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Behold The Face Of Central Banker Hubris

Tyler Durden's picture




 

Submitted by Simon Black of Sovereign Man

Behold The Face Of Central Banker Hubris

March 18, 1996. It was the height of the dot-com boom years. And gracing the cover of Fortune magazine was a photo of a rather smug looking Alan Greenspan, then Chairman of the US Federal Reserve.

The headline across the top-- "It's HIS economy, stupid". The inside story was entitled "In Greenspan We Trust".

And the article went on to suggest that, no matter WHO won the presidential election that year between Bill Clinton and Bob Dole, Greenspan would still be running the economy. And handily.

This is a major testament to the state of our financial system. We award a tiny banking elite nearly totalitarian control over our money supply... and by extension, the economy.

We're just supposed to trust that they're good guys. Competent guys. That they know what they're doing.

Fast forward almost two decades. Long Term Capital Management. The NASDAQ bubble. The real estate bubble. The credit crunch. The mortgage crisis. The banking crisis. The sovereign debt crisis.

Now, this seemingly interminable series of emergencies is by no means the consequence of a single individual. But it's clear that Greenspan (and his successor Ben Bernanke) have had, by the very definition of their position, tremendous influence in getting us to this point.

Yet Greenspan's new book, The Map and the Territory, explains why he never saw any of this coming.

(You can read some of this for yourself if you're so inclined-- Foreign Affairs magazine just published an adapted excerpt from the book.)

Greenspan's explanation is as infuriating as it is arrogant.

He stops far short of accepting any responsibility, and merely states that the "conventional method of predicting macroeconomic developments. . . had failed when it was needed most, much to the chagrin of economists."

And of course, he melts his culpability away into the great masses of other economists, brashly stating that "virtually every economist and policymaker" completely missed the warning signs.

Yet as irritating as Greenspan's confession may be, there is no surer condemnation of this faux-science of economics than a former maestro himself pillorying its deficiencies.

Let's put it more bluntly. The guy who used to be in charge of the US economy openly admits that the 'science' they rely on to make decisions is fundamentally flawed.

The only thing these central bankers know how to do is print more money. Yet, as Greenspan tells us, they're completely ill-equipped to be making these decisions. Nor do they realize how severe the consequences will be.

John Maynard Keynes, the godfather of their economic models himself, once wrote:

"The process [of debasing the currency] engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose."

Not one man in a million. Based on Greenspan's own admission, this includes central bankers as well.

If all the objective evidence, and even their own assessment, points to the inevitable conclusion that this system is broken, isn't it time to consider taking independent steps outside of this system to protect what you've worked for your entire life?

 

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Sun, 10/27/2013 - 19:10 | 4096090 FieldingMellish
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All hail Mr. Yellen!

Sun, 10/27/2013 - 19:39 | 4096165 NoDebt
NoDebt's picture

Indeed.  We'll be at a buck-twenty with 9 zeros behind it PER MONTH by the end of his/her first year.

Greenspan... just trying to walk back his earlier statements that were tantamount to admission of guilt.  All the regulators crawling all over the banks even before 2008 and they couldn't see it coming?  Please.  I'm not buying it.  There are only two possible excuses:  incompetence or corruption.  Make them both punishable by public hanging and I will no longer care which way they plead.

Sun, 10/27/2013 - 20:03 | 4096215 Zer0head
Zer0head's picture

sadly there is a paywall but if any canucks are out there and have access

 

Bank of Canada Governor Stephen Poloz has dropped the bank’s tightening bias.

 

Poloz dubbed ‘Yellen of the North’ for loosening language

At last, the Bank of Canada is acknowledging what plenty of business people and more than a few analysts have been saying for the better part of two years. Canada’s economic engine is sputtering, that troubled U.S. and emerging export markets are in no position to provide a badly needed lift and that previous forecasts were simply too rosy.

Sun, 10/27/2013 - 21:39 | 4096435 markmotive
markmotive's picture

Greenspan doesn't need to apologize because he's a mere human. And humans never apologize.

http://www.planbeconomics.com/2013/10/greenspan-i-dont-apologize-for-mis...

Sun, 10/27/2013 - 23:44 | 4096708 TwoShortPlanks
TwoShortPlanks's picture

First Rule of Bankruptcy: When faced with certain Bankruptcy and subsequent Liquidation of assets, transfer all good assets and equity into a newly created entity, and hang the creditors with the toxic assets and debt of the old.

China’s Bretton coup d'état: http://twoshortplanksunplugged.blogspot.com.au/2013/10/chinas-bretton-coup-detat.html

Mon, 10/28/2013 - 08:50 | 4097093 GMadScientist
GMadScientist's picture

You're on the right track watching the SDR, but the thrice abuse of metaphor is unnecessary.

