Keyword: alangreenspan

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  • Yellen's Low-flation Nonsense

    04/12/2014 9:22:34 AM PDT · by Kaslin · 22 replies
    Townhall.com ^ | April 12, 2014 | Larry Kudlow
    Will somebody please explain to me how rising inflation is somehow going to extricate us from the tepid economic recovery? I don't get it. It used to be hypothesized that low inflation was the key to high economic growth. For everybody in the economy, low inflation was a tax cut. Conversely, rapidly rising prices were thought to penalize the economy by placing a tax-hike effect on investors, businesses, and families. It was this logic that spurred Paul Volcker (especially) and then Alan Greenspan to labor mightily in the 1980s and 1990s to bring inflation down. The Fed's favorite inflation...
  • Alan Greenspan: Where the Economy Went Wrong, Where He Went Wrong—and Ayn Rand.

    10/20/2013 3:38:49 AM PDT · by lbryce · 69 replies
    Wall Street Journal ^ | Oct. 18, 2013 6:06 p.m. ET | Alexandra Wolfe
    Complete Title:Alan Greenspan: What Went Wrong The Former Fed chairman on Where the Economy Went Wrong, Where He Went wrong—and Ayn Rand. Alan Greenspan, the former chairman of the Federal Reserve, goes to a lot of parties. He and his wife, the TV journalist Andrea Mitchell, "sort of get invited everywhere," he says, sitting in front of the long bay window in his office on Connecticut Avenue in Washington, D.C. Lately, though, cocktails and dinners seem to have guest lists drawn almost exclusively from one political party or the other. "It used to be a ritualistic 50-50 at parties—the doyennes...
  • Kudlow: A King Dollar GOP?

    02/13/2012 5:19:08 PM PST · by Tolerance Sucks Rocks · 22 replies
    GOPUSA ^ | February 13, 2012 | Lawrence Kudlow
    Out on the campaign trail, Fed head Ben Bernanke is an unpopular guy. Mitt Romney and Newt Gingrich have both said they would replace Bernanke, not reappoint him. Rep. Ron Paul would swap the whole Federal Reserve monetary system for a gold-linked dollar, making the yellow metal legal tender. And it was Gov. Rick Perry of Texas, before he dropped out of the race, who said more quantitative easing by the Fed would be "almost treasonous." Republicans in Washington are equally unimpressed by Bernanke. Rep. Paul Ryan recently criticized the Fed for bankrolling our huge budget deficits and thereby accommodating...
  • Greenspan: US "Can Pay Any Debt It Has Because We Can Always Print Money" (video)

    08/07/2011 1:32:21 PM PDT · by i88schwartz · 88 replies
    RealClearPolitics ^ | August 5, 2011 | RealClearPolitics
    ormer Chairman of the Federal Reserve Alan Greenspan explains how the United States can pay down the debt. By printing money. Transcript: David Gregory, moderator of "Meet The Press" on NBC: "Are U.S. treasury bonds still safe to invest in?" Alan Greenspan, Former Chairman of the Federal Reserve: "Very much so. This is not an issue of credit rating, the United States can pay any debt it has because we can always print money to do that. So, there is zero probability of default." Greenspan says the S&P downgrade was just meant to hit a "nerve" and hurt the "self-esteem...
  • Alan Greenspan Blames The Bad U.S. Economy On The Lazy Young Work Force And The U.S. Copying China

    07/12/2011 8:34:54 PM PDT · by SeekAndFind · 47 replies · 1+ views
    Business Insider ^ | 07/12/2011 | Courtney Comstock
    Alan Greenspan has an interesting new take on what's wrong with the U.S. economy. He blames the young work force -- there are "major concerns about the productive skills of our future U.S. labor force" -- and U.S. trade policy mirroring China's. Greenspan interviewed himself (or so it appears) for the Globalist recently about how the U.S. is handling job creation. He says that the U.S. is doing it backwards by trying to increase jobs via trade policy. "Increased jobs are the consequence of increased trade. Increasing jobs more than output implies a fall in productivity and standards of living....
  • Why the power of the mighty Federal Reserve is finally on the wane

    04/29/2011 2:34:22 AM PDT · by Scanian · 29 replies
    The Telegraph. UK ^ | April 29, 2011 | Jeremy Warner
    An unprecedented press conference was held in Washington on Wednesday – one that should have been convened a long time ago. And no, it wasn't the one to announce publication of Barack Obama's birth certificate, but rather the first of its kind by the US Federal Reserve. Believe it or not, the Fed has never before made itself directly answerable to the fourth estate for its monetary policy decisions. Accountability and explanation have instead been pursued through official statements, speech-giving, congressional committees and selective background briefings. After nearly 100 years at the helm of the US economy, the Fed has...
  • Treasury Secretary Says Letting Bush Tax Cuts for Rich Expire Will Not Slow Economic Growth

