8 replies to this topic

[ed rader]

i was listening to the greenspan interview tonight and he sounded like a rat fleeing a sinking ship. he denounced the bush tax cuts which he said he did not endorse. he denounced his old friend dick cheney for saying that deficits don't matter and his part in turning a record surplus into record deficits. greenspan says he did not see the subprime blow-up coming and denied that he went along with the bush cut and spend policies to suck up to the white house. what a lying wimp the maestro is showing himself to be ! what i do agree with is greenspan said that house prices are just starting to flatten and "prices are going to fall further". and believe me he emphasized further. irrational exuberance all over again, wot ? ed rader

[SemiBizz]

Greenspan is truly the Howard Kosell of Economists... You may remember after making his fortune off boxing, Kosell denounced the sport after he retired...

[HoseB]

i was listening to the greenspan interview tonight ... what a lying wimp the maestro is showing himself to be !

You're just NOW figuring that out? Better late then never, I guess..

[atlasshrugged]

Greenspan is truly the Howard Kosell of Economists... You may remember after making his fortune off boxing, Kosell denounced the sport after he retired...

LOL! that was funny! Now if greenspan could just call Bush "the little monkey" we could probably see the last of him as well!!!

[ogm]

So.. if we will get inflation, as greenspan is worried, why wouldn't the housing prices go up ? Are housing prices immune to inflation ?

[JAP]

Greenie makes me laugh... he caused the housing bubble because he kept lowering the interest rate.

[ed rader]

So.. if we will get inflation, as greenspan is worried, why wouldn't the housing prices go up ?

Are housing prices immune to inflation ?

i could be wrong but i think greenspan thinks inflation will be a problem down the road....probably after homes lose 30% of their current value and he's pushing up tulips !

ed rader

[bullshort]

I never did have much respect for Greenspan, but sheesh, can anyone who defends this guy explain how you can come away from this interview with something positive to say about him? "Independent" Fed, he claims, then finds it appropriate to go consult with the President on a regular basis? And the guy literally laughing, no bragging, about his obfuscation and double talk. Pretty sad commentary IMO, and some pretty damaging stuff about what other Fed governors claim about Greenspan's knowledge of the subprime issues (to which he claims he "didn't get it"). Little wonder that Bernanke talks about the need for transparency. And of course, in just about the same breath, the Fed decides there's no need to put out M3 data. I don't know about Greenspan's book (although with an $8 million advance I'd bet odds that the 60 Minutes interview was right there in the contract), but this 60 Minutes piece is some revealing stuff IMO. My sources say that Paul Volker (Greenspan's predecessor) has expressed some serious concern with where the Fed is taking this country, and I'll leave it at that.

[pdx5]

So.. if we will get inflation, as greenspan is worried, why wouldn't the housing prices go up ?

Are housing prices immune to inflation ?

Price of any commodity (houses is a commodity) depends on supply & demand.
Right now housing supply exceeds demand by a large amount.

Supply/demand is the main reason manufactured goods inflation is low inspite of
th central banks flooding the system with cash. There is plenty supply of manufactured goods
from China, Korea, Japan, and others to absorb all the dollars the banks can print.

But some commodities such as oil have increasing demand and plateaued supply, hence
the price inflation.