 

Sun, 10/27/2013 - 22:29 | 4096581 Otrader
Otrader's picture

Ha!! Pretty close.  But, why must you insult the blobfish?

 

Mon, 10/28/2013 - 08:51 | 4097100 GMadScientist
GMadScientist's picture

Asians will totally eat that; possibly raw. Greenspan? Not so much.

 

Sun, 10/27/2013 - 20:37 | 4096298 geminiRX
geminiRX's picture

That policy statement the last nail in the pending Canadian economic disaster. They desperately needed to increase rates to kill the housing bubble. The "splat" will be epic. 

Sun, 10/27/2013 - 20:55 | 4096343 DaveyJones
DaveyJones's picture

and a lovely face it is Jack

Hughe's Bris 

Sun, 10/27/2013 - 21:40 | 4096439 markmotive
markmotive's picture

Canadian housing - if it is in a bubble - is beyond saving via monetary policy.

Sun, 10/27/2013 - 20:31 | 4096287 Caviar Emptor
Caviar Emptor's picture

NoDebt: the Savings & Loan crisis was the first clearcut sign that real estate was a bubble and banking was in  conspiracy with politicians and the Fed (can you say Neil Bush?)

Sun, 10/27/2013 - 20:04 | 4096217 Jack Burton
Jack Burton's picture

Indeed! Yellen? What we are seeing is another victory for the Greenspan Party that has a death grip on the US financial system via their sole ownership of the Central Bank of the USA. This branch of government is not elected, is not responsible for a fair and balanced free market economic model. NO! There are given the freedom and right by law to run the financial system for the interest of a small group of bankers and their employees across upper management in the banking system.

American are slaves to banks and the banker class. Nobody can argue that point, in fact, nobody even bothers to try and argue that American Banks are not using the system they control to profit themselves and to strip 99% of America of it's savings, it's earnings and it's economic future. The fact that both US political parties support this system and defend it show that the corporate bribes they take does effect their votes and their party governance.

Sun, 10/27/2013 - 20:40 | 4096308 Caviar Emptor
Caviar Emptor's picture

American are slaves to banks and the banker class. Nobody can argue that point

JAck: It's true, but merely one facet of the truth. American vanity and exceptionalism, embodied in the joking references to Greed Is Good, Shop Till Ya'All Drop, The Decade of Excess....etc also tell of another truth: most Americans were unwilling to do the hard work and heavy lifting that it would take to re-build a new and stronger economy. That is unfortunately one of teh hallmarks of a society once vital entering into decline. The "Can-Do Spirit" was gone and citizens voted overwhelingly for politicians that would maintain the status quo and oppose any kind of serious reform but support an ever stronger and more paranoid military/intelligence complex. The thoughts at the time of the fork in the road were that Americans had evolved beyond making anything and had evolved into brains -only service workers, and the capitalist/bean counters to the rest of the backward planet. Things turned out different than was hoped

Sun, 10/27/2013 - 21:03 | 4096363 Ranger4564
Ranger4564's picture

No one argues because it is a fundamental aspect of capitalism. As much as people are loathe to accept culpability, profiteering is what is celebrated by most people, mostly brainwashed people, and those doing the profiting. It is pretty tough to challenge those who profit the most, when your own objective is to be like them, only you're not.

The reason so many people in business can be so unethical, is as the mantra goes, there is no room for morality in business - they mean capitalism.

We're not watching the death of capitalism, we're watching the death grip of capitalism. People can't seem to recognize the difference. When Rockefeller was destroying all of the other oil producers, he was being a capitalist. He had them by the balls. Same way the bankers have us by the balls. To imagine a more noble form of capitalism is naive. When was there a "fair" economy?How can you describe fair when profit is the only imperative?

The other irony, or I can't believe you can say that, is people will say that it's impossible to control the global markets, that no one can control the economy, that the reason free market capitalism is so necessary is because of the price discovery mechanism, but then the same people will complain that there are people who are warping / distorting the market, killing free market capitalism. So it can be controlled? Like the Libor scandal / IMF / BIS / WTO / FED / bubbles / crashes / gold price suppression / bitcoin collapse / boom doom and gloom?  Geezus... people, there is no economy, you / we've all been had. And the main criticisms of economics are laughable. They are not trying to explain the mechanics of our social exchange. They are describing the world according to their model of theft.The past 5 years should be proof to everyone that someone can control the economy and they have been controlling the economy for a very long time.

 

 

Sun, 10/27/2013 - 21:14 | 4096373 Cabreado
Cabreado's picture

It is interesting that when (not just) you argue that the control is with the bankers, you also reference Congress but effectively give them a pass, in the context of Control.

Congress could shut the Fed down in an instant -- that is the Control point.

That they are corrupt and defunct does not change that fact.

That We refuse to acknowledge that fact -- that is where the pissing in the wind and lost last chances come in.

