rebuild it. 1929, 1976, 1987 Republicans were in control of the White house and Finacials sucked then as they do now.
    P.S. I don't hate Bush, matter of fact I voted for him twice for Governor and twice for President. But I do hold him to the higher standards I entrusted to him
    you want to blame anyone, start with Andrew Cuomo and Al Greenspan, then you can move on to the entire FOMC, get rid of those manipulating a-holes and the economy will be back to normal in no time
    BEING AN ADULT

    is the dumbest thing I have ever done

  8. #8
    Join Date
    Jun 2007
    Location
    Bucks Co PA
    Posts
    364
    Jimmy Carter's at fault and this year Jimmy comes in "black".

    The Government-Created Subprime Mortgage Meltdown


    .

  9. #9
    Screw the Fed and let all these top brokers fail.
    No more government subsidies at taxpayer expense.
    Bernanke wants us to continue to have faith in the market?
    Jeez.

  10. #10
    Join Date
    Nov 2000
    Location
    Eastern PA
    Posts
    68,923
    Greenspan was good for when Greenspan was in control. Bernanke is the best person for the job at this point in time. Bernanke is a scholar on the great depression and the stock market crash and so he has histories lessons to guide him through our current mess.
    Government is a disease...
    ...masquerading as its own cure…
    Ecclesiastes 10:2 NIV


  11. #11
    Join Date
    Jan 2007
    Location
    Charm City--the city that bleeds
    Posts
    2,790
    Robo!?!?! Come on, the Fed is at the root of the problem. Greenspan became part of the Establishment, and therefore part of the problem of central banking/central planning. It's socialist in nature. Don't get all "David Frum" on me now...

    And what knuckle-dragger said that Democrats fix the problem? That is the funniest thing I've heard since like yesterday(Obama's latest gaffe).
    Democrats couldn't function without the 16th Amendment.
    It's great to be alive and pumping oxygen!

  12. #12
    Join Date
    May 2000
    Location
    Rochester, NY, USA
    Posts
    14,192
    Quote Originally Posted by The Doctor View Post
    Robo!?!?! Come on, the Fed is at the root of the problem. Greenspan became part of the Establishment, and therefore part of the problem of central banking/central planning. It's socialist in nature. Don't get all "David Frum" on me now...

    And what knuckle-dragger said that Democrats fix the problem? That is the funniest thing I've heard since like yesterday(Obama's latest gaffe).
    Democrats couldn't function without the 16th Amendment.
    isn't that odd? I believe The 16th Amendment was ratified the same year the FOMC was formed

    Coincidence????
    BEING AN ADULT

    is the dumbest thing I have ever done

  13. #13
    Join Date
    Nov 2000
    Location
    Eastern PA
    Posts
    68,923
    I don't disagree that the Fed is at the root of the problem. As has been stated, it is the 16th amendment which allowed Congress to send us spiraling out of control. I'm just saying that if Bernanke, with his background in study of the depression, cannot get us out of this, is there anyone else more qualified to do so?

    Aside from my job, I have very little assets to lose. My job is already iffy due to the economic situation. I feel sorry for those who may not be wealthy but will lose what they have put their lives into. Whenever the balance of wealth gets too heavy to the side of the ultra wealthy, you are going to have problems if the rest of the nation cannot afford to maintain a stable working and buying lifestyle.
    Government is a disease...
    ...masquerading as its own cure…
    Ecclesiastes 10:2 NIV


Page 1 of 2 12 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Comfortech Show Promo Image

Related Forums

Plumbing Talks | Contractor Magazine
Forums | Electrical Construction & Maintenance (EC&M) Magazine
Comfortech365 Virtual Event