    07/24/2010 5:14:25 PM PDT · by Sub-Driver · 69 replies · 1+ views
    Treasury Secretary Says Letting Bush Tax Cuts for Rich Expire Will Not Slow Economic Growth July 24, 2010 6:00 PM In an exclusive interview on ABC News’ "This Week" to air Sunday, Secretary of the Treasury Timothy Geithner said the White House would push to let the Bush tax cuts expire for individuals making more than $200,000 a year and families making more than $250,000, but keep them for middle and lower income Americans. “We think that's the responsible thing to do,” Geithner said, “because we need to make sure we can show the world that they're willing as a...
  • Andrea Mitchell on Climate Skeptics: ‘How Do You Rationalize the Deniers’ and Their Impact?

    12/09/2009 3:06:19 PM PST · by Justaham · 15 replies · 514+ views
    Newsbusters.org ^ | 12-9-09 | Scott Whitlock
    MSNBC’s Andrea Mitchell on Wednesday used the very loaded term of "denier" to deride global warming skeptics. Talking to liberal host Rachel Maddow, she referenced Sarah Palin’s opposition to the Copenhagen climate conference and chided, "Her Facebook entry says, you know, ‘Mr. President, boycott Copenhagen.’ How do you rationalize the deniers and the impact that they are having?" [Audio available here.] "Deniers" is a word that climate skeptics find quite offensive, as many liberals equate not believing in man-made global warming to denying that the Holocaust occurred. (In January of 2007, CBS reporter Scott Pelley famously compared, "If I do...
  • Global Banking Economist Warned of Coming Crisis in 2003

    10/10/2009 8:18:53 PM PDT · by RobinMasters · 50 replies · 1,603+ views
    Der Spiegel ^ | August 7, 2009 | Beat Balzli and Michaela Schiessl
    William White predicted the approaching financial crisis years before 2007's subprime meltdown. But central bankers preferred to listen to his great rival Alan Greenspan instead, with devastating consequences for the global economy. William White had a pretty clear idea of what he wanted to do with his life after shedding his pinstriped suit and entering retirement. White, a Canadian, worked for various central banks for 39 years, most recently serving as chief economist for the central bank for all central bankers, the Bank for International Settlements (BIS), headquartered in Basel, Switzerland. Then, after 15 years in the world's most secretive...
  • Atlas Shrieked

    06/16/2009 9:37:16 AM PDT · by bs9021 · 3 replies · 298+ views
    Campus Report ^ | June 16, 2009 | Mytheos Holt
    Atlas Shrieked by: Mytheos Holt, June 16, 2009 In recent weeks, former Federal Reserve Chairman Alan Greenspan has found himself increasingly under public assault, both for his actions leading up to the current financial crisis, and for his attempts to defend these actions. In the April issue of the “Free Market” newsletter produced by the Ludwig von Mises Institute, economist Robert P. Murphy devotes an article to exploring what he sees as the failures of central banking systems generally, and Greenspan, specifically. Murphy’s article, entitled “Greenspan’s Bogus Defense,” argues that Greenspan’s rate-setting policies destabilized the relation between federal interest rates...
  • Cynthia McKinney and the far-right. The red-brown convergence now includes the Greens.

    05/05/2009 9:23:38 PM PDT · by 2ndDivisionVet · 6 replies · 481+ views
    Adam Holland Blog ^ | April 22, 2009 | Adam Holland
    Former U.S. Representative and 2008 Green Party presidential candidate Cynthia McKinney has joined those seeking to take advantage of the world economic crisis to promote anti-Semitism. McKinney has published a column promoting the conspiracy theories of the far-right anti-Semite Matthias Chang. McKinney's column, which accuses George Soros and Alan Greenspan of participating in a plot to deliberately destabilize the world economy in order to install a "one-world government", uses Chang's term for this purported conspiracy: "the Shadow Money-Lenders" (not coincidentally, the title of Chang's most recent book). Typical of such conspiracy theories, Chang and McKinney connect this to an ancient...
  • Deconstructing Alan Greenspan

    03/11/2009 6:04:13 AM PDT · by fiscon1 · 1 replies · 178+ views
    The Provocateur ^ | 03/11/2009 | Mike Volpe
    Before I begin my analysis, I want to put the reader into the shoes of Alan Greenspan at the time in question. We have heard ad nauseum that this current economic crisis is the worst since the Great Depression. We have heard it so often that we forget just how dire things were at the beginning of the mlllenia. We entered the millenia with the bubble bursting on the internet revolution. Throughout the nineties, it looked as though our economy would be revolutionized all through the internet, and then all of that was put to an end when the bubble...
  • Greenspan backs bank nationalisation [joins Graham, McCain, Obama, and others] [Socialist agenda]