Mon, 10/28/2013 - 09:01 | 4097127 GMadScientist
GMadScientist's picture

So all we need to do is find a few hundred good men (or women!), get them duly elected, get the Feds charter revoked, end fractional reserve banking. Right.

(difficult to win a shouting contest with people who can print megaphones)

Or perhaps a new constitutional convention originated at the state level (RTFM!) would have a better chance at success?

(but these people can't even figure out they're being hoodwinked every four years)

Or just a campaign against the bankers themselves, not to "occupy", but to inform people enough that they can defend themselves from these behemoth leeches, nulling their influence from the bottom up?

(you assume they don't want to be as financially raped as the joneses)

Or just defend you and yours and hope others have the good sense to do the same?

(hopeless, unless you've networked with enough others to matter)

Perhaps some combination of all of the above.

(or not)

Sun, 10/27/2013 - 20:33 | 4096291 Renewable Life
Renewable Life's picture

until the middle class in America finally wakes up to the fact that Central Banks in control, is nothing more then socialism run by bankers, as opposed to socialism run by the military, nothing is going to change!!!

Until then, it's BTFD to the moon, or PM and ammo........ Or do both!!

Sun, 10/27/2013 - 19:13 | 4096096 Seize Mars
Seize Mars's picture

Deuteronomy 32:35

"Vengeance is mine, says the LORD..."

Sun, 10/27/2013 - 20:18 | 4096246 BigJim
BigJim's picture

And CAPs too, apparently.

Sun, 10/27/2013 - 21:46 | 4096466 SubjectivObject
SubjectivObject's picture

Long Obsolete Reactionary Dogma.

Sun, 10/27/2013 - 23:52 | 4096728 Jumbotron
Jumbotron's picture

Just die Greenspan

Mon, 10/28/2013 - 05:22 | 4096899 BringOnTheAsteroid
BringOnTheAsteroid's picture

Yes indeed, the lord is a vengenful mother fucker.

Mon, 10/28/2013 - 09:02 | 4097143 GMadScientist
GMadScientist's picture

"The cheetohs are mine too, sayeth the Lord...so totally don't eat those, or you shall feel my wrath for generations."

(why you wouldn't want God as a roommate)

 

Sun, 10/27/2013 - 19:14 | 4096100 Iam Yue2
Iam Yue2's picture

There is of course one common theme; on each and every occasion the insiders bought the dip, and the sheeple got mugged.

Sun, 10/27/2013 - 20:06 | 4096222 Carl Popper
Carl Popper's picture

But of course you state the obvious.

"the last duty of a central banker is to tell the public the truth.". Alan Blinder

Credulous sheeple are to be fleeced.

Sun, 10/27/2013 - 19:16 | 4096103 Professor Fate
Professor Fate's picture

That is not the face of "Hubris".  That is just plain old "Bris".

Fate the Magnificent
"Push the Button, Max"

Mon, 10/28/2013 - 09:04 | 4097148 GMadScientist
GMadScientist's picture

Don't wiggle, you're distracting the Mohel.

Sun, 10/27/2013 - 19:16 | 4096107 Son of Captain Nemo
Son of Captain Nemo's picture

Kermit the Frog with horns, bifurcated tongue and a pitchfork.

Sun, 10/27/2013 - 20:07 | 4096226 Newfie
Newfie's picture

I was thinking that picture looks like my dick after sex

Sun, 10/27/2013 - 22:20 | 4096553 Otrader
Otrader's picture

lol.  make sure she doesn't see it after sex, or there won't be a next time.

Sun, 10/27/2013 - 22:27 | 4096575 americanreality
americanreality's picture

More like "he". 

Sun, 10/27/2013 - 19:18 | 4096108 kaiserhoff
kaiserhoff's picture

Some great points in this piece.

Many of our problems date to Greenspan's panic reaction in 2001 to the 911 attacks.

Sun, 10/27/2013 - 19:21 | 4096117 ParkAveFlasher
ParkAveFlasher's picture

You really can go further back.  Events may accelerate the course but the end does not change.

Sun, 10/27/2013 - 20:01 | 4096209 putaipan
putaipan's picture

and 911 was a cover up, literally buried under a million tons of wtc ruble, of the crimes of the previous 50 years...

Sun, 10/27/2013 - 20:10 | 4096229 Carl Popper
Carl Popper's picture

Well. If we can secretly monetize two trillion in treasury bonds and make the evidence go poof then all of us won to a certain extent. All of us Mericans, that is. We would have been net way ahead if it werent for the cost of those two pesky wars.

Sun, 10/27/2013 - 20:11 | 4096234 putaipan
putaipan's picture

yeah, well- "never let a good crisis go to waste" ... and on to the next crime wave.

