Backlighting Posted March 2, 2014 Share Posted March 2, 2014 Did he just "blank-out ?http://reason.com/archives/2014/02/28/greenspans-blindness Link to comment Share on other sites More sharing options...
BaalChatzaf Posted March 2, 2014 Share Posted March 2, 2014 It was really both. The government screwed up the negative feedback that the economic indicators provided. It was like tying down the safety valve of a steam boiler or fixing the gauge not to register the real pressure. It was also a lack of skepticism on the part of investors and market players. They really did want The Big Rock Candy Mountain and The Money Tree to exist. When you have bad readings combined with irrational expectation then surely ruination and upset will follow.Remember the chief rule of the market economy: Let the Buyer Beware!Ba'al Chatzaf Link to comment Share on other sites More sharing options...
Backlighting Posted March 3, 2014 Author Share Posted March 3, 2014 Maybe Alan was asleep when AR read the original manuscript of AS to the collective, of which he was a part of.Or, perhaps he just paid lip service to AR throughout the years regarding his understanding and implementation of her philosophy, particularly her views on capitalism. He must have known the gov. infusion of $ into the banks would contradict his alleged (?) advocacy of the free market.Another possibility, as I posted a while back: He traded his principles for power. Link to comment Share on other sites More sharing options...
Selene Posted March 3, 2014 Share Posted March 3, 2014 He traded his principles for power.An economic and financial Robert Stadler... Link to comment Share on other sites More sharing options...
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