    02/17/2009 5:48:34 PM PST · by rabscuttle385 · 163 replies · 6,127+ views
    Financial Times ^ | 2009-02-18
    BY KRISHNA GUHA & EDWARD LUCE Washington. The US government may have to nationalise some banks on a temporary basis to fix the financial system and restore the flow of credit, Alan Greenspan, the former Federal Reserve chairman has told the Financial Times. In an interview with the FT Mr Greenspan, who for decades was regarded as the high priest of laisser-faire capitalism, said nationalisation could be the least bad option left for policymakers. ”It may be necessary to temporarily nationalise some banks in order to facilitate a swift and orderly restructuring,” he said. “I understand that once in a...
  • Twenty-five people at the heart of the meltdown ...

    01/26/2009 10:00:29 AM PST · by BGHater · 53 replies · 1,955+ views
    Guardian ^ | 26 Jan 2009 | Julia Finch
    The worst economic turmoil since the Great Depression is not a natural phenomenon but a man-made disaster in which we all played a part.In the second part of a week-long series looking behind the slump,Guardian City editor Julia Finch picks out the individuals who have led us into the current crisis Alan Greenspan, chairman of US Federal Reserve 1987- 2006Only a couple of years ago the long-serving chairman of the Fed, a committed free marketeer who had steered the US economy through crises ranging from the 1987 stockmarket collapse through to the aftermath of the 9/11 attacks, was lauded with...
  • Another Liberal Columnist Criticizes Capitalism

    10/25/2008 8:20:40 AM PDT · by governsleastgovernsbest · 18 replies · 862+ views
    NewsBusters ^ | Mark Finkelstein
    Who wrote the following?: "Societies in which the few are allowed to fatten themselves without limit on the labor of many are not just." A. Friedrich Engels B. William Ayers C. Michelle Obama D. Timothy Rutten Any of the answers would make sense, but the headline kind of gave it away. It was Timothy Rutten of the LA Times who penned that immortal line in his column of today. In doing so, Rutten echoes other in the MSM, as here and here, who in the wake of the financial markets' travails indulge in a certain anti-capitalist chic. Let's have some...
  • Fannie, Freddie Critic Ridiculed In 2000

    09/24/2008 6:17:25 PM PDT · by Kaslin · 16 replies · 1,047+ views
    IBD Editorials ^ | September 24, 2008 | FRED L. SMITH JR
    It is now consensus that Fannie Mae and Freddie Mac are at the heart of the systemic meltdown we are seeing in the mortgage market. They are costing taxpayers billions through their own bailouts and through the role they played in fueling an artificial mortgage boom.But eight years ago, when I testified before Congress that Fannie Mae and Freddie Mac's "special privileges create a serious hazard to the market, to taxpayers (and) to the economy," my criticism of these sacred financial entities was met with ridicule. At the hearing on June 21, 2000, before the House Financial Services Committee, I...
  • Friends of Fannie and Freddie

    07/18/2008 8:32:25 AM PDT · by rabscuttle385 · 5 replies · 203+ views
    The Washington Post ^ | 2008-07-17 | Robert D. Novak
    As financial storm signals appeared the past 18 months, some Bush officials urged drastic reform of Fannie Mae and Freddie Mac. But, according to internal government sources, Treasury Secretary Henry Paulson objected because it would look "too political." The Republican administration kept its hands off the government-backed mortgage companies that are closely connected to the Democratic establishment. Paulson is a Republican, but as head of the Goldman Sachs investment bank he had close ties with Democratic-dominated Fannie Mae.
  • The Federal Reserve’s Systematic Destruction of America

    04/23/2008 5:53:14 AM PDT · by Tolerance Sucks Rocks · 22 replies · 148+ views
    echo chambers ^ | April 22, 2008 | echo chambers
    “If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered.” -Thomas Jefferson The Founding Fathers put Congress in control of the the U.S. monetary system. In 1913 Congress relinquished this awesome power and gave it to a private cartel with the passage of the Federal Reserve Act. For almost 100 years, Federal Reserve policy has swindled Americans...
  • NBC's Andrea Mitchell Ignores Greenspan (Her Husband) Connection to 'Subprime Mess'

