G-Money is really just kicking it again, playing his Clarinette and chill'n with the Randian Collective....back to the roots. And he's watch you monkeys jump. BTW: as for the poll...NFW should he shut up. Bring the Vol...G-Money brings the Vol
Greenspan and Bernanke have no weeds in their garden. Previously Greenspan said risk was under control, but perhaps he just hoped that rising housing prices would bail out problems on his watch: â⦠lenders are now able to quite efficiently judge the risk posed by individual applicants and to price that risk appropriately. These improvements have led to rapid growth in subprime lendingâ¦â Alan Greenspan April 8, 2005 Federal Reserve Systemâs Fourth Annual Community Affairs Research Conference Washington, D.C. http://www.federalreserve.gov/boarddocs/speeches/2005/20050408/default.htm
Greenspan now works as a consultant for Bill Gross, who as everyone knows is loaded to the gills with bonds and is very bullish on bonds and loves to talk his position. So if, big if, Mr Greenspan could precipitate a stock market crash with his remarks, bonds would certainly rally and make a lot of money for his new employer. Of course Greenspan couldn't do this, and of course wouldn't even if he could, but don't you think he should avoid even the appearance of a conflict of interest?
I think he can't help himself, he just wants to feel as though he is still relevant so loves to make provocative statements that move the market. Probably running after his wife tonight saying "Baby I still got it!" That image will give me a nightmare, blech.
Who cares about Greenspan ? He made is irrational exuberance speech 4 years too early in 1996. He might know something about economy but he's clueless about the markets...
It's so funny that one lost his money and blame it for others. I guess if profit from Greenspan's speech, there will be no such thread. In the matter of fact, the person probably he is god and can even make legendary traders like Jesse Livermore tiny.
"Chinese stocks wobbled then dipped Thursday after former U.S. Federal Reserve Chairman Alan Greenspan voiced concern about an eventual correction in China's red-hot stock markets." What do you suppose the mom & pop traders think of the U.S. now? Alan speaks their market drops, they blame America, we messed up there market. Turn on the news, talking head says, "U.S. biggest cause of global warming" now we have to take responsibility for the weather all over the world? Every country has an excuse to not like us. On and on...
Whether or not you agree with his opinion, he has decades of experience and at his age should be considered a wise man. Not that he will always be right but his experience does at least make him a point of view to consider.
spot on - I think Don is reading ET: http://www.smartmoney.com/aheadofthecurve/index.cfm?story=20070525&hpadref=1&pgnum=1