Sun, 10/27/2013 - 19:18 | 4096113 TeamDepends
TeamDepends's picture

No.

Sun, 10/27/2013 - 19:18 | 4096114 ParkAveFlasher
ParkAveFlasher's picture

Who do you believe in this amoral world?  

Sun, 10/27/2013 - 19:29 | 4096132 Winston Churchill
Winston Churchill's picture

Don't want to parse but immoral.They know damn well

what they are doing is wrong.They just DGAS.

Sun, 10/27/2013 - 19:46 | 4096182 ParkAveFlasher
ParkAveFlasher's picture

You are not parsing, you are asserting.  I would continue to assert for myself, that the laws of physics do not discriminate right from wrong, thus the world is inherently amoral with little pockets of human trust systems that can be further defined, within the subcontext of themselves, as moral or immoral.  Snowflakes have no morality.  They can't be trusted.

I completely agree.

Sun, 10/27/2013 - 19:21 | 4096120 no more banksters
no more banksters's picture

"At the beginning of last decade, when the towers of the World Trade Center collapsed during 9/11 attacks, the market suffered the biggest drop in history. Two weeks later, the “Enron” scandal revealed, and quickly became clear, that this was just the tip of the iceberg of a massive fraud from the corporations. Since the early 90s, many major companies were presenting fake profits, hiding their debts, with the help of the largest accounting firms. The paradox is that in the mid 90s, Greenspan had already realized that something was wrong with the economy, but ultimately convinced himself that computers were increasing the productivity in novel ways, too new to be detected in the data."

http://failedevolution.blogspot.gr/2012/07/the-illusion-of-self-regulati...

Sun, 10/27/2013 - 20:15 | 4096240 Carl Popper
Carl Popper's picture

Yogi Berra is a lot smarter than Greenspan

"in theory there is no difference between theory and practice, but in practice there always is."

"Damn humans arent doing what I expect them to do," says a perplexed Greenspan lol

Sun, 10/27/2013 - 19:22 | 4096122 PaperBear
PaperBear's picture

And the soon to arrive currency crisis.

Sun, 10/27/2013 - 19:25 | 4096129 dcohen
dcohen's picture

Greenspahhu, Yellenhu, Bernankhu AKBAR !

Sun, 10/27/2013 - 19:26 | 4096130 LetThemEatRand
LetThemEatRand's picture

"We're just supposed to trust that they're good guys. Competent guys. That they know what they're doing."

It has nothing to do with trust.  The bankers own the country which is why the head of the Federal Reserve (a cartel of private banks) remains even when a politicians wearing a different Team color from the last one comes into office.

Sun, 10/27/2013 - 20:16 | 4096239 Jack Burton
Jack Burton's picture

Two Parties playing for the same team. Obama kept the Bush economic team on the job after winning an election in which he promised hope and CHANGE. Yet, a large number of people presist in claims that Obama is a socialist. Very odd! Then we see income disparity pushing high income earner's incomes to record level. No matter, "Obama is a socialist". Corporate profits make all time highs, while tax laws allow then to reduce their tax liabilities to all time lows. But still the same chatter "Obama is a socialist. Bank bailouts perfected under Bush were kept in place and the bailout liabilites passed onto the public. While the refrain "Obama is a socialist went on. The Federal Reserve got no pressure from Obama to change it's giant wealth transfer, from bottom to top, machine QE. Never mind "Obama is a socialist.

The point I am making is The supposed socialist president has presided over a policy that favors in every way imaginable the Bankers, Banks, Hedge Funds, inherited wealthy, the elite 1% who hold most equites, and others in the top income brackets. Their taxes are lower than in over 60 years, their incomes absorb all income growth due to productivity gains, they are in fact at a point of income disparity not seen since the 1920's and under Obama this income is growing at the fastest pace in modern history. That the president responsible for this can, with a straight face, be called a true socialist, shows you that both parties are the same, and the giant lie machine is busy trying to make people believe there is a difference, and that under Obama, corporations and the eltie wealthy are being robbed of their incomes and profits. My god, some people are fucking blind! Do they not GET IT???

Sun, 10/27/2013 - 20:18 | 4096248 dick cheneys ghost
dick cheneys ghost's picture

Right on.................but dont tell freddie

Sun, 10/27/2013 - 20:22 | 4096254 Carl Popper
Carl Popper's picture

He is a statist socialist. The authoritarian kind that feels our "betters" should rule us. This includes the banking aristocracy and old money families which work hand in hand with useful idiots of the socialist persuasion to make sure all sheep are fed and watered. The shee are content but know not that they are to be fleeced.

Socialism in alliance with moneyed interests is thefascist model. It built great roads though.

Sun, 10/27/2013 - 20:46 | 4096325 Pure Evil
Pure Evil's picture

Not too many people want to admit Bush was also a socialist.