    03/26/2008 3:42:27 PM PDT · by Rufus2007 · 34 replies · 1,292+ views
    Newsbusters.org ^ | March 26, 2008 | Jeff Poor
    If there was ever an obvious conflict of interest in economic reporting, this may very well qualify. NBC chief foreign affairs correspondent Andrea Mitchell evaluated the housing crisis solution proposals of both Democratic presidential hopefuls Sens. Barack Obama (Ill.) and Hillary Clinton (N.Y.) on the March 25 "NBC Nightly News." "Clinton was the first of the two to sound alarms about the subprime mess with a plan a year ago," Mitchell said. "Obama followed a week later with a call for a summit. Since then both have gotten more specific."
  • We will never have a perfect model of risk (Alan 'Master of obvious Greenspan)

    03/16/2008 4:52:55 PM PDT · by milwguy · 25 replies · 1,001+ views
    ft ^ | 3/16/2008 | Alan Greenspan
    The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the second world war. It will end eventually when home prices stabilise and with them the value of equity in homes supporting troubled mortgage securities. Home price stabilisation will restore much-needed clarity to the marketplace because losses will be realised rather than prospective. The major source of contagion will be removed. Financial institutions will then recapitalise or go out of business. Trust in the solvency of remaining counterparties will be gradually restored and issuance of loans and securities...
  • Greenspan: Odds of a Recessions Are Rising, Economic Growth Is Getting Close to 'Stall Speed'

    12/13/2007 5:44:50 PM PST · by shrinkermd · 29 replies · 66+ views
    Yahoo and AP ^ | 13 December 2007 | Jeannine Aversa, AP Economics Writer
    ...Asked whether the economy will tip into a recession -- something that has not happened since 2001 -- Greenspan said, "It's too soon to say, but the odds are clearly rising." He said he felt this way because of the slowing pace of growth. "We are getting close to stall speed," he said. "We are far more vulnerable at levels where growth is so slow than we would be otherwise," he added. "Indeed, it's like someone who has an immune system that's not working very well is subject to all sorts of diseases and the economy at this lever of...
  • The U.S. economy is on a slippery slope

    10/11/2007 10:42:49 PM PDT · by oblomov · 8 replies · 520+ views
    Vancouver Sun ^ | 10/10/2007 | Jay Bryan
    It was only last summer when stock markets plunged nearly 10 per cent, shocked by a sudden credit crunch emanating from the implosion of the American housing bubble. It seemed that the era of easy credit and ever-rising stocks had ended. Now, all this appears to be just an unpleasant memory. The Dow Jones industrial average has more than erased its earlier losses, closing well above a previous record set in July. Other major indexes are well on the way to recovery. With the Fed in easing mode, what could go wrong? Even dour old Alan Greenspan seemed on the...
  • Greenspan: China to Export Inflation to U.S.

    10/02/2007 3:01:32 PM PDT · by Tolerance Sucks Rocks · 30 replies · 705+ views
    MoneyNews email | October 2, 2007 | MoneyNews
    Former Federal Reserve Chairman Alan Greenspan is warning of a sea change coming to the global economy. Greenspan says the glory days of low-cost imports from China are coming to an end, sending a wave of inflation to the U.S., reports Bloomberg. After a speech in London yesterday, Greenspan answered an audience member's question about whether China's rapid economic growth will translate into rising prices. Greenspan cited an index of import prices from China to the U.S. that revealed prices are already beginning to trend higher (see chart). The index "finally turned higher in the spring," said Greenspan. "It's saying...
  • The Real Bush Record (Dick Cheney Responds to Greenspan in Op-Ed)

    09/18/2007 9:25:46 PM PDT · by RWR8189 · 24 replies · 1,907+ views
    Wall Street Journal ^ | September 19, 2007 | Vice President Richard Cheney
    In his new book, "The Age of Turbulence," my longtime friend Alan Greenspan argues that President Bush's economic and budget policies have been fiscally irresponsible. I've known and admired Alan for years, and I believe he was a great chairman of the Federal Reserve Board. But I think his assessment is off the mark. Alan tells of his first meeting with then President-elect Bush on Dec. 18, 2000, at the Madison Hotel in Washington. I recall this breakfast meeting very well, especially Alan's comments on the state of the economy. The Fed chairman told the president-elect and our team that...
  • 'FED' UP WITH AL: Analysts decry 'I'm not to blame' spin

