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Greenspan Dashes Recovery Hopes: "Housing Stagnation Is Here To Stay"
Ten years ago this week, Alan Greenspan made his infamous comment about signs of 'froth' in the housing market. A decade later, CNNMoney's Cristina Alesci sat down with the Former Federal Reserve Chairman and got his perspective on real estate. It's stuck in a rut, or as he puts it, "we haven't come out of the bottom [of the housing collapse], we are in a secular stagnation."
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Fuck you Greenspan!
thanks for the analysis, Greeny. one could argue our present situation is the culmination of your policies, way back when.
did you think we forgot?
I’ve never seen a life that is as much of a contradiction as Alan Greenspans.
there's no better way to say it
Greenspan already knows what Hell is going to be, he is married to NBC News reporter/dimwit Andrea Mitchell, a person who would win any low IQ Olympics among members of the press. Ugh, that nasal voice of hers. Greenspan got to where he is by getting a corrupt Congress to pass taxation on Social Security and, indirectly, Unemployment Insurance benefits. Right, tax the middle class and protect the hedge fund looters and the Congressional inside traders.
I think you meant to say NBC propaganda mouthpiece/dimwit Andrea Mitchell
Hahaha,
No kidding...had a dream about a decade ago, Greenfuck was on my front lawn, drunk as a skunk. I asked him to depart...he just got louder. A fight ensued and I beat the living snot out of the old fuck.
Where are those re-occuring dreams ?
Isn't that old wrinkly dude dead yet? We now have to hear the blow by blow from him in addition to his evil progeny bernank? Who the fuck is still listening to these aholes? I imagine the currently investing public sheep. Can't wait for old yellen to get put out to pasture to hear the truth from her too.
Inflation does not work if there is no value adding activity.
The problem is that the growth paradigm is a lie ... at least as it is portrayed by Wall Street. Growth requires value adding work, not lawyers, bankers, government and insurance.
we paid 70,000 for our house in 1999' it's worth about 60,000 MAYBE Today... i wish the idiots would just SHUT THE FUCK UP!!!!
Go to the C&D landfill and pick out some lumber and siding. Use that to build a large addition to your house.
BOOM! It's worth $65000 now bitchez!
Funny, where I live, prices surpassed 2008 over a year ago.
You must live on Big Rock Candy Mountain
The DJIA surpassed 2008-2009 a long time ago, I guess you'se in full recovery.
For the rest of us dat ole recovery will be coming round the mountain when she comes.
2008 AFTER the crash?
Man, Ayn Rand could suck the chrome off a trailer hitch. Wait, don't print that.
Gotta love how these ex-Fed officials have started telling the truth in order to give themselves some cover before TSHTF...
Would this fossil just quietly turn to dust already?
AGREED! The only time I comment or feel the need to is when Greenspan or Jack Welch shows up in the newsfeed. They should be feeding the worms!
Good lord. Jack screeming meme Welch was the worst on, the Blowhorn.
Joe Korntooth would always introduce him just as the European segment signed off to pump and dump the N.Y. open. Drooling blabber mouth from GE.
Well, he should know.
He's been incubating it since 1987.
This guy is a master of telling people what they already know.
In some areas, where the money is, real estate is sky high. People who live in these bubble areas have no idea what the American housing market is like. And even in the places where values are much lower, regular people can no longer afford to buy, even with low interest rates and down payments. Greenspan sold out to his masters and deserves the criticism for his actions, but he is right about the housing market. He should have done something to help America while he had the chance. Now he just looks like a bumbling old fool.
Criminally bumbling.
dat ugly white boy need a rat what's to chew off hid ugly ass face...
Greenspan is obviously unaware of current house prices. Senile?
A member of Tribe just telling it like it is....fuck you scumbag.
I still think Greenspan opened the money gates to start a real estate and stockmarket bubble that would distract Americans from challenging George W. Bush's invasion of the Middle East.
Hmmm, W did order Amerikans to go shopping against the terrorists in response to 911. Before sending out those "stimulous" checks to the populace. Marble countertops covered the land. A million innocent Iraquis died.
But were they in a lover's tryst?
Ohh, man, that image sucked.
:-) Hee Hee. Now I have to take deep breaths, and say, "Relax. Relax."
Alien GreenSpam and "stagnation":
His depends, which he changes every month, suffer from "stagnation". But, every time he farts though, his depends suffer from "stagflation". He smells like a swamp full of swamp gas.
He is the poster boy for moral and ethical "stagnation".
He is the poster boy for policy "stagnation". Same old broken policies - grow one massive asset bubble after another, avoid solutions like the plague. Wear the 'blue dress' for the banker elites.
When he runs out of depends, he grabs for anything he can to stop the leakage - then he becomes the 'ragstation'.
Greenspan sold out americans, so fuck you
greedscam
greedscum
Both of the above Buzz. +2
I think this might be a contrary call for higher inflation in housing. Could be a big inflationary pulse headed our way as de-dollarization ramps up.
This motherfucker here... Trying to look all prescient and shit. Everyone still hates you you wrinkled old cunt. So glad he's alive to see his reputation trashed.
How did he escape. I thought they locked him up.
While we are getting the opinions of criminals, lets call up Madoff, and Corzine, and see what they think as well.
Liberty is a demand. Tyranny is submission..
WRONG
House prices will increase until 10 percent of China has moved into them leaving Americans to rent.
I will dance when he assumes room temperature the same way I did when Ted Kennedy did.
Greedscum is a child with dementia. Sometimes I think he believes his own bullshit given that that is all he has been dealing in his entire career. He was pretty arrogant back in the day, and still is in light of his obvious education. Don't forget that a Jew was the first to capitalize on human denial as a primary psychological defense mechanism. Greedscum comes from the same tribe, and as such, adheres to the same tribal rhetoric and dogma. Central Banksters are like Freud's 'Wednesday Society' of Psychoanalysts in Vienna during the enlightenment era of historiography.
Freud had to leave Vienna because of the Brown Shirts that were organizing to burn his books when ordered to by the Nazis. His sister fell victim to the Concentration camps while Freud fled to safe haven in England. What will Greenspan do when the entire World economy implodes due to his own incompetence, and where will Greenspan flee to? Frankly, when this blows apart Greenspan will leave North America to a safe BUG out zone for the 1%.
What, seriously, is a "secular stagnation"? I always thought "secular" meant "non-religious" or "non-spiritual".
My tracking software indicates that 14 companies are presently tracking my movements on ZeroHedge whereas when I'm on Reddit I only have a few companies tracking my movements. Clearly, from my tracking software perspective Z/H has an inordinate amount of companies tracking this website activity IMHO.
ZH readers and posters are just the most fascinating demographic there is, clearly.
I still think he is the worst of all of them. Really don't miss watching that creepy gollum blathering complete bullshit opaque jibberish while he destroyed our country and walked away Clintonesque... smelling like a rose to the ignorant. I don't know if demons exist but if they do there is probably be one in that corpse.
This m-fking president is looking for every way before an election to pump housing again! Like FORGIVE STUDENT DEBT and 3% DOWNPAYMENTS- HUD/FHA arsewholes.
Paul Krugman noted that Greenspan needed to create a housing bubble, to get the economy out of the .com bust.
The secular stagnation in housing is the result of Greenspan's actions.