Greenspan: Ignore The Economy, "Only The Stock Market Matters"
Starting at around 1:50, Greenspan states the odds of sequester occurring are very high - in fact, the playdough-faced ex-Chair-head notes, "I find it very difficult to find a scenario in which [the sequester] doesn't happen" But when asked how this will affect the economy, Awkward Alan is unusually clearly spoken - "the issue is how does it affect the stock market."
While not so many of our leaders have taken the path to direct truthiness, Greenspan somewhat shocks a Botox'd and babbling Bartiromo when he admits "the stock market is the key player in the game of economic growth."
Bartiromo shifts uncomfortably in her seat, strokes her imaginary beard and stares blankly as Greenspan explains that while the sequester will have a real effect on the real economy, "if the stock market can hold up through this, then the effect will be rather minor."
He ends with a couple of wonderful truthisms - data shows that not only are stock markets a leading indicator of economic activity, they are a major cause of it - 6% of the change in the growth in GDP results from changes in the value of stocks and homes. So there it is - if we didn't already know, straight from an old horse's mouth - it's all about stocks!
Fiscal problems? "The problem is so severe at this stage that unless we come to terms with it in a large way, we are running into very serious trouble," but Dr. Greenspan, if stocks stay up, it's all good right? Greenspan's wealth effect meme is all there is...
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Fuck you Greenspan.
Greenspan is the evil jew banker that gives evil jew bankers a bad name. fuck'n tool
and his Big Nose wife Andrea Mitchel of MSLSD fame
Just when Krugman thought "Asshole of the Year" was in the bag...
Well said. Well said.
Wow, Greenspan and those who think like he does are really mental. They are confusing cause and effect. "Every time I consume beans I fart, therefore every time I fart I must have consumed beans."
Can you imagine Andrea Mitchell's olfactory senses when Alan farts in bed?
Actually, I am not being facetious when I say that he may be suffering from dementia. A lot of what he says is the old fool we've all learned to hate, but there were some babbles in there that were incoherent even by his standard. The "earnings-price ratio" was the first hint, but there were more like that. Do I still taste vomit when I listen to him? You bet. Is the loss of his mind sad? Not a bit.
GreenSpin
More like Greenscam!
this article had promised to be about latvian model girlfriends
-1000
What happened to this 'education is the solution' bullshit he was spouting when he was in office?
Economic wealth was always about rising house prices was it not?
LOL, Maria... "wealth effect of con-shoe-merz", wtf is a con-shoe-merz?
greenspam used to be on maria's list of regulars
OT: ZH Probably reported on this:
http://www.cnn.com/2013/02/15/justice/california-ex-mayor-gambling/index...
Notice he's "DOCTOR" Greenspan, not "SIR" Greenspan. Raises too many questions. And you don't hear anybody call him "MAESTRO" anymore.
He looks like a horse's ass.
This pos was senile in 1999.
When the last person loses their job....we can all just sit around and worship stawks.
History will show that CNBC created Greenspan. Until CNBC, Al was a $70K/yr bureaucrat, charged with the relatively minor job of being the figurehead of the Fed.... But once CNBC started turning him into a rock star with crap like "the briefcase indicator", all the other puppets in Washington- who collectively had NO IDEA what a real economy looked like- began to lay the "COO of the Economy" label on him- actually listened to his Ivory Tower crackpot bullshit, complete with fancy models far too complex for the politicians to understand, so they had to be right.....
When Al cut the legs out from under the potentially greatest economic boom in history in 1999, he was given unilateral power to do so, because none of the other puppets were getting on CNBC and challenging the frenzy except "The Great Greenspan"....... So when Al "irrational exurberance" shut down growth far too early, he tried to make it up by artificially inflating housing prices- he was given free-reign to change Fed rates almost weekly, which absolutely contributed to the weakness and credibility of the system.
Now Al spends his days denying that ANY of this is his fault- he got a taste of being a rock star, and doesn't want to give up his Manhattan party-circle. Bottom line is that ANYTHING out of this guys mouth is ultimately from a career bureaucrat who actually flunked out of Economics in grad school, and until he was annointed by Volker, had never seen the light of day- a career mushroom.