    09/18/2007 4:07:57 PM PDT · by GodGunsGuts · 47 replies · 170+ views
    New York Post ^ | September 18, 2007 | PAUL THARP
    'FED' UP WITH AL ANALYSTS DECRY 'I'M NOT TO BLAME' SPIN By PAUL THARP 18, 2007 -- Alan Greenspan's critics are crying foul over the former Federal Reserve chairman's new spin on why the economy is hitting the skids. In numerous interviews promoting his book "The Age of Turbulence" - for which he received an $8 million advance - Greenspan claims the White House's spending binge is largely to blame for the current credit crunch. But some analysts and portfolio chiefs say Greenspan was the problem from the start. In fact, many market observers loudly predicted the coming mess four...
  • Report: Former Fed Boss Says Euro Could Replace U.S. Dollar As Favored Reserve Currency

    09/17/2007 6:59:59 PM PDT · by kellynla · 50 replies · 643+ views
    yahoo.com ^ | September 17, 2007 | staff
    FRANKFURT, Germany (AP) -- Former U.S. Federal Reserve chairman Alan Greenspan said it is possible that the euro could replace the U.S. dollar as the reserve currency of choice. According to an advance copy of an interview to be published in Thursday's edition of the German magazine Stern, Greenspan said that the dollar is still slightly ahead in its use as a reserve currency, but added that "it doesn't have all that much of an advantage" anymore. The euro has been soaring against the U.S. currency in recent weeks, hitting all-time high of $1.3927 last week as the dollar has...
  • As Liberals Chortle, Greenspan Turns Tables

    09/17/2007 12:35:39 PM PDT · by PurpleMountains · 1 replies · 52+ views
    From Sea to Shining Sea ^ | 9/17/07 | Purple Mountains
    Today the left-wing websites and blogs have been going crazy with news that Alan Greenspan, former chairman of the Federal Reserve System, in a book just published, blamed the Iraq War on a quest for oil. These blogs and sites have been filled with comments from liberals basically saying, “Ah hah, we knew it all along”.
  • Greenspan's Dismay Extends Both Ways

    09/17/2007 12:11:58 AM PDT · by CutePuppy · 28 replies · 469+ views
    Wall Street Journal (no subscription) ^ | September 17, 2007 | Greg Ip
    WASHINGTON -- Former Federal Reserve Chairman Alan Greenspan spent much of the past 40 years as an influential economic adviser to both Republicans and Democrats, but today feels estranged from both. News coverage of his memoir has focused on his criticism of Republicans for forsaking their small-government principles. But in an interview with The Wall Street Journal, Mr. Greenspan expressed just as much dismay with the Democratic Party. Mr. Greenspan, a self-described libertarian Republican, said he was "fairly close" to President Clinton's economic advisers -- Treasury secretaries Robert Rubin and Lawrence Summers and Deputy Treasury Secretary Roger Altman. "The Clinton...
  • 60 Minutes Greenspan Interview Trashes Republican Presidents; Clinton was the Smartest -

    09/16/2007 6:05:31 PM PDT · by WyCoKsRepublican · 98 replies · 2,274+ views
    60 Minutes aired an interview with former Fed Chairman Alan Greenspan this evening. He inferred Nixon was vulgar and profane, Ford was a nice guy, Reagan wasn't that bright and was just an opportunist intested in his public image, and naturally Bill Clinton was the smartest of all that he'd served under. He went on to say how bright Hillary was and that Bush lied to him about the truth of our prosperity. Now folks, I'm considering the source and I knew where this propaganda piece was heading, but it was pathetic. Barf-a-rama.
  • Alan Greenspan claims Iraq war was really for oil

    09/15/2007 4:21:02 PM PDT · by freespirited · 119 replies · 2,783+ views
    Times Online ^ | 9/16/07
    AMERICA’s elder statesman of finance, Alan Greenspan, has shaken the White House by declaring that the prime motive for the war in Iraq was oil. In his long-awaited memoir, to be published tomorrow, Greenspan, a Republican whose 18-year tenure as head of the US Federal Reserve was widely admired, will also deliver a stinging critique of President George W Bush’s economic policies. However, it is his view on the motive for the 2003 Iraq invasion that is likely to provoke the most controversy. “I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is...
  • Ayn Rand’s Literature of Capitalism (NYT)

    09/15/2007 2:05:39 AM PDT · by traviskicks · 34 replies · 854+ views
    New York Times ^ | 9/15/07 | Harriet Rubin
    One of the most influential business books ever written is a 1,200-page novel published 50 years ago, on Oct. 12, 1957. It is still drawing readers; it ranks 388th on Amazon.com’s best-seller list. (“Winning,” by John F. Welch Jr., at a breezy 384 pages, is No. 1,431.) The book is “Atlas Shrugged,” Ayn Rand’s glorification of the right of individuals to live entirely for their own interest. For years, Rand’s message was attacked by intellectuals whom her circle labeled “do-gooders,” who argued that individuals should also work in the service of others. Her book was dismissed as an homage to...
  • Ex-ABC consultant said to fake interview