Sun, 10/27/2013 - 20:59 | 4096347 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Shrub was a frat boy useful idiot who was easily controlled because of his pedigree. He reminds me of the alien frat boys (dude my dad owns a dealership) on the cartoon Aqua Teen Hunger Force. It is puppeteers that are the real problem. They are all Marxists at the end of the day. The right is primarily Fascist in their approach while the left is primarily Socialist in their approach. It is the illusion of choice Carlin used to like to talk about.

Sun, 10/27/2013 - 21:03 | 4096361 FeralSerf
FeralSerf's picture

They all have to be socialists. WTF are they going to do with all that absolutely useless human capital besides just keep them in the corral and feed them?

Sun, 10/27/2013 - 22:15 | 4096542 Otrader
Otrader's picture

He WAS NOT!!! He had a 'R' next to his name.  You guys make it sound like they're the same party.

Mon, 10/28/2013 - 09:59 | 4097343 GMadScientist
GMadScientist's picture

"Not too many people want to admit Bush was also a socialist."

Bullshit. I point out that pill-pandering hypocritical putz and Medicare Part D all the time; not to mention his dedicated work with indigent military contractors.

Sun, 10/27/2013 - 22:18 | 4096545 RaceToTheBottom
RaceToTheBottom's picture

"My god, some people are fucking blind! Do they not GET IT???"

They go with the easiest answer.  Their hate masks stupidity and enables the banksters to make sure they are rewarded for their stupidity.

 

Sun, 10/27/2013 - 23:20 | 4096679 “Rebellion to t...
“Rebellion to tyranny is obedience to God.”-ThomasJefferson's picture

Well said. 

 By evil design, people are incomprehensibly lazy and stupid.  We are no longer a nation of immigrants striving for a better life for ourselves and our families.  We are simply looking to get by.

The banksters/cronies/political hacks/talk radio-tv bullshitters have us convinced the world we live in is democrats vs republicans.

In reality, 99% of this nation has been beaten, robbed, and forcibly raped by a cosortium of greedy, heartless, motherfuckers.

Brings me back to an old favorite.

"That Old Wheel"
(Johnny Cash with Hank Williams Jr.)

That old wheel is gonna roll around once more
When it does it will even up the score
Don’t be weak: as they sew, they will reap
Turn the other cheek and don’t give in
That old wheel will roll around again

When love is gone and the one you thought would stay
Does you wrong, and you’re left alone to pay
The price is high
But somehow you’ll survive, don’t give in
That old wheel will roll around again

There’ll be times, hard to control
And you’ll find you’ll hurt down in your soul
There’ll be those who’ll be glad to see you down
But don’t give in, that old wheel will roll around again

Roll around, around, again, again

Sun, 10/27/2013 - 19:26 | 4096135 IndyPat
IndyPat's picture

Behold...the Beak

Mon, 10/28/2013 - 10:01 | 4097350 GMadScientist
GMadScientist's picture

You do expect to see the old fart picking away at Ayn's carcass or something.

http://www.youtube.com/watch?v=wdROQ3zYwl0

Sun, 10/27/2013 - 19:29 | 4096140 highly debtful
highly debtful's picture

Instead of shutting up and silently contemplating the mess and misery he has helped cause, the man returns on stage with another book. Utterly disgraceful. 

Sun, 10/27/2013 - 20:25 | 4096265 Carl Popper
Carl Popper's picture

A book deal and speaking fees are thinly disguised payoffs.

Sun, 10/27/2013 - 19:30 | 4096147 “Rebellion to t...
“Rebellion to tyranny is obedience to God.”-ThomasJefferson's picture

This fucking A-hole is the Ace of spades of world wide terrorists.

Sad fact of the matter is he won the war; we got slaughtered.

Sun, 10/27/2013 - 20:39 | 4096290 LMAO
LMAO's picture

He got caught up in Randian script that told him to pursue his own happiness. Sadly he did not have second thoughts about hurting others in the process.  

The bastard found great pleasure in fucking us up really bad .

 

It was all about self-importance....

 

 


 

Sun, 10/27/2013 - 19:34 | 4096161 Duc888
Duc888's picture

Yoda: May the Farce be with you.

Sun, 10/27/2013 - 21:43 | 4096447 SubjectivObject
SubjectivObject's picture

I like Denninger's appelation: Mr. Magoo.

Sun, 10/27/2013 - 19:41 | 4096169 ebworthen
ebworthen's picture

The only "science" involved with Greenspan and the other central banking cronies is that they provide a PhD academic face to a non-government entity tasked with robbing generations of citizens and debasing their lives along with the currency for the sake of parasitic bankers.

Sun, 10/27/2013 - 19:44 | 4096178 nakki
nakki's picture

What's more repulsive?