Greenspan actually said, and I'm doing my best merely to be precise here, that equity prices are determinative of 6% of the change in growth of GDP (which is probably some errant stat that he pulled from his demented asshole or arrived via some form of tortuous butchering-- or was a statistic that was fed to him by someone else that he regurgitated mindlessly).
However, he not only came close to Irving Berlin's infamous (and 1929 pre-market crash) "stock prices have reached what appears to be a permanently high plateau" statement, but absolutely REPEATED IT ALMOST VERBATIM -
Listen to 2:30 to about 3:30 -
It's absolutely & literally--
-- all over again.
He also said that the sequester was all but guaranteed, and made some other flippant, casual statements of "Greenspaniasms" (Greenspaniasms are statements pertaining to matters of often times critical subject matters and events that are made in such a way that they're treated as if they should carry tremendous weight and credibility, when in fact, the opposite is true, based on the accuracy -- or lack thereof to be more precise -- of Greenspan's past predictions).
That's a FIRM SELL, from Alan "Irving Fisher v2.0" Greenspan.
starve these fuckers like they are starving us.
buy PMs, buy LOCAL goods, minimize energy use, grow food, trade/barter with businesses/farms, sustain yourself, be healthy, love others.
do it now, because you'll be doing it at some point anyway. better to be ahead of the game before it all comes crumbling down.
I meant Irvin Fischer, not Berlin, above.
I was thinking of "Blue Skies" (from the great crash/depression era), probably.
Blue Skies - 1927 - Irving Berlin
Greenspan: "Market can't go down very much"
Holy fuck we just had our "Stocks are at a permanently high plateu" moment.
Brace yourselves, the shit is getting real in 2013.
Edit: I'm sorry but the sheer fuckedupness of this made me comment without even reading the others. Truthinsunshine once agains nails it. This is the strongest sell signal we could have.
HERE WAS THE SHOESHINE BOY MOMENT: http://www.zerohedge.com/news/2013-02-08/friday-farce-16-year-old-outper...
Welcome to 1929, matharfackars!!!
"Listen to 2:30 to about 3:30 -
It's absolutely & literally--"Stock prices have reached what appears to be a permanently high plateau.""
Maybe TIS listened to a different vid.
What AG actually said was stocks are trading at a risk premium and P/Es are unlikely to come down with the sequestration.
(Stock profits may actually go up as government robs the economy a little less.)
Invert the current SPX PE of 14.7 and stocks have an earnings yield of 6.8% vs TNX 2.007% and TYX 3.79%.
Underpriced bond interest yields have a way to come up and overpriced stock earning yields a way to fall for these two mispriced assets to connect.
In other words, higher stock market P/Es, still not a popular concept since March 2009 before PEs went to 26.69.
As AG used to demonstrate with his Fed gold real interest rate rule, gold as well as copper/ lead/lithium/nickel/pall/plat/silver/copper/zinc, all rise with scarcity and demand, inflation and interest rates, especially after the Fed stops trying to ride a wild $707 T global/$227 US credit derivatives market:
http://www.occ.gov/topics/capital-markets/financial-markets/trading/deri...
Ron Paul got BB, but not AG, to say, "gold is not money."
The same AG who claimed "no agency of government can overrule Fed actions," despite the US Constitution stating in Article I:
Section. 7.
All Bills for raising Revenue shall originate in the House of Representatives; but the Senate may propose or concur with Amendments as on other Bills...
Section. 8.
The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;
To borrow Money on the credit of the United States;
To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes;
To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States;
To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;
To provide for the Punishment of counterfeiting the Securities and current Coin of the United States;
http://www.archives.gov/exhibits/charters/constitution_transcript.html
The US Constitution does not authorize a central European-Style bank Jackson/Jefferson described as a hydra more dangerous than a standing army. Thus the Fed is extra-legal.
No wonder Fed officials enjoy diplomatic immunity, Fed owners earn 6% dividends on leveraged usury and the Fed pays no income tax.
Anyone who reads Article I, Section 10, Paragraph 1 of the US Constitution knows gold and silver are legal tender in settlement of debts.
