Do you really need derivatives? - Hindu
Hindu Business LineDo you really need derivatives?Hindu Business LineAre derivatives the “financial weapons of mass destruction” of Warren Buffett's description or “an important vehicle for unbundling risk” as Alan Greenspan charitably saw them? The first part of the book is mostly devoted to threshing out this issue ...and more »
Posted on 10 May 2015 | 9:22 am
Cliff Asness: Investing Amid Dearth Of Value
ValueWalkCliff Asness: Investing Amid Dearth Of Value In Equities & BondsValueWalkFederal Reserve Chairwoman Janet Yellen caused a bit of a stir in an interview Wednesday when she commented that “equity market valuations at this point generally are quite high.” It wasn't exactly an “irrational exuberance” speech a la Alan Greenspan ...
Posted on 10 May 2015 | 8:16 am
What it will take for stocks to go higher -
CNNMoneyWhat it will take for stocks to go higherKCCI Des MoinesYellen's surprise comments last week were meant to help re-align market expectations, although experts are quick to point out the former Fed chair Alan Greenspan tried to do something similar in 1996 and stocks kept going up for over three more years.Yellen's worried-is that a good thing for markets?CNBCYellen is “Yell-ing” About High Stock Prices!GuruFocus.com (registration)What Janet Yellen Doesn't Know About StocksInvestment Uall 55 news articles »
Posted on 10 May 2015 | 7:04 am
New Research Suggests Fracking Causes
The InquisitrNew Research Suggests Fracking Causes EarthquakesThe InquisitrWell before his gig as Fed Chairman, a young Randian economist named Alan Greenspan once postulated that the profit-seeking of big business “is the unexcelled protector of the consumer.” Of course, it's worth noting that Greenspan's essay, entitled ...and more »
Posted on 9 May 2015 | 10:40 pm
Economic bright sparks still dazed from
Irish IndependentEconomic bright sparks still dazed from effects of the crisisIrish IndependentNobody personified the cadre of self-assured macroeconomists better than Alan Greenspan - the man who ran America's central bank for almost two decades. When he stood down from the position in early 2006 the plaudits rained down. His subsequent fall ...
Posted on 9 May 2015 | 6:32 pm
When Buddy Holly was little, he insisted on getting on the stage with his uncle’s band and playing along with his fiddle. The unpleasant screeching caused the uncle to wax Buddy’s bow. Buddy could still play, but it didn’t bother anybody.
Posted on 13 April 2015 | 8:07 am
Rejection, repatriation and redemption in
Gillian Tett (Financial Times): "Do you think that gold is currently a good investment?" Alan Greenspan (private citizen): "Yes. Remember what we're looking at. Gold is a currency. It is still, by all evidence, a premier currency. No fiat currency, including the dollar, can match it."
Posted on 28 March 2015 | 4:17 pm
The Labor Market Conundrum: The Cyclical and
Back in 2005, then Federal Reserve (Fed) Chairman Alan Greenspan mused on the failure of long term yields to rise, famously calling it a conundrum. Today, we face another mindboggling conundrum with equally significant investment implications
Posted on 24 March 2015 | 9:33 pm
What A Permabull Thinks Is The Biggest
Echoing the grave concerns of no lesser 'maestro' of manipulation than Alan Greenspan, Wells Capital Management's Jim Paulsen notes that while the U.S. stock market has risen by about 3 times from its crisis low in March 2009 ; much of this advance has been against a backdrop of disappointing productivity gains ... should productivity growth remain subpar, stock market risk seems to be rising ...
Posted on 24 March 2015 | 3:45 pm
The Unbearable Exuberance of China's
Chinese investors are acting as giddy as Americans were on Dec. 5, 1996, the day Alan Greenspan made his infamous "irrational exuberance" dig at markets. Here's what the country's securities regulator said Friday, the day the Shanghai Composite Index rallied to its highest close since May 2008: “Investors should be cautious about market risks,” the China Securities Regulatory Commission said on ...
Posted on 23 March 2015 | 8:45 pm
Fed leader won't be at big summit in Teton
The faithful attendance of Yellen's three predecessors -- Paul Volcker, Alan Greenspan and Ben Bernanke -- made the conference sponsored by the Kansas City Federal Reserve Bank a widely sought invitation by central bankers from around the globe.
Posted on 27 May 2015 | 5:49 am
Bill Gross Sees Profits in Global Arbitrage
Not only that, but the changes would be different in different countries! Wow, what a conundrum as Alan Greenspan might say! My thesis of arbitragable opportunities may appear hopeless from the get go with so many variables and future assumptions in so ...
Posted on 27 May 2015 | 3:39 am
Asset Valuation - Expensive or Cheap?