Andrea Mitchell has sex with him.

 

He has sex with Andrea Mitchell.

Sun, 10/27/2013 - 20:31 | 4096201 Pure Evil
Pure Evil's picture

What's more repulsive?

Sex with Andrea or sex with The Wookie?

The sheeple want to know!

Sun, 10/27/2013 - 19:46 | 4096181 krispkritter
krispkritter's picture

BEHOLD!  The South end of a Northbound Horse! All Hail the Grasshole! 

A face in need of a bullet...

Sun, 10/27/2013 - 20:07 | 4096184 LeisureSmith
LeisureSmith's picture

I'm no biologist, but that right there is the face of a rodent. A Shrew or a Mole perhaps, those dead little eyes gives it away.

My bad, turns out Moles and Shrews are not rodents at all....so i'm gonna go out on limb here and say he's as a mongoloid rat.

Sun, 10/27/2013 - 21:46 | 4096463 bonin006
bonin006's picture

Are we talking about Greenspan or the alleged blobfish?

Sun, 10/27/2013 - 19:50 | 4096190 A Lunatic
A Lunatic's picture

The FED is an abomination. The U.S.A. is run by greedy, self serving, corrupt megalomaniacs that have seized control over every aspect of human existence. The whole world is bursting at the seams thanks wholly to the evils of a mere handful of men, unwittingly backed by the most apathetic and disgraceful representatives of the human species to ever populate the planet. Sure, Greenspan is an evil prick, but this shit could have been dealt with on numerous occasions, by many in positions to do so peacefully.......

Sun, 10/27/2013 - 20:32 | 4096286 Carl Popper
Carl Popper's picture

The future is bright for freedom

Drop out. Act and think local. Barter.

We are at the cusp of a maker society. Let's see them tax the voluntary and nonmonetary exchange between individuals. The future is bright for freedom as the state whithers away as fewer and fewer people are in the taxable work force.

Sun, 10/27/2013 - 20:58 | 4096351 A Lunatic
A Lunatic's picture

Agreed 100%.......Our freedom is not subject to the permissions of a corrupt and failed Nanny State, or any kind of government for that matter.......

Sun, 10/27/2013 - 19:53 | 4096197 LawyerScum
LawyerScum's picture

I try to live a peaceful life and in my heart I know all human life is precious, but every-time I see this little goblin's face I want to smash it in with a baseball bat until it is an unidentifiable mass of jelly.

Sun, 10/27/2013 - 19:58 | 4096203 Seasmoke
Seasmoke's picture

THE TRIBE HAS SPOKEN !!!!!

Sun, 10/27/2013 - 21:03 | 4096365 Carl Popper
Carl Popper's picture

Who are the tribe? Snicker snicker. God's chosen people? Lol.

Can I say that on zero hedge or will it get me banned?

It would be kinda cool to believe in a god that plays racial favorites and authorizes ethnic cleansing and the capturing and fucking of young virgins from the nonfavored tribe.

After all. Moses knew all women are pink inside and inherently equal.

Sun, 10/27/2013 - 20:00 | 4096206 A Lunatic
A Lunatic's picture

If you have not seen this it is worth the watch.........Dr. Ben Carson.

 

http://video.foxnews.com/v/2774819459001/is-the-government-getting-too-p...

Sun, 10/27/2013 - 20:03 | 4096211 DOGGONE
DOGGONE's picture

Hey Tyler,
Who ELSE did these warnings?
http://www.showrealhist.com/3warnsRD.html
Goldman, harvard, Yale, Wharton, Chicago, berkeley, ... ANY WHO ELSE???

Sun, 10/27/2013 - 20:02 | 4096212 orez65
orez65's picture

Alan Greenspan is the Darth Veder of economics.

Mon, 10/28/2013 - 02:52 | 4096846 JuicedGamma
JuicedGamma's picture

Seems more Gomer Pile to me.

Sun, 10/27/2013 - 20:03 | 4096214 Seasmoke
Seasmoke's picture

i dont even trust myself, so why the fuck would i ever trust any of these scumbags

Sun, 10/27/2013 - 20:05 | 4096219 holdbuysell
holdbuysell's picture

Looks more like the face of Gollum.

Sun, 10/27/2013 - 20:09 | 4096227 lasvegaspersona
lasvegaspersona's picture

Big deal. One currency dies another is born....happens all the time.

Sun, 10/27/2013 - 20:10 | 4096230 Running On Bing...
Running On Bingo Fuel's picture

Lots of hate but still no concrete solutions.

And you guys have been doing this for years, I've been watching. The couch is too comfortable and soon it will be too cold(45°F).

Over.

Sun, 10/27/2013 - 20:16 | 4096242 Pure Evil
Pure Evil's picture

So, what's your plan Gollum?

Lead us to Mordor maybe?

