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Greenspan #Timestamped - "Dow 16,000 Is Not A Bubble"
The maestro clarifies his 'experienced' perspective of spotting bubbles in the following quote from his interview with Bloomberg TV's Al Hunt:
“This does not have the characteristics, as far as I’m concerned, of a stock market bubble,”
Of course, as we noted here, some would beg to differ; but perhaps what would be useful is for the former Fed head to explain what 'characteristics' do constitute a bubble...
Nope, no bubble here...
And here's his explanation...
“The stock price generally goes up about 7 percent a year for the long term,” Greenspan said. “It didn’t go anywhere since October 2007 and the result of that is we’re just now breaching that. We have had no growth in stock prices for years.”
But as we explained here, there is a reason the Fed can't see the bubble (aside from not wanting to).
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Was he speaking clearly or mumbling? I can never be sure wtf he says
“This does not have the characteristics, as far as I’m concerned, of a stock market bubble, perhaps a little irrational exhuberance, but clearly not a bubble, whatever one of those things looks like... now where's my cream of wheat?”
Full quote.
Whatever happens, buy the next crash. USD aint far from over yet. I made the mistake of not playing the 08-now bubble.
Best fades of all time (in no particular order):
1) Henry Blodgett
2) Alan Greenspan
3) James Glassman
4) Tom Stolper
5) Abby Joseph Cohen
6) Lenny "Nails" Dykstra
7) Wu Tang Financial Advisors
If you like your irrational exuberance, you can keep your irrational exuberance
Nothing's going to stop it this time until they lose control, probably from a combination of hubris and stupidity, same as usual. So obvious from the outside, but from the inside I bet they think this is going just swimmingly. Aside from that pesky "nobody has a good job" thing. That doesn't fit the model, so it gets ignored as irrelevant.
DTx2
Just wait until it is proven that the NSA manipulates the stock market... to save democracy from turmoil
yah, it sure would be great to know how they front the HFTs. . .. that's pretty good.
He continued" " A Bubble is a term that I don't quite understand, because I've never really seen one."
WTF does he know???
ALAN GREENSPAN: And what I'm saying to you is, yes, I found a flaw. I don't know how significant or permanent it is, but I've been very distressed by that fact.
REP. HENRY WAXMAN: You found a flaw in the reality...
ALAN GREENSPAN: Flaw in the model that I perceived is the critical functioning structure that defines how the world works, so to speak.
REP. HENRY WAXMAN: In other words, you found that your view of the world, your ideology, was not right, it was not working?
ALAN GREENSPAN: That is -- precisely. No, that's precisely the reason I was shocked, because I had been going for 40 years or more with very considerable evidence that it was working exceptionally well.
but he's sooooo brilliant and unassailable, this can't be so!
unassholable?
<- Conman
<- Dunce
Alan Greenspan.
How do I vote for both!!!
“ I know you think you understand what you thought I said but I'm not sure you realize that what you heard is not what I meant”Alan Greenspan
If you understood me, clearly I mis-spoke.
How can. I vote for both?
Greenspan. An Idiot then. An Idiot now.
Oh he's not an idiot, he's a LIAR AND former FEDERAL RESERVE BANKER!!! Once a liar, always a liar.
What if he wanted to crash the system? How would one going about crashing fiat? http://www.321gold.com/fed/greenspan/1966.html
Dunceman.
if you think you understood what I was saying, you must be clearly wrong..
Bitcoin has crossed $1000 today before pull back - No Bubbles Here.
Bitcoin vs. Gold: The Future of Money - Peter Schiff Debates Stefan Molyneux
We have a great conversation about Bitcoin between Peter Schiff and Stefan Molyneux. You can find a lot of additional information on Bitcoin from Stefan's video. Everybody decides for themselves where is the Intrinsic Value and where is the Bubble. We are siding with China here - who is buying record amounts of Gold this year with Thailand, Turkey and other Asian countries. http://sufiy.blogspot.co.uk/2013/11/bitcoin-vs-gold-future-of-money-pete...
bit of a rubbish debate, so i'll give you the executive summary: "i think this", "no, i think this"; "at least we agree that fiat currency is doomed"
Stefan Molyneux offers some of the best coverage I have ever heard on Bitcoin.