When the time comes to settle current US Debts, like Continentals with BNY TresSec Hamilton's Whiskey Tax and Greenbacks with Lincoln's Income Tax declared unconstitutional by SCOTUS, relatively scarce gold and silver will explode in price as paper dollars, currently targeting an unbelievable USD 103, fall to new lows illustrating Gresham's/Copernicus'/Aristophanes' Law:
http://en.wikipedia.org/wiki/Gresham's_law
American Eagle Gold, silver, palladium and platinum coins are IRA eligible legal tender guaranteed for content, face value and weight by the US Mint and Secret Service:
http://en.wikipedia.org/wiki/American_Platinum_Eagle
Believe it or not, counterfeit American Eagle Silver Coins hit coin stores:
http://www.coinworld.com/Articles/ViewArticle/fake-american-eagle-silver...
Still ccumulating precious physical from $1 and $100 an ounce, SPY and selling short TLT from 130.26.
Silver Senator rules...
$70K/YR for CNBS talking heads? You grossly Underestimated their pay. They are getting paid more like $170K/YR!
Too many people believed this nitwit for too long and this is what you get when you listen to a paid fool
shit show for life
welcome to the new always to be new normal
U can take the Jew out of the Ghetto. U cannot take the Ghetto out of the Jew. The Tribe looks at the world with absolute hostility, same as they did when first let loose.
He's not Jewish. The religion of the Elite is Luciferian, very different from Judaism.
horseshit. The Jews' own God, a self-projection, tells them: "for ye are of the Devil". They revel in their own wickedness. And find in persecution proof of Chosenness.
from Wiki
~~~
Greenspan was born in the Washington Heights area of New York City. His father Herbert Greenspan was of Romanian-Jewish descent and his mother Rose Goldsmith of Hungarian-Jewish descent.[7] His father worked as a stockbroker and market analyst in New York City.[8]
Greenspan attended George Washington High School from 1940 until he graduated in June 1943, where one of his classmates was John Kemeny.[9] He played clarinet and saxophone along with classmate Stan Getz. He further studied clarinet at the Juilliard School from 1943 to 1944.[10] Among his bandmates in the Woody Herman band was Leonard Garment, Richard Nixon's Special Counsel. In 1945 Greenspan attended New York University where he earned a B.S. degree in economics summa cum laude in 1948[11] and an M.A. degree in economics in 1950.[12] At Columbia University, under the tutelage of Arthur Burns, he pursued advanced economic studies but dropped out.[13]
U.S. economist Michael Hudson once fired Alan Greenspan, in 1966, 21 years before he became chairman of the U.S. Federal Reserve; "he was known as a hack that always gave ... his clients what they wanted instead of something actual".[14] In 1977, Greenspan obtained a PhD degree in economics from New York University. His dissertation is not available from the university[15] since it was removed at Greenspan's request in 1987, when he became Chairman of the Federal Reserve Board. However, in April 2008, Barron's obtained a copy, and notes that it includes "a discussion of soaring housing prices and their effect on consumer spending; it even anticipates a bursting housing bubble".[16]
~~~
I love that bolded part
Darn you, francis_sawyer, you had to tell me that Greenspan played clarinet along side of Stan Getz. I'll conjure up that disturbing mental image in my brain now every time I listen to my recently downloaded Mp3 version of "The Girl From Ipanima":-(
Reportedly: He wasn't wearing any pants either...
People come to these threads and see these comments about Jewish people and decide this is a racist forum. If you guys truly want the message to get out, you have to stop with bashing Jewish people - or any person's race for that matter. Focus on their behavior.
political correctness has been used as a weapon, to the detiment of all. Btw, what 'race' exactly are "Jewish" people?
"If you guys truly want the message to get out... Focus on their behavior."
~~~
WTFF?... Umm... Greenspan is, at best, a moron & at worst a criminal moron... What part of that don't you understand?
~~~
"People come to these threads and see these comments about Jewish people and decide this is a racist forum"
Says who?... You?... You presume to know what every ad hoc person that comes by ZH thinks [or are you conveniently applying YOUR ideas to the collective? ~ Try using THAT defense in a courtroom ~ it's in the 'Liar Liar pants on fire' chapter of your Law book]... If people are not smart enough to make their own distinctions [on WHATEVER subject], then ZH is probably not the place for them in the first place...