Sun, 10/27/2013 - 20:37 | 4096297 highly debtful
highly debtful's picture

ROB has got a point though. I have been thinking about this one for some time now: we all have a pretty good idea of what has gone wrong throughout these past decades, but the frightening bit is there does not seem a comprehensive plan B, something that would actually come in very handy if our western economies would suddenly implode (no longer a mere theoretical possibility, I'm afraid). And by comprehensive I mean really comprehensive, as in an alternative economic system that - while taking the continuous growth logic out of the equation - would actually work for us. Sure, there are proposals and partial solutions: a new gold standard, more "local" instead of "global"... But an alternative system that would feed 7 billion and keep 'm as happy and free as possibe? Tricky. 

Sun, 10/27/2013 - 20:52 | 4096338 Pure Evil
Pure Evil's picture

Plan B is civil war in America.

Kill all the gun owners, preppers, constitutionalists, and liberty minded people.

Implement the North American Union and disappear the US Constitution and the 50 states.

If they have to kill a hundred million people plus, so be it.

They can always import a new population when its all over.

Sun, 10/27/2013 - 21:01 | 4096355 A Lunatic
A Lunatic's picture

I thought that was still part of plan A........

Sun, 10/27/2013 - 21:33 | 4096423 Pure Evil
Pure Evil's picture

Plan A is to steal everyone's wealth anyway imaginable.

Plan B is to eliminate all the useless eaters whose wealth was just stolen.

Plan C is to install a more placid sheeple that won't bleat when sheared.

Mon, 10/28/2013 - 02:39 | 4096836 itsallbunk
itsallbunk's picture

Hey Evil, the latest list from das Homeland Security had your list (gun owners, preppers, constitutionalists, and liberty minded people) just after  evangelical Christians, Buddhists, and then Baptists.  

Buddhist??  Really???  Government overthrow by evoking the word "OM" just like the Knights warded off those they disliked by saying "NI" - yep, now I get it.


Sun, 10/27/2013 - 21:00 | 4096353 Running On Bing...
Running On Bingo Fuel's picture

The problem with a civil war theory is that a civil war is between countrymen. If the opponent holds both a US passport and an Israeli passport is it a civil war?

Sun, 10/27/2013 - 21:05 | 4096366 Pure Evil
Pure Evil's picture

You mean an Indonesian passport and a Hawaiian birth certificate.

Sun, 10/27/2013 - 21:11 | 4096374 Running On Bing...
Running On Bingo Fuel's picture

So Obama is the root cause here?

Sun, 10/27/2013 - 21:30 | 4096383 Pure Evil
Pure Evil's picture

Obama's a root alright.

 

As to the cause?

Obama didn't invent the world of corruption, he just learned to play the game rather well, as did all of his predecessors.

Sun, 10/27/2013 - 21:10 | 4096379 Carl Popper
Carl Popper's picture

Have you cleared your comment with legal? Our masters do not like to be talked about in a non affectionate manner.

Sun, 10/27/2013 - 22:13 | 4096530 tvdog
tvdog's picture

there does not seem a comprehensive plan B

Comprehensive planning is the problem. People need to plan their own shit and leave others alone.

Sun, 10/27/2013 - 20:11 | 4096231 buzzsaw99
buzzsaw99's picture

rot in hell greedscum

Sun, 10/27/2013 - 20:13 | 4096236 diesheepledie
diesheepledie's picture

Just and benign Greenspan. He is soley responsible for creating more wealth than anyone else that has ever lived. If you didn't get rich in the 1990's you are too retarded to live. He is a great man.

Sun, 10/27/2013 - 21:21 | 4096372 formadesika3
formadesika3's picture

lol. Can't decide if you're employing horatian or juvenalian satire. Which begs the eternal question: are these fuckers more clowns or devils?

Can't decide from that picture. He seems excessively happy. Did he just get done spooging Brooksley Born up the wazoo?

Sun, 10/27/2013 - 21:15 | 4096384 Carl Popper
Carl Popper's picture

Lol. Everybody gets rich in the largest credit expansion the world has ever seen.

The natural consequence of said credit expansion is going to be a real bitch. Good luck holding on to it. Sadly like many others here, my poor boating skills lost me a fortune years ago.

Sun, 10/27/2013 - 21:24 | 4096410 Pure Evil
Pure Evil's picture

Yeah, everybody got rich in the 90's and now the lying greedy psychopathic Wall Street and District of Criminals scumbags are doing everything in their power to steal it back.

Mon, 10/28/2013 - 09:06 | 4097158 GMadScientist
GMadScientist's picture

You seem to have a very broken definition of the term 'wealth', which makes sense, given that you have no ethical compass and appear to be lacking a forebrain as well.

You are the Leroy Jenkins of finance and deserve everything that's coming for you.