    09/14/2007 12:25:50 AM PDT · by crazyshrink · 17 replies · 887+ views
    Yahoo News via Drudge ^ | Thu Sep 13, 7:53 PM ET | By DAVID BAUDER, AP Television Writer
    A former ABC News consultant fired last year because he couldn't authenticate academic credentials is at the center of a new dispute over apparently faked interviews with Barack Obama, Nancy Pelosi, Bill Gates and others. The consultant, Alexis Debat, quit the Nixon Center, a Washington think tank, on Wednesday after Obama's representatives claimed an interview with the senator appearing under Debat's byline in the French magazine Politique Internationale never took place. The interview quoted the Democratic presidential candidate as saying the Iraq war was "a defeat for America." Pelosi, Gates, former Federal Reserve Chairman Alan Greenspan, former United Nations Secretary-General...
  • GREENSPAN SEES A SINKING DOLLAR

    12/12/2006 8:40:21 AM PST · by GodGunsGuts · 43 replies · 1,265+ views
    Houston Chronicle ^ | December 12, 2006
    Dec. 11, 2006 Greenspan sees a sinking dollar Bloomberg News Former Federal Reserve Chairman Alan Greenspan said the dollar will probably keep falling because it's unlikely that international fund managers will continue to increase their allocations to the U.S. currency. Russia and other oil-producing currencies are shifting their assets out of dollars toward the euro and yen, a Bank for International Settlements quarterly report showed Monday. Greenspan said the dollar, heading for its fourth annual decline in the past five years, will probably keep falling until the U.S. current-account deficit diminishes. "It's imprudent to hold everything in one currency," Greenspan...
  • Irrational Exuberance, Reconsidered

    12/06/2006 7:23:06 AM PST · by presidio9 · 8 replies · 506+ views
    The Wall Street Journal ^ | Wednesday, December 6, 2006 | JEREMY J. SIEGEL
    Ten years ago yesterday, Alan Greenspan made what was to become the most famous speech in his 18-year tenure as chairman of the Federal Reserve. Against a backdrop of a strong economy and soaring stock market, Mr. Greenspan said: "How do we know when irrational exuberance has unduly escalated asset values? . . . We should not underestimate . . . the interactions of asset markets and the economy. Asset prices, particularly, must be an integral part of the development of monetary policy." Stocks indeed were surging when Mr. Greenspan spoke at the annual dinner of the American Enterprise Institute...
  • Greenspan says economy escaping housing woes

    10/28/2006 11:09:36 AM PDT · by wagglebee · 47 replies · 911+ views
    Reuters ^ | 10/26/06 | Alister Bull
    WASHINGTON (Reuters) - Former Federal Reserve Chairman Alan Greenspan said on Thursday the U.S. economy was pulling away from the shoals of a sharp housing-sector downturn and that the outlook for growth was "reasonably good." "Most of the negatives in housing are probably behind us," Greenspan said at a conference sponsored by the Commercial Finance Association "The fourth quarter should be reasonably good, certainly better than the third quarter." The government reports on third-quarter economic growth on Friday. After shooting ahead at a 5.6 percent annual clip at the start of the year, the economy advanced only 2.6 percent in...
  • Great Britain: Gord hires Greenspan (Chancellor of the Exchequer feels Alan will turn UK around)

    02/02/2006 11:10:14 AM PST · by Stoat · 8 replies · 602+ views
    The Sun (U.K.) ^ | February 2, 2006
      'Kitchen Cabinet' ... Gordon   Gord hires Greenspan GORDON Brown began building his government-in-waiting last night by hiring the world’s greatest moneyman as his guru. The Chancellor hand-picked Alan Greenspan as he began assembling a star chamber ready for No 10. The 79-year-old American will be his economic adviser. He will try to help turn Britain into one of the best-performing countries. Hugely-respected Mr Greenspan only stepped down as chairman of the US central bank on Tuesday. His decision to work with the Chancellor shows Mr Brown is already assembling his own “kitchen Cabinet”. Last night a Whitehall official...
  • CNN: HARRIET MIERS HAS WITHDRAWN!