Probably the most famous comment recently by a Fed Chair as to asset valuation occurred when Alan Greenspan gave a televised speech on Dec. 5, 1996. In that speech, Chairman Greenspan said: “Clearly, sustained low inflation implies less uncertainty about ...
Posted on 27 May 2015 | 2:59 am
Could Fed’s “Gradual” Tightening
There is precedent for miniature rate hikes, as the Fed itself raised interest rates by less than a quarter-point under Alan Greenspan as recently as 1989, and many EM central banks (including Hungary’s National Bank) routinely tweak interest rates by as ...
Posted on 27 May 2015 | 12:41 am
Euro was a mistake, says Fed ex-chair
This was said by former US Federal Reserve chairperson Alan Greenspan in a recent interview with the Dutch financial newspaper Financieele Dagblad. European leaders’ establishment of the euro was not driven by economic considerations, Greenspan said ...
Posted on 27 May 2015 | 12:28 am
Greenspan blows the lights out at crisis
The power was out for 23 minutes at a hearing where Alan Greenspan denied responsibility for the financial crisis before a panel investigating its roots.
Posted on 7 April 2010 | 9:26 am
Ex-Fannie Mae execs try to defend track
Two former Fannie Mae executives said Friday that competitive pressures, combined with the political goal of increasing homeownership, were to blame for the company's decision to back riskier mortgages that fueled the housing bubble.
Posted on 5 April 2010 | 9:59 am
Ex-Fed chief says economic downturn's end is
Former Federal Reserve chairman Alan Greenspan says the economic downturn is not quite over but that the end is nearing.
Posted on 2 August 2009 | 6:52 am
McCain says he would fire SEC chairman
Republican John McCain, buffeted by criticism about his response to Wall Street's financial problems, said Thursday he would fire the SEC chairman and create a special trust to help strengthen weak institutions.
Posted on 12 September 2008 | 6:27 am
Analysis: Bernanke Adopts Greenspan Tone
Fed Chairman Ben Bernanke borrowed a page from Alan Greenspan's crisis playbook when he promised emphatically to cut interest rates further if the weak economy needs the help.
Posted on 10 January 2008 | 2:16 pm
Resolved Question: Was I dreaming when
Alan Greenspan is probably more responsible for the global economic crisis than any other human being alive. @Doc: I'm aware Doc. Which is why most people of the people in those circles consider him a total hypocrite.
Posted on 12 October 2011 | 10:55 am
Resolved Question: Alan
What was his role when the internet bubble burst.And how internet bubble burst change the America.What were the after consequences. Was Henry Blodget responsible for internet bubble. Thanks in advance
Posted on 7 June 2011 | 11:02 am
Resolved Question: Am I right in thinking
What is the age span between these two?
Posted on 27 May 2011 | 10:03 am
Resolved Question: How complicit do you
Although Alan Greenspan had already been replaced as chairman of the Federal Reserve Board (in 2006) by the time the financial collapse of 2008 took place, there are some who believe he contributed to setting the stage for the collapse when he WAS chairman.
Do you think Greenspan has some of the "blood on his hands?"
Posted on 30 November 2009 | 1:01 pm
Resolved Question: Is Alan Greenspan a two
''-- that gold and economic freedom are inseparable''
''But the process of cure was misdiagnosed as the disease: if shortage of bank reserves was causing a business decline-argued economic interventionists -- why not find a way of supplying increased reserves to the banks so they never need be short! If banks can continue to loan money indefinitely -- it was claimed -- there need never be any slumps in business. And so the Federal Reserve System was organized in 1913''
''The excess credit which the Fed pumped into the economy spilled over into the stock market -- triggering a fantastic speculative boom. ''
', statists argued that the gold standard was largely to blame for the credit debacle which led to the Great Depression... (The irony was that since 1913, we had been, not on a gold standard, but on what may be termed "a mixed gold standard"; yet it is gold that took the blame.)''
'the realization that the gold standard is incompatible with chronic deficit spending (the hallmark of the welfare state). Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes. A substantial part of the confiscation is effected by taxation. But the welfare statists were quick to recognize that if they wished to retain political power, the amount of taxation had to be limited and they had to resort to programs of massive deficit spending, i.e., they had to borrow money, by issuing government bonds, to finance welfare expenditures on a large scale.''
''new government bonds can be sold to the public only at progressively higher interest rates. Thus, government deficit spending under a gold standard is severely limited. The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.''
''In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. ''
'The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves.
This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard.''
Don't tell me he just changed his mind because he was influenced by other writers.
I don't see how someone can go from believing in something so firmly and then abandoning it.
Posted on 16 September 2009 | 3:41 am