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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: MulhollandDrive who wrote (265668)8/1/2010 11:06:35 PM
From: Skeeter Bug of 306849
 
>>but he was responsible for MONETARY policy...congress/executive is responsible for FISCAL policy...his loose monetary policy encouraged loose fiscal policy, despite his warnings<<

anytime greenspan wanted to, he could've limited the amount of debt taken on by the government.

in fact, he was LEGALLY OBLIGATED to do just that.

greenspan broke the law, regardless of the disinformation that comes out of his flapping flips (yes, truth can be used for disinfo, too!).

Federal Reserve Act
Section 2a. Monetary Policy Objectives
The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall maintain long run growth of the monetary and credit aggregates commensurate with the economy's long run potential to increase production, so as to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates.

federalreserve.gov

reference 2nd chart here - i know you've seen it many time before, but it puts the lie to greenspan trying to provide cover and disinformation in order to prevent him from losing his head when this bubble really unwinds.

believe me, he's worried about just that. he *knows* a collapse is on the way. an epic collapse.

market-ticker.org
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