If I say something, I'm just saying it [because it's what I feel]... f people agree, [or disagree], that's their business...
~~~
Edit: Somebody forgot the Greenspan Theme Music
http://www.youtube.com/watch?v=t8GTHXTEvIc
I personally do not give a flying fuck what any of you people making these inflamatory comments thinks. What I do think is that there could be people visiting this forum for the first time seeing this and be turned off by it. The truth that is at ZH needs to get out to a wider audience. Taking the time to bash someone based on their race or religion only muddys the water - and it has nothing to do with PC, it is simple decency. Do unto others as you would have done to you.
Then again ~ they could come & see bigkahuna comments & laugh their asses off...
~~~
It's all relative, you see...But thank you for your concerted attempts to regulate thought...
As for 'doing unto others'... What I hope for is that people say what's on their mind [which is as close to the TRUTH as it comes]... Bullshitting people for the sake of artificial decorum rarely works in the long run in a world where 'ON A LONG ENOUGH TIMELINE...'
Boo-hoo.
If "people" (Jewish or otherwise) don't like being associated with this type of misanthropes, they just have to expose them for what they are and disassociate from them - if they're really concerned with being associated with them in the first place, that is...
It's like you calling some banker a criminal and then "people" coming and deciding this an anti-capitalist forum, bent on bashing capitalists for the sake of it.
Btw: Jewish is not a race; Human is.
He is wearing Depend
Just wondering why he wasn't on Omaha beach in '44 like many other boys who left high school in 1943?
Hate to add on, but you are right.
Worse is that they have even Christians calling them the chosen people and of God and doing their dirt work for them. Chosen people are the ones who accepted the new covenant.
Christians bend over backwards for the jew, what have they ever done in return?
They're trying to instruct everyone in the ways of the 3 Card Monti ~ but are finding that most are slow learners...
~~~
Dewey Oxberger
http://www.youtube.com/watch?v=gzZNh0P9K38
franc
we need to talk, the schtick you're going with needs more nuance, the cliche you're running with has been assimilated into the story you rail against and is turned back onto yourself without your understanding. Think quick sand, the more you struggle the more you sink. You need a far more nuanced sophisticated approach to your grievances than just joo hoo crying all the time.
I have no agenda here...
~~~
- I'm not running for political office
- I don't give a shit about nuances
It is my interpretation, which I've stated many times before, that there is an absurdly high representation of people [who happen to be jews], in nodes of power & control... Therefore ~ I do not believe it to be out of the realm of logic to lay a heaping share of blame at that doorstep...
I wouldn't give a FF if the 'absurdly high representation' were, say, 'jews who ran delis', chinese who ran dry cleaning shops, or latinos who ran landscaping services... WHY?... Because NONE of the aforementioned are POWER NODES... Furthermore ~ none of them are trying to steal my money, my guns, wreaking havoc on the world economy, or trying [at every turn] to tell people what to do...
I'm not telling people what to do here... I'm stating that I resent that it's THESE PEOPLE, who seem to want to tell me what to do each & every day... I resent that & will speak out against it whenever possible...
What have they ever done in return? Remember the Liberty. http://www.gtr5.com/
Here’s a little tribute to “The Maestro” and his legacy.
They should play it at his funeral.
http://www.youtube.com/watch?v=vIh_Zft2dBo
Green Eggs and GreenSpam...
Yep, you can bet his farts are raunchy ripe!
I'm still waiting for LasVegasDave to come by add "Dr. Greenspan" to his honorable Hall of Fame List...
Greenshit!
He has had his day, even if his day was during one of the greatest credit expansions ever (second to the Bernank's). He, just like a bunch of the old monied fools (Buffet) are beyond their time. Eskimos would have sent him out on an iceberg. But in today's day the establishment loves to have an idol to roll out in front of his peer group.
Greenspan is the same as Kim Kardasion. The same as Bill Clinton. Someone whom Americans (brainwashed as they are) look at and say, "Hey! That person is just like me!"
He is just someone they roll out to quiet dissent. That is all.