I did not have sex with that woman,
she had sex with me.
Well, if you like your slut, why don't you fucking keep your little slut.
-H R Clinton
Well, there’s a man who doesn’t know his bubbles; he’s bubbledumb.
He only recognizes bubbles when he's farting in the bathtub.
will someone please put Greenspan out of OUR misery?
Why does Greenspan still breathe our air?
roughly translated (everything a fed head says is exactly opposite the truth). "that is one big ass bubble ben has blown".
Bubble confirmed.
If you read the whole thing he did, it was the usual Greenspeak. "This is not a bubble but there is soap and water around plus a lot of ot air blowing. This has been known to produce bubbles and not known to produce bubbles. When bubbles are produced, they happen. Otherwise the sun might come up tomorrow. Then again it might go down someplace. But it is shining somewhere because it is four o'clock someplace. Bubbles only happen when it is three o'clock someplace, but it is three o'clock someplace." The guy must go home and laugh his nuts off that people listen to him in the least.
the man's right!
as far as the european markets are concernced, i can say they are definitely not overvalued. they are slightly (germany) if not notable (ESX) undervalued. i suppose this to be true also for the american market...
by the way, why did zero hedge delete all my posts? did i speak anything out i should not? xD
Oh..another European 'protectionist and apologist'...is the you Simon Hobbs?
EUROPE IS ABSOLUTE CLUSTERFUCK----Play Draghi's game of "whatever it takes" and you make money---Banks and Hedge Funds decided to play!!
Spain and Italy equity up THOUSANDS of points in last 6 months????.......COMPLETE FUCKING BULLSHIT....soon the Banks and Hedgies will 'take their ball' and go home CRYING!!!
EUROPE IS AN ILLUSION......EUROPE IS DEAD.....STICK a fork in that 400 years of POMPOUS EUROPEAN INTELLECTUALISM!
hahaha very earthy and poetic but not very convincing.
Stick to square dancing.
lol
errrrrr, it's just that i did analyze the european markets (and not politics) and the american not yet. if 0hedge wouldn't have deleted my posts, you could verify my opinion about europe...
but for the analysis it simply doesn't matter. if things change, analysis will as well. you can scream for a further decade crash and end of the world. somewhen you will probably be right, but the rest of the time its more probable that i am.
notice, i analyze the stock market. not the economy nor politics...
Here's not a bubble anyway ->
"Central banks stand ready to lease gold in increasing quantities should the price rise."
http://www.federalreserve.gov/boarddocs/testimony/1998/19980724.htm
And the maestro added: "Gold is surely a bubble here."
He missed the housing bubble...need we say more?
Greenspan reminds me of the Mutts comic strip with Mooch the cat:
Panel 1: A crash occurs downstairs.
Panel 2: Mooch runs up the stairs as fast as he can go.
Panel 3: Mooch yells down the stairs, “What’s going on down there?”
Show this history
http://www.showrealhist.com/recDJIAtoRD.html
and get him (or anybody) to characterize.
Greenspunk uses a graph of the Matterhorn as his market bubble overlay. In his mind markets aren't in a bubble until they start fall back on themselves, as opposed to peaking and forming a downslope on the other side of the summit.
Fuck you Magoo! The gall of these people never ceases to amaze.
These people! These people!
Dat's raciss.
Call 'em dirty money grubbing Jew bankers or Tribe Members, please.
I just meant plutocrats / banksters / oligarchs, whatever you want to call them, from whatever tribe they hail. If some tribes are more represented than others, fair enough, and certainly there is a good deal of shame in the triple whammy of Jewish bubble blowing Fed heads, but really this is widespread with all creeds represented to one degree or another.
And in this time, the economy has grown how much? And how many jobs have been created (apart from low pay, part time, zero hours contract ones)?
