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Bear Stearns Fails - Bailed out by FED Reserve for 28 days
- Thread starter robertsondavies
- Start date
rapunzel
Beach Fanatic
Ooops, sorry! I wasn't trying to make a political point here, although I see how it could come off that way.
I'm really trying to understand what is happening. I get healthcare economics, because they have no real relationship to broader economic free markets. Healthcare economics is politics. Free markets would only seem to work if the regulation to safety net ratio is roughly equivalent, right? All reward, no risk would create an endless succession of bubbles. Greenspan's article just seemed so blatantly "I'll have the parts of Miltonian models and regulated models that most benefit the wealthy, please," that I assume I am missing something.
What I was asking is -- does everyone concur with Greenspan? and if so, what am I missing? is there some economic theory I need to read up on because my reading of this is so pitifully naive? Or is Greenspan a megalomaniac who is trying to preserve his legacy despite clear signs that he decided to quit playing musical bubbles when he decided he wouldn't have enough chairs when the music stopped playing this time?
sandybanks
Beach Fanatic
Greenspan is full of crap. Just a week or so ago he was in the Mideast telling them to dump the dollar.
You may think I am a crackpot but I think this is exactly what they (the Fed) want to happen.
http://english.aljazeera.net/NR/exeres/FC515689-75CC-4121-BD37-2A84E5BF0C60.htm
http://www.funnymoneyreport.com/
You may think I am a crackpot but I think this is exactly what they (the Fed) want to happen.
http://english.aljazeera.net/NR/exeres/FC515689-75CC-4121-BD37-2A84E5BF0C60.htm
http://www.funnymoneyreport.com/
Last edited:
seaside2
Beach Fanatic
Was not dissing you punzy. It IS politrics. It is as old as the "system" to manipulate things to the good of somebody.
The whole mess is confusing. So many things happen behind the scenes, the the Greenspans get up and say all of this horrific BS and expect us to think it is truth. It ain't!!
Fortunately, our system of checks and balances sort of works, but it all goes to show that individual greed (political, financial, power, political, ego, etc) can be fed.
The whole mess is confusing. So many things happen behind the scenes, the the Greenspans get up and say all of this horrific BS and expect us to think it is truth. It ain't!!
Fortunately, our system of checks and balances sort of works, but it all goes to show that individual greed (political, financial, power, political, ego, etc) can be fed.
Capricious
Beach Fanatic
"We're in a crash''
March 17 (Bloomberg) -- Joseph Granville and Robert Stovall, octogenarians who've seen every financial market downturn since the 1950s, say the current one may be the worst and is far from over.
Granville, born in 1923, remembers his banker father's bad moods following the stock-market crash of 1929. The younger Granville began his career at defunct brokerage E.F. Hutton in 1957, quit in 1963 to begin publishing a weekly newsletter and wrote nine books on investing.
``We're in a crash,'' Granville, 84, said in a telephone interview from Kansas City, Missouri, where he lives and works. ``This is the worst I've seen, and I've studied every bit of history all my life.''
http://www.bloomberg.com/apps/news?pid=20601087&sid=aMVeMY2hvYUI&refer=home
March 17 (Bloomberg) -- Joseph Granville and Robert Stovall, octogenarians who've seen every financial market downturn since the 1950s, say the current one may be the worst and is far from over.
Granville, born in 1923, remembers his banker father's bad moods following the stock-market crash of 1929. The younger Granville began his career at defunct brokerage E.F. Hutton in 1957, quit in 1963 to begin publishing a weekly newsletter and wrote nine books on investing.
``We're in a crash,'' Granville, 84, said in a telephone interview from Kansas City, Missouri, where he lives and works. ``This is the worst I've seen, and I've studied every bit of history all my life.''
http://www.bloomberg.com/apps/news?pid=20601087&sid=aMVeMY2hvYUI&refer=home
NotDeadYet
Beach Fanatic
If you are, then I am too, because I agree with your analysis of "free markets." But you may find out that many people would just rather not have the obvious pointed out. Denial is a river, isn't that what they say?
Thanks for your post.
Bob
SoWal Insider
TooFarTampa
SoWal Insider
Re: "We're in a crash''
From Wikipedia:
Joseph E. Granville (born August 20, 1923), often called Joe Granville, is a financial writer [1] and investment speaker. He popularized [2] the use of "on balance volume", a technique of technical analysis that attempts to predict future prices of stocks, commodities, and other financial assets traded on financial markets for which historical price and volume information is available.
Granville is probably best known for his bearish market calls during the 1970s, 1980s, and 1990s, when he claimed that the stock market was headed for imminent collapse. His overall track record, according to the Hulbert Financial Digest, is very poor.
The Granville Market Letter "is at the bottom of the Hulbert Financial Digest's rankings for performance over the past 25 years - having produced average losses of more than 20 percent per year on an annualized basis." [3]
Nevertheless Granville was known as a great showman [4] who would emerge from a coffin at an investment conference, or appear to walk across water (at a swimming pool) when meeting clients. According to Robert Shiller in his book Irrational Exuberance[5]
His investment seminars were bizarre extravaganzas, sometimes featuring a trained chimpanzee would could play Granville's theme song "The Bagholder's Blues," on piano. He once showed up at an investment seminar dressed as Moses, wearing a crown and carrying tablets. Granville made extravagant claims about his forecasting ability. He said he could predict earthquakes and once claimed to have predicted six of the past seven major world quakes. He was quoted by TIME Magazine as saying "I don't think that I will ever make a serious mistake in the stock market for the rest of my life," and he predicted that he would win the Nobel Prize in economics.
Yet, Shiller states that Granville's market calls were said by major media sources to have caused large moves in the Dow Jones Industrial Average on April 22, 1980 (+4.05%) and on January 6, 1981.
From Wikipedia:
Joseph E. Granville (born August 20, 1923), often called Joe Granville, is a financial writer [1] and investment speaker. He popularized [2] the use of "on balance volume", a technique of technical analysis that attempts to predict future prices of stocks, commodities, and other financial assets traded on financial markets for which historical price and volume information is available.
Granville is probably best known for his bearish market calls during the 1970s, 1980s, and 1990s, when he claimed that the stock market was headed for imminent collapse. His overall track record, according to the Hulbert Financial Digest, is very poor.
The Granville Market Letter "is at the bottom of the Hulbert Financial Digest's rankings for performance over the past 25 years - having produced average losses of more than 20 percent per year on an annualized basis." [3]
Nevertheless Granville was known as a great showman [4] who would emerge from a coffin at an investment conference, or appear to walk across water (at a swimming pool) when meeting clients. According to Robert Shiller in his book Irrational Exuberance[5]
His investment seminars were bizarre extravaganzas, sometimes featuring a trained chimpanzee would could play Granville's theme song "The Bagholder's Blues," on piano. He once showed up at an investment seminar dressed as Moses, wearing a crown and carrying tablets. Granville made extravagant claims about his forecasting ability. He said he could predict earthquakes and once claimed to have predicted six of the past seven major world quakes. He was quoted by TIME Magazine as saying "I don't think that I will ever make a serious mistake in the stock market for the rest of my life," and he predicted that he would win the Nobel Prize in economics.
Yet, Shiller states that Granville's market calls were said by major media sources to have caused large moves in the Dow Jones Industrial Average on April 22, 1980 (+4.05%) and on January 6, 1981.