Sun, 10/27/2013 - 20:22 | 4096256 Serfs_Up
Serfs_Up's picture

The Maestro of Debt.  FUCK GREENSPAN

Sun, 10/27/2013 - 20:22 | 4096257 TrustWho
TrustWho's picture

Please Rand Paul, filibuster Yellen's nomination and educate the American people, or at least other Senators, about the power the people have given to unelected citizens under the control of the Banks. Tell them how we have allowed the fox guard the henhouse!

Mon, 10/28/2013 - 10:05 | 4097360 GMadScientist
GMadScientist's picture

Can he "educate" without sounding like an easily marginalized crank?

May as well pray to Rick James to straighten out them hoes.

 

Sun, 10/27/2013 - 20:26 | 4096268 Hedgetard55
Hedgetard55's picture

Greedscam will reside in Jewish Sheol for all eternity, constantly wringing his hands and wondering why he did not foresee the bubbles he created (hint: he looked away for mammon).

Sun, 10/27/2013 - 20:27 | 4096271 tony wilson
tony wilson's picture

is this old rat faced banker jewish?

just askin

Sun, 10/27/2013 - 20:31 | 4096281 buzzsaw99
buzzsaw99's picture

asking if a former fed hed is a joo banker is like asking if the pope is catholic

Sun, 10/27/2013 - 20:53 | 4096342 Pure Evil
Pure Evil's picture

Or if a bear shiites in the woods.

Sun, 10/27/2013 - 20:30 | 4096278 stinkhammer
stinkhammer's picture

just add clown makeup

Sun, 10/27/2013 - 21:41 | 4096441 SubjectivObject
SubjectivObject's picture

Holloween approacheth.

The monsters are always out.

Sun, 10/27/2013 - 20:33 | 4096289 One And Only
One And Only's picture

Looks like Greenspan is dipping some long-cut in that pic. Probably cherry Skoal.

Sun, 10/27/2013 - 20:40 | 4096296 Tinky
Tinky's picture

I won't spoil it with any detail, but the chapter entitled "A Lesson in Empathy; Andrea Straps it On" is terrific.

Sun, 10/27/2013 - 20:38 | 4096301 TahoeBilly2012
TahoeBilly2012's picture

East German Bankers

Sun, 10/27/2013 - 20:39 | 4096306 Angus McHugepenis
Angus McHugepenis's picture

Greenspan's mouth looks like a sphincter. The rest of his head are the butt cheeks.

Sun, 10/27/2013 - 20:40 | 4096311 wisefool
wisefool's picture

"much to the chagrin of economists"

Vast numbers of peoples lives have been altered, on generational scales. Many people have lost everything, included marriages, children, homes, jobs, and some, even their lives. And not just the very public self immolations in Tunisia and D.C.

there are even people incarcerated as a direct result of this garbage. With the exception of Bernie Madoff, no one who created this scam is suffering any pain. Unless "chagrin" means "pain" to economists.

Sun, 10/27/2013 - 22:24 | 4096568 dojufitz
dojufitz's picture

Behold..... Mr Magoo.

Sun, 10/27/2013 - 23:03 | 4096662 Trampy
Trampy's picture

Karl Marx said that when it's all over the state will wither and die.  After many years of death and destruction.

The capitalist crisis Marx predicted is happening right before our eyes.

Ain't that just wonderful?

Mon, 10/28/2013 - 00:02 | 4096737 diogeneslaertius
diogeneslaertius's picture

Central bankers not omnipotent? not omniscient? HERETIC! SEIZE HIM IMMEDIATELY!
http://youtu.be/q4aPdZI4ovg

Mon, 10/28/2013 - 00:28 | 4096750 yogibear
yogibear's picture

Hopefully Greenspan get's egged on Halloween. He deserves worse than that.

 

 

Mon, 10/28/2013 - 00:46 | 4096768 mobydick
mobydick's picture

Now this is the one cunt I would love to hang up by his balls

Mon, 10/28/2013 - 02:18 | 4096829 itsallbunk
itsallbunk's picture

My first thought when Yelen was appointed was about the old corporate habit of putting a woman at the top of a sinking company.....

Mon, 10/28/2013 - 04:19 | 4096878 The Abstraction...
The Abstraction of Justice's picture

That is the quintessense of the thing that calls its ken Anglosaxon bankers. Somehow I think he will find it hard to prove his English roots.

Mon, 10/28/2013 - 07:50 | 4096964 kurt
kurt's picture

Who put the con in economics?

 

Who put the ram in the ramalama ding dong?

 

Why do fools fall in love?

 

Why is there a picture of an old dick on this page?

Mon, 10/28/2013 - 08:55 | 4097116 d edwards
d edwards's picture

Rememeber when he was called "The Maestro" (gag) after a sycophantic book of the same name?

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