SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: mishedlo who wrote (7840)2/12/2004 12:26:46 PM
From: russwinter  Read Replies (3) of 110194
 
What can I say that I haven't already? It's interesting that I heard very little asked about monetary policy, weak currency, and inflation. I thought that was Greenspan's job, so pardon my "ignorance". The Senate hearing might have passed for a rather blase, boring college lecture on general economics, but that's about it. Of course he went off on all his "dog ate the homework" nonsense, American education, and I forget what else. Sen. Byh posed a good question about overdependence on "foreign debt", in fact mentioned the CB buying. Greenspan totally ignored the question and went off about how great a place America is to put money, blah, blah, blah. He skipped over the main point of the question: Asian central banks are buying 40-50% of the twin deficits in a false market.

Although I find nothing profound (my overused Wizard of Oz label) about what Greenspan says, it is astonishing how the market is so fixated on every little word he utters. For instance today the market trades off, because he laid off his "EZ talk". It's as if he tries to set the level of market craziness. Instead of 105 degree raging craziness, he turns do the theromstat to 103. The level of moral hazard he has engendered is beyond comprehension.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News