The Mess That Greenspan made
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| Blog Name: | The Mess That Greenspan made |
| Url: | http://themessthatgreenspanmade.blogspot.com/ |
| Language: | English |
| Topics: | Financial Bubbles, Housing, Federal Reserve |
| Description: | The purpose of this blog is to help shed light on the underbelly of today's economy and to have a few laughs along the way. It seems that the entire world is being led along by government officials, central bankers, economists, and the mainstream financial media, most of whom seem to have some sort of vested interest in not providing a complete picture of our economy and our financial markets. There are a growing number of individuals who are trying to tell the world that the GDP, CPI, and employment statistics are not what they appear to be - that there is an inherent bias (to put it nicely) in the reporting of our economic condition, and that maybe things are not as others would like for you to believe. It seems most people have not the time, the ability, and the inclination to look past the headline economic statistics, the current issue of their favorite personal finance magazine, or the current market value of their home - they don't smell anything funny. A growing number of writers believe that our economy does smell funny. In fact "smell" isn't really the right word - it's more like a "stench". Primarily, this stench has to do with massive amounts of debt everywhere, out-of-control government finances, the poor quality of job creation in recent years, and most importantly, a stock market bubble that morphed into a housing bubble. Most people do not yet smell the stench - some are just now starting to get a whiff of it. What's up with the name? Clearly, today's economy is a mess. Most people don't realize it yet, but they are beginning to understand that all is not well. Soon, more people will be referring to this economy as a mess. The next question is, "Who made this mess?" While Federal Reserve Chairman Alan Greenspan is not solely responsible for the condition in which we find ourselves, he, more than any other individual, should get the credit or blame for what happens in the world economy in the next few years. Many today believe the coming years will not be pretty - that we will all be living with the mess that Greenspan made for years to come. We'll see. |
| Popularity: | 5 Followers |
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Planes, Trains, and Automobiles
All that Neal Page wants to do is to get home for Thanksgiving. His flight has been canceled due to bad weather so he decides on other means of transport.As well as bad luck, Neal is blessed with the presence of Del Griffith, "Shower Curtain Ring Salesman" and all-around blabbermouth, who is never short of advice, conversation, bad jokes, or company.And when he decides that he is going the same direction as Neal...
All that Neal Page wants to do is to get home for Thanksgiving. His flight has been canceled due to bad weather so he decides on other means of transport.As well as bad luck, Neal is blessed with the presence of Del Griffith, "Shower Curtain Ring Salesman" and all-around blabbermouth, who is never short of advice, conversation, bad jokes, or company.And when he decides that he is going the same direction as Neal...
The gold price over Thanksgiving
Up until last year, the Thanksgiving holiday in the U.S. has been a very favorable two-day period for the gold price as shown below. Of course, lots of things were different last year.Who knows what to expect this year, but, due to New York trading being closed on Thursday and there being only light trading on both Wednesday and Friday, this leaves the rest of the world to push the price up or down as they see fit.It's been more up than down during this decade.Over th
Up until last year, the Thanksgiving holiday in the U.S. has been a very favorable two-day period for the gold price as shown below. Of course, lots of things were different last year.Who knows what to expect this year, but, due to New York trading being closed on Thursday and there being only light trading on both Wednesday and Friday, this leaves the rest of the world to push the price up or down as they see fit.It's been more up than down during this decade.Over th
The borrower is the slave of the lender
More evidence that there's not too much difference between drugs, alcohol, and shopping at the local mall when the credit card balances only go in one direction - up - comes in this story by Megan McArdle in the Atlantic.Lead Us Not Into DebtFinance guru Dave Ramsey wins followers with a simple message: find God and lose your credit cards.
More evidence that there's not too much difference between drugs, alcohol, and shopping at the local mall when the credit card balances only go in one direction - up - comes in this story by Megan McArdle in the Atlantic.Lead Us Not Into DebtFinance guru Dave Ramsey wins followers with a simple message: find God and lose your credit cards.
Santelli talks about gold price suppression
Skip to about the 7:45 mark to hear Rick Santelli say, "Central banks have to be petrified about gold going to $2,000! Didn't Larry Summers write a paper saying that central banks have to keep a lid on the price of gold for obvious reasons?"It keeps getting more and more interesting with nary a hint of the gold price faltering.
Skip to about the 7:45 mark to hear Rick Santelli say, "Central banks have to be petrified about gold going to $2,000! Didn't Larry Summers write a paper saying that central banks have to keep a lid on the price of gold for obvious reasons?"It keeps getting more and more interesting with nary a hint of the gold price faltering.
Home for the holidays ... and every other day
A new report by Pew Research tells of the growing number of "boomerang kids" who will only have to walk down the hall tomorrow to get a good Thanksgiving dinner.The journey home for Thanksgiving won't be quite so far this year for many young adults. Instead of traveling across country or across town, many grown sons and da
A new report by Pew Research tells of the growing number of "boomerang kids" who will only have to walk down the hall tomorrow to get a good Thanksgiving dinner.The journey home for Thanksgiving won't be quite so far this year for many young adults. Instead of traveling across country or across town, many grown sons and da
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