Former Federal Reserve Chairman Alan Greenspan told CNBC on Friday that the central bank should taper its $85 billion a month bond buying even if the U.S. economy is not ready for it.
“The sooner we come to grips with this excessive level of assets on the balance sheet of the Federal Reserve—that everybody agrees is excessive—the better,” he said in a “Squawk Box” interview. “There is a general presumption that we can wait indefinitely [...]
Greenspan has proven again and again to be a clueless moron when it comes to calling the market and by his own admission said he had no idea of the market bubbles that grew when he was in charge of monetary policy. In 2009 he called the “top” in the stock market, which actually kept on rallying until today – 3 years later. Either he is criminally incompetent or just [...]
GoldSilver.com readers are familiar with Hedge Fund Manager John Paulson offering the February 17 admission to investors,
“By the time inflation becomes evident, gold will probably have moved, which implies that now is the time to build a position in gold.”
What readers may not remember is not only has Paulson been correct on gold and timing for quite some time, he may have a slight advantage as he is able to employ someone [...]
WASHINGTON – Ben Bernanke presided over his first meeting as Federal Reserve chairman in March 2006 believing the nation’s economy could pull off a “soft landing” from falling home prices. Three months later, Bernanke had begun to grasp that he and others had underestimated the risk housing posed to the economy.
Newly released transcripts of Fed meetings during Bernanke’s first year as chairman show that, among Fed officials, he often expressed [...]
Tax cuts for America’s top earners are costing everyone, every hour of every day, a new report from the National Priorities Project finds.
Tax cuts for the wealthiest five percent of Americans cost the U.S. Treasury $11.6 million every hour, according to the National Priorities Project. America’s top earners will get an average tax cut of $66,384 in 2011, while the bottom 20 percent will get an [...]
Greenspan on Europe’s Debt Problems
Fri 07 Oct 11 | 07:00 AM ET
The following transcript has not been checked for accuracy.
let’s welcome our very special guest host, former federal reserve chairman alan greenspan, president of greenspan associates. great to see you, chairman greenspan. thank you for joining us. i was looking at the ten year the other day. when it went below two, it could be important [...]
Former Federal Reserve Chairman Alan Greenspan said fissures inEurope’s common currency may lead to slowing in the U.S. economy.
“The euro is breaking down and the process of its breaking down is creating very considerable difficulties in the European banking system,” Greenspan said today in Washington.
Emergency steps such as unlimited loans from the European Central Bank are keeping many banks in Greece, Portugal, Italy and Spainsolvent and easing lending by other Europe institutions. [...]
Former Federal Reserve Chairman Alan Greenspan said a surge in U.S. government â€œactivism,â€ including fiscal stimulus, housing subsidies and new regulations, is holding back the economic recovery.
Increased bond issuance by the Treasury Department crowds out borrowers with the weakest credit ratings, Greenspan said in an article in International Finance, published on the Web today. At least half of the shortfall in companiesâ€™ capital spending â€œcan be explained by the shock [...]
Former Federal Reserve chairman Alan Greenspan discusses his distaste for the very central bank he reigned for 2 decades.
Frederick J. Sheehan is the author of “ The Coming Collapse of the Municipal Bond Market“(Aucontrarian.com, 2009)
On January 7, 2011, Kelly Evans of the Wall Street Journal interviewed former Federal Reserve Chairman Alan Greenspan. He rooted for the stock market.
Greenspanâ€™s circular logic was unenlightening: “Stocks are cheap if earnings are to continue higher.” Taken as a whole, this does not mean much, akin to prophesizing: “The Red Sox will [...]
1) Greenspan says US keeping dollar low, hurting others
“SEOUL â€” Former Federal Reserve chairman Alan Greenspan says both the United States and China are pursuing a policy of weakening their currencies to the detriment of other economies.
Greenspan published his views in Thursday’s Financial Times hours before the start of a G20 summit in Seoul designed to protect the global economy from lingering crisis amid a [...]
New Jersey Governor Chris Christie says he cancelled the second rail tunnel under the Hudson River because the state can’t afford it, but Paul Krugman says it’s a “terrible, short-sighted move… We have the need… we have the resources… and the price is right.” With interest rates on debt at near-record lows, Krugman says it’s a great time to borrow for long-term investment.
But American politics these [...]
“We’re involved in a dangerous game,” former Fed chief Greenspan warns, referring to the “scary” deficit. “We’re increasing the debt held by the public at a pace” that will soon dwarf U.S. borrowing capacity. Yesterday, Treasury restructuring chief Jim Millstein castigated Greenspan for falling asleep at the wheel on bank oversight.
Former Federal Reserve Chairman Alan Greenspan said the U.S. fiscal deficit is â€œscaryâ€ and the federal government [...]
1) Greenspan Says US Creating `Scary’ Deficit as Borrowing Rises
“Former Federal Reserve Chairman Alan Greenspan said the U.S. fiscal deficit is â€œscaryâ€ and the federal government needs to cut spending on entitlements.
â€œWeâ€™re involved in a dangerous game,â€ Greenspan said yesterday at a foreign-exchange conference in New York sponsored by Bloomberg LP, the parent of Bloomberg News. â€œWeâ€™re increasing the debt held by the public [...]
All in all, this is a good barbell hedge to some of the other funds in the Paulson group of investment, as should ongoing currency debasement continue (and it will), while the impact on financials will most definitely be negative due to the inevitable even more dramatic flattening of the Yield Curve following QE2, 3, … etc., gold should continue to appreciate as the market prices in ever more proximal [...]
Greenspan Calls Treasury Yields Ã¢â‚¬ËœCanary in the MineÃ¢â‚¬â„¢
“March 26 (Bloomberg) — Former Federal Reserve Chairman Alan Greenspan said the recent rise in Treasury yields represents a Ã¢â‚¬Å“canary in the mineÃ¢â‚¬Â that may signal further gains in interest rates.
Higher yields reflect investor concerns over Ã¢â‚¬Å“this huge overhang of federal debt which we have never seen before,Ã¢â‚¬Â Greenspan said in an interview today on Bloomberg Television.
Ã¢â‚¬Å“IÃ¢â‚¬â„¢m very [...]