Greenspan is 'Very Concerned' over fall in the markets.

[Mezzanine]

Former Federal Reserve chairman Alan Greenspan has said that he would be "very concerned" over a continued fall in US stock prices because equity markets have a profound effect on the wider economy.

US stock markets enjoyed a sharp rally for much of last year have now fallen for four straight weeks - their longest drop since July. Mr Greenspan described the falls as 'more than a warning sign."

http://www.telegraph.co.uk/finance/economics/7186706/Ex-Fed-chairman-Alan-Greenspan-says-hes-very-concerned-over-fall-in-stock-markets.html

[Hardondee]

Rising equities didn't save many of my friend's jobs last year.  How would falling equities hurt?  Would it make them lose their jobs even worse?  Equities can suck a big one.

[cozdiver]

If I were part of the PPT I would be worried too after pumping up the market
1000-1500 points just to see it take a dive. 

[roccman]

"because equity markets have a profound effect on the wider economy. "

Mr. Magoooooo states the obvious game played over the past year.

Tank the market to get tax dollars

Raise the market to give the illusion of its " profound effect on the wider economy".

Rinse and repeat.

[metaforge]

He was on Meet The Press on Sunday, and also indicated he's very concerned about housing prices continuing to fall and about the deficit.  (See other thread).

Sounds in general like he's a very concerned fellow.  He should be, considering it was his cheap money policies that allowed the big bubbles to inflate.  Tinge of conscience there, Magoo?   

[gin]

boogitty boogitty boogitty.. so the markets will be up up up today..

[boiler_92]

What the fuck does that asshole know about anything? 

He's the guy who went before congress and admitted that the beliefs that formed the backbone of his understanding of economics were incorrect. 

He's concerned about the market probably because he's losing money.

Asshole!

[OutOfStep351]

Have you guys ever noticed that Alan Greenspan and Leonard Nimoy have really similar voices? Wierd...

Fuck him, though, for sure. Fuck Objectivism, period.

[fuzzywuzzy]

Objecticvism = platitudes elaborately spouted by rand that has led us to where we are.

 
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness.
John Kenneth Galbraith

[Megadoom]

"because equity markets have a profound effect on the wider economy. "

Mr. Magoooooo states the obvious game played over the past year.

Tank the market to get tax dollars

Raise the market to give the illusion of its " profound effect on the wider economy".

Rinse and repeat.

What you describe is not unlike a pendulum, but a pendulum is not perpetual. It will eventually come to rest. Economic entropy is taking hold, little by little, crash by crash, and one day soon it will cease without the energy.

[Jacob.Creutzfeldt]

Of course he's concerned. We're supposed to be in a recovery with the stock market going up, UP, UP!

[illingsk]

Former Federal Reserve chairman Alan Greenspan has said that he would be "very concerned" over a continued fall in US stock prices because equity markets have a profound effect on the wider economy.

US stock markets enjoyed a sharp rally for much of last year have now fallen for four straight weeks - their longest drop since July. Mr Greenspan described the falls as 'more than a warning sign."

http://www.telegraph.co.uk/finance/economics/7186706/Ex-Fed-chairman-Alan-Greenspan-says-hes-very-concerned-over-fall-in-stock-markets.html

Wow! Is he beginning to become aware that an unlimited production/consumption business model might not work in a finite world? What a revalation!

As for his belief that 'equity markets have a profound effect on the wider economy', he seems to have it backwards. Would someone please ask him just how profound an effect the equity markets would have on the wider economy if that wider economy were had to run on empty reserves of resources?

[bithead1]

I wonder what he would have said if he was still the Fed Chair....

"Oh, this is expected and the economy is doing great....blah blah blabby blah blah..."

Such an asshat coming out now acting like he is concerned...

[jmthomas]

This doesn't surprise me.  It either this old fool or that old fool Warren Buffet (the supposed "Oracle of Omaha") on TV or in the MSM print media
shooting their mouths off every so often trying to pass on sagely advice or commentary.

I wish these old bastards would just up and die off. The Boomers can just go off into a corner and whine for all I care.  They have so screwed this country and my generation.  They won't retire from jobs, so that keeps people my age from advancing in the work place. 

Then they tell us were "not ready" to lead?  Get the hell out of our way you old a#*holes.  You have screwed this country royally.

We can get this game of musical chairs over with and try to rebuild some kind of life for my sons and grandsons if they will just quit and go retire somewhere, say Antarctica for starters. 

Sorry for the rant, I am just fed up with this BS from this supposed "Entitled" generation.

[OutOfStep351]

Milton Friedman and the Chicago School definitely deserve honors, as well.