    10/27/2005 5:54:48 AM PDT · by SoFloFreeper · 3,435 replies · 62,423+ views
    just breaking!!!!!!!!
  • Joe Wilson's Civil Rights Violated? (Andrea Mitchell says YES)

    10/25/2005 9:00:42 PM PDT · by blogblogginaway · 31 replies · 1,045+ views
    NewsMax.com ^ | Oct. 25, 2005 | NewsMax.com
    Charges against White House officials in the Valerie Plame Leakgate case could include violating her husband, Joseph Wilson's, civil rights. That's the bizarre claim from NBC reporter Andrea Mitchell, who insisted on MSNBC's "Hardball" Monday night that Special Counsel Patrick Fitzgerald has likely determined that Leakgate is, at least in part, a civil rights case. "You know, it‘s not just perjury or conspiracy or obstruction, there are other really important criminal charges," Mitchell claimed. "We‘re even told that there could be a conspiracy charge, conspiracy to violate Joe Wilson‘s civil rights." Filling in on Baltimore radio station WMAL, talker Steve...
  • Alan Greenspan: Master of Minimalism (George Will)

    10/25/2005 2:27:34 AM PDT · by RWR8189 · 5 replies · 339+ views
    Washington Post Writers Group ^ | October 25, 2005 | George F. Will
    WASHINGTON -- Frequently the fate -- gratifying, yet melancholy -- of consequential public persons is this: They so transform an ominous social landscape that, by the time they leave the public stage, the public no longer remembers the banished dangers, and hence cannot properly value the banisher. So as Alan Greenspan heads to the end, in January, of more than 18 years as head of the Federal Reserve, recall that 30 years ago the intelligentsia worried that democracies, including this one, had become ``ungovernable." The worrying was caused by inflation, then thought to be the systemic disease of democracies. The...
  • Text of Greenspan Statement on Bernanke

    10/24/2005 3:42:47 PM PDT · by RWR8189 · 3 replies · 434+ views
    Associated Press ^ | October 24, 2005
    Here is the text of Federal Reserve Chairman Alan Greenspan'sstatement on President Bush selecting Ben Bernanke to be the next chief of the central bank:"The president has made a distinguished appointment in Ben Bernanke. Ben comes with superb academic credentials and important insights into the ways our economy functions. I have no doubt that he will be a credit to the nation as chairman of the Federal Reserve Board."
  • Rush Limbaugh: Way Out: Miers to Fed (As Greenspan's replacement)

    10/21/2005 7:50:50 PM PDT · by wagglebee · 49 replies · 1,224+ views
    RushLimbaugh.com ^ | 10/21/05 | Rush Limbaugh
    RUSH: I've been thinking about this Harriet Miers problem, folks. I got a solution. Everybody's got their ideas. One of the ideas is that Harriet Miers resign, withdraw, and that Bush nominate her to the appellate court - and let her get some seasoning and go through some hearings there and get out of it that way. I have a different idea but -- oh, before I give you my idea -- I saw a news story yesterday. Let me tell you what I think of it. Sam Brownback and the vice president, Lindsey Graham, both-- (interruption) No, wait. They...
  • Transatlantic division in monetary policy

    10/10/2005 2:30:56 PM PDT · by RWR8189 · 442+ views
    Financial Times ^ | October 10, 2005 | The Editors
    Tough talk on inflation, first by US Federal Reserve officials, then by Jean-Claude Trichet, president of the European Central Bank, has got the markets rattled. Last week all the leading equity indices retreated, with the S&P 500 down 2.7 per cent, the FTSE Eurofirst 300 down 1.8 per cent, the Nikkei off 2.6 per cent and the FTSE 100 off 2.1 per cent. It looks as if investors are questioning the notion that the US, and to some extent the world economy, has entered a new "Goldilocks" phase with growth neither too hot (risking accelerating inflation) nor too cold (risking...
  • Dollar holds firm on Fed rate talk

    10/04/2005 3:50:59 AM PDT · by RWR8189 · 19 replies · 659+ views
    Reuters ^ | October 4, 2005 | Veronica Brown
    LONDON (Reuters) - The dollar remained firm on Tuesday near this week's three-month highs against the euro and 16-month peaks versus the yen as a Federal Reserve official joined the hawkish chorus on U.S. interest rates. The dollar also hit a two-month high against sterling and against an index of major currencies as investors priced in prospects for the Fed to press ahead with its 15-month credit-tightening campaign. Atlanta Fed President Jack Guynn told Reuters in an interview on Monday that the Fed's tightening campaign still has "a ways to go" before completion. Analysts said strong data, equity inflows and...
  • Is Abortion and Illegal Migrationm Linked?

