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: | 4 Followers |
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Fixing what's broken by breaking it yet again
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Consumer credit shrinkage
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What's going on with the GLD inventory?
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One of the surprising developments related to the recent move up in the gold price (that is, aside from India beating China to half the IMF's stash) is that there has been nary an addition to the SPDR Gold Shares ETF (NYSEArca:GLD), the world's most popular gold ETF.After a huge run-up early in the year, a move that was widely believed to have supported the price increase at the time, inventory is now actually below
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