Posts tagged Greenspan

Time to sell? Greenspan says there’s no bubble in the stock market

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Source: http://www.againstcronycapitalism.org

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Time to sell? Greenspan says there’s no bubble in the stock market

 

Greenspan-cc2

 

He says he didn’t see the housing bubble emerging 7 years ago and that regardless the bubble wasn’t his fault anyway.

 

Now Greenspan doesn’t see a bubble in stocks. Valuations are increasingly out of whack. The Fed has held rates at 0% for a half decade, but there’s no bubble.

 

I think this thing runs a bit more but to say that the market isn’t bubbly ignores the obvious.
Click here for the article.

Image credit: http://www.againstcronycapitalism.org

 

Sorry Greenspan, but you own the housing bubble

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Source: http://www.againstcronycapitalism.org

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Sorry Greenspan, but you own the housing bubble

 

Greenspan-cc1

 

Sure the Community Reinvestment Act (a totally crony law) had something to do with housing’s abrupt rise and fall in this country. And there were other factors besides Fed policy. But the primary reason why the global housing bubble, and before that the tech bubble, blew up and then collapsed is because of the easy money policies of one Alan Greenspan.

Now he is appearing on Bloomberg, and CNBC, and whatever show will have him to promote his new book.

We agree with the attached article that if Greenspan refuses to go out to pasture and remain there silently his only other decent alternative would to go on an apology tour, not a book tour.

(From The Guardian)
 
Greenspan’s “I didn’t know” excuse is so absurd as to be painful. The explosion of exotic mortgages in the bubble years was hardly a secret. It was frequently talked about in the media and showed up in a wide variety of data sources, including those produced by the Fed. In fact, there were widespread jokes at the time about “liar loans” or “Ninja loans”. The latter being an acronym for the phrase, “no income, no job, no assets”.
 
The fact that banks were issuing fraudulent mortgages by the millions, and that the Wall Street crew was securitizing them as fast as they could get them, was not top secret information available only to those with special security clearance. This was the economy in the years 2002-2006.

Click here for the article.

Image credit: http://www.againstcronycapitalism.org


Nick Sorrentino
About Nick Sorrentino

Nick Sorrentino is the co-founder and editor of AgainstCronyCapitalism.org. A political and communications consultant with clients across the political spectrum, he lives just outside of Washington DC where he can keep an eye on Leviathan.

Peter Schiff owning everyone’s ass on C-span

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Ron Paul has crazy economic ideas

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Source: http://www.dailypaul.com

By mindwalker55

Show this post to anyone who thinks Ron Paul has crazy economic ideas

Ron Paul’s understanding of the economy is a matter of public record.

In 1983 he predicted the 1987 recession.

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http://www.youtube.com/watch?v=9FmlsK_nJKU&feature=related

 

In 1998 he predicted the 2000 dot com crash.

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http://www.youtube.com/watch?v=4837NXWxpMA

 

In 2001 he predicted the housing bubble crash and what the Fed would do in response.

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http://www.youtube.com/watch?v=KONpt9a6HrI&feature=relmfu

 

And of course he has told us this year Mar. 2012 about the Bond Bubble currently forming.

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http://www.youtube.com/watch?v=Q0c4QgpEpGM

 

In fact he has accurately predicted very single economic down turn in the last 3 decades, with an explanation of why he believes they will happen.

No other politician that I know of has this track record. In fact no member of the Federal Reserve has this track record. And most noteworthy there are very few people in the financial sector with this impressive record of accuracy.

To put our trust in the people that never saw these coming to fix the problems makes no sense, especially since their fix is doing more of what Dr. Paul has identified as the cause.

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Bernanke’s Warning: We Stand on the Precipice of Economic Destruction

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Source: http://www.infowars.com

By Kurt Nimmo
Infowars.com

Earlier this week, Federal Reserve boss Ben Bernanke again warned that out of control borrowing and spending will eventually destroy the country.

Said Ben to the the Budget Committee:

Sustained high rates of government borrowing would both drain funds away from private investment and increase our debt to foreigners, with adverse long-run effects on U.S. output, incomes, and standards of living. Moreover, diminishing investor confidence that deficits will be brought under control would ultimately lead to sharply rising interest rates on government debt and, potentially, to broader financial turmoil. In a vicious circle, high and rising interest rates would cause debt-service payments on the federal debt to grow even faster, resulting in further increases in the debt-to-GDP ratio and making fiscal adjustment all the more difficult.

But here is something Bernanke didn’t mention – a large chunk of that debt is owed to the Federal Reserve. In February, the corporate media fessed up to this undeniable fact. From CNBC:

That’s right, the biggest single holder of U.S. government debt is inside the United States and includes the Federal Reserve system and other intragovernmental holdings. Of this number, The Fed’s system of banks owns approximately $1.65 trillion in U.S. Treasury securities (as of January 2012), while other U.S. intragovernmental holdings – which include large funds such as the Medicare Trust Fund and the Social Security Trust Fund - hold the rest.

The bankers that own the Federal Reserve love debt and that’s why they continually expand the money supply.

“Without the Fed’s relentless expansion of the money supply during both the Greenspan and Bernanke eras, the U.S. Treasury never would have been able to issue the staggering sums of debt that now threaten our economic well being,” Ron Paul told the House Committee on Financial Services Subcommittee on Domestic Monetary Policy last year. “This Treasury debt is the very lifeblood of deficit spending, permitting one Congress after another to spend far more than the Treasury collects in taxes. It is precisely this unholy alliance between the enabling Fed and a spendthrift Congress that I hope our witnesses will address today.”

It’s a great situation for the warheads in the Pentagon and the military industrial complex. Excluding Social Security and other “trust funds” (no pun intended), the Pentagon spends most of this money. Flush with trillions, they are free to continue and expand the wars necessary for the globalists to extend their reach (as they are now doing in Africa).

(more…)

Ron Paul Interview On The Kudlow Report 01/13/12

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