    09/04/2005 10:58:34 AM PDT · by eakole · 1 replies · 361+ views
    9/4/05 | eakole
    Is Abortion and Illegal Migrationm Linked? Accidents do not happen, because every physical event has a physical cause. The birth of a galaxy or a human being, does not happen without cause. Whatever the phenomenon, nothing happens without some "retrospective coherent" event. The actual cause may be obscure or unrecognizable, but the principle of cause and effect is always operative. Still, lacking total knowledge, we will attempt to remedy our problems even when the quality of our information is imprecise and superficial. Because we are constantly adding to our store of knowledge, the "retrospective coherent" events become less chaotic and...
  • The Fed Targets Your Home

    08/28/2005 6:07:21 AM PDT · by bert · 159+ views
    E newsletter ^ | August 26, 2005 | John Maudlin
    The Fed Targets Your Home by John Mauldin August 26, 2005 The Problem With Forecasting Nothing Down, Interest Only Greenspan Gives a Very Clear Warning The Fed Is Targeting the Price of Your House New Orleans and Birthdays What is the relationship between housing prices and stock market forecasting? What will happen if the housing market begins to falter? Exactly what did Greenspan say about housing at Jackson Hole? We explore these topics and a whole lot more and hopefully we can tie them all together by the end of this letter as we meditate on the potential risk of...
  • Low Rates Could Be Around for Long Term

    06/26/2005 11:12:49 PM PDT · by RWR8189 · 39 replies · 1,218+ views
    New York Times ^ | June 27, 2005 | EDMUND L. ANDREWS
    WASHINGTON, June 26 - Federal Reserve officials, who meet this week, are beginning to suspect that the perplexing decline in long-term interest rates is more than a temporary aberration. The possibility has major implications for the economy, and it creates new puzzles for Fed officials on how they should respond. On Thursday, the Fed is all but certain to raise the federal funds rate on overnight loans between banks by another quarter point, to 3.25 percent. That would be the ninth increase in the last year, and the central bank is expected to signal that it will continue to raise...
  • Bush facing rare chance to shape Fed

    05/19/2005 1:40:29 AM PDT · by RWR8189 · 1 replies · 400+ views
    Reuters ^ | May 19, 2005
    WASHINGTON (Reuters) - A decision by Federal Reserve Governor Edward Gramlich to step down from his post in August underscores the rare degree to which President Bush will have a hand in molding the U.S. central bank. Bush has already named five of the seven members of the Fed's Washington-based board, although one of them, Vice Chairman Roger Ferguson, was initially chosen by President Bill Clinton. Only two members do not owe their seat to Bush: Gramlich, who said on Wednesday he will step down Aug. 31, well ahead of the expiration of his term in 2008, and Chairman Alan...
  • Hiking minimum wage: Be careful what you wish for - (ends up hurting poor & minorities)

    04/30/2005 3:26:27 PM PDT · by CHARLITE · 19 replies · 755+ views
    EMPLOYMENT OPPORTUNITIES INSTITUTE ONLINE.COM ^ | APRIL 22, 2005 | CRAIG GARTHWAITE
    As Gov. Rendell and state legislators consider a proposal for a $7 an hour minimum wage, they should also bear in mind Federal Reserve Board Chairman Alan Greenspan's warning that such a move "prevents people who are at the early stages of their careers... from getting a foothold in the ladder of promotions." Wage-hike proponents often argue that minimum-wage employees haven't had a raise since Congress last increased the national rate. But few entering the workforce at the minimum wage stay there for long. Nearly two-thirds get a raise within one to 12 months. Most low-wage earners simply don't need...
  • Post, Times don’t even come close to agreeing on what Fed Chairman has to say.

    04/22/2005 12:03:54 PM PDT · by CorbyCard · 1 replies · 334+ views
    Free Market Project ^ | 4/22/2005 | Dan Gainor
    by Dan Gainor April 22, 2005 It’s rare that The New York Times ignores a chance to push for tax increases, but it was the case yesterday. Over at The Washington Post, Federal Reserve Chairman Alan Greenspan’s comments before the Senate Budget Committee yesterday were described “that he expects tax increases to be part of any eventual agreement to reduce the federal budget deficit.” The Times took another approach entirely and focused on Greenspan’s call to reduce the deficit. Sometimes, it’s easy to see how differently two newspapers look at a story. Just compare how different the two headlines appear:...
  • Bernanke Favorite for Greenspan Successor

    04/10/2005 6:47:23 PM PDT · by wagglebee · 6 replies · 384+ views
    Reuters ^ | 4/10/05 | Caren Bohan and Tim Ahmann
    WASHINGTON (Reuters) - Federal Reserve Governor Ben Bernanke has the edge in the latest betting over who will succeed Alan Greenspan as Federal Reserve chief, but sources close to the Bush administration say it is still early in the decision process. President Bush's decision earlier this month to nominate Bernanke to head the White House Council of Economic Advisers prompted speculation that the top White House economics job may be an audition for Greenspan's post. "Bernanke is a strong Washington player with good insights," said William Beach, a scholar at the Heritage Foundation, a conservative think tank in Washington. "He's...