What a dunderhead
This is tantamount to the Fed stating that there never is any misallocation of capital caused by the monetary interventions of a central bank. Ie, a whole shitload of economic history never happened.
when is a bubble not a bubble?
When a bottle of champagne says any thing you can make is pathetic; only i know what making bubbles is...and I say : that ain't no bubble worth talking about...
You be the Maaaaan ! Ben bubbles !
And Greenspan has stretched his ass out wide to say Greendwarf says you ain't Sauron; Ben !
If Greendwarf says so, who are we to say noooo!
Staff of Greendwarf and ring of Wankfein's Squid; we have the inverted fellowship!
so - i can keep my money in for another 5-6% by year end, or cash out and enjoy the holidays.
Of course not, because he says so!
We should go eat some real Turkey instead spending today and Thursday reading about what a human turkey was instructed to say on TV.
Why does any one even listen to this old worthless fuck?
He was lying back then, he's LYING NOW!
Its been scientifically proven over numerous time tested, and scientifically proven tests that this rubber faced, way over due for death shit hawk of the robber class, is a cunt.
A time reserved, impecable, money laundering, child molesting (just look at its face, candy anyone?), coffin dodging cunt.
This cunt will be burning when Hades gets extinguished.
Nation wrecking fuck stick.
Why do these fuckers live so long and rub each and every one our faces in it then? What happened to cancer in one of three of us, eh??
+1, very eloquently put. We can only hope they are living so long to allow them to finally reap the whirlwind while dangling from a lamp post. Seems to good to be true, but they sure are tempting fate.
Between the devil and the deep blue you have two continents and one Mountain :
Continent #1 is incontinent in geriatric blues and has a bank debt to sink the Titanic; its young on the permanent dole.
Continent #2 is incontinent in obesity hunger games and has a SHADOW banking debt to burn the Hindenberg, its young hooked on food stamps.
As for the Mountain of Middle kingdom it is so drowned in coal smog and Fuku fog, so inundated with dead fish of Yellow river and dead hogs of Yangstze sewer, that it can't tell an Oligarch from a Commie apparatchik; its walls now beseiged by empty towns full of shadow debts and shady bets feeding maserati driven municipal thugs.
We are in land where any vagrant match stick can light the tinderbox in the country that invented gunpowder and Genghis Khan.
A global trail of financial bonanza fireworks that would make a Mongol raid look like child's play; the small pox and syphillis exchange of east to west a polite civilized hand shake.
This is the stuff that would make the opening paragraph of a Tale of two Cities look like ginger ale compared to true brew.
Prost! Sante !
and this coming from a guy that ate ayn rand??!! tsk tsk
That said, the general public isn't running to get out of the market, either. However, CNBC ratings are at a 20 year low, which indicates a general lack of interest in financial TV at a time when the market is setting record after record high on a near daily basis.
Of course CNBC's ratings have dropped. All they show are reruns.
CNBC ratings dropped doesn't show a lack of interest. I'd say if you're really interested in financials: Don't even try to watch CNBC!
Who cares about the Dow..
Bigcoins™ is where it's at!
So we won't know it's a bubble until it pops, right Alan?
Wait, mid-December? Thought the target was Jan 17.
Well, if there's anyone that knows what a bubble looks like, it's Greenspan. He's seen plenty of them in his tenure.
Oh wait...
Somebody fuckin' SHOOT this ASSHOLE!! What more needs to be said??
Wow Alan, is that advice in your new book!!?? I should buy it so I have something to wipe my ass with when the bubble pops. Idiot.
If he was facing a blogger instead of the propacorp, then the follow up might have been...."then what characteristics do you look for in a bubble?"
Top signs that there's a stock bubble: Greenspan says there is no bubble.
"We have had no growth in stock prices for years"
seasonally adjusted, of course.
Alan "I found a flaw in the model" Greenspan needs to clean those coke bottle glasses of his again.
Would someone pass this guy some Zeiss lens cleaner and a scrub brush?