Greenspasm part 2
When he KNEW there was "irrational exuberance" at around Dow 6000, he should have stuck with the truth and let natural law
take over. When you have boom periods, you must also have recessions. But when the markets began to drop on his
comments, Greenspasm obviously received pressure from the President and Congress. "Are you insane?", they asked.
"Everyone is used to the markets going up forever, and everyone wants to be rich and have a secure retirement!" So Greenspasm, in his moment of SELFISHNESS to keep his job over doing what was RIGHT, decided to simply be quiet about the valuation problems. To add insult to injury, he then began a series of blatant lies telling everyone that increased productivity was responsible for the vast market heights.
The 1990's resulted in a massive misallocation of resources with the ultra-rich internet kings and just about ALL public CEO's taking enormous salaries and benefit packages which they did NOT deserve. The massive IPO's and the massive amounts of money thrown at them were due to the policies, or lack thereof, from Greenspasm at the direction of the idiot/selfish government "servants" in charge. What this accomplished was allowing huge amounts of capital and labor being WASTED on undeserving ventures and UNDESERVED salaries and undeserved companies. When you have a huge misallocation of resources and labor, natural law says you MUST have an equal amount
of CORRECTION in the opposite direction. Did Greenspasm limit margin ability? No. Did he do just the opposite of what needed to be done by making credit easier and cheaper to obtain for everyone? Yes!
Greenspasm and the government have been compounding their errors over and over simply because they are comfortable living
like KINGS, and they don't want the party to ever end. They keep hoping that some MIRACLE will pop up and save them. Greenspasm KNOWS that natural law dictates otherwise, but I can only assume he is old and simply wants to live out his days in the lap of LUXURY. He KNOWS better, but has somehow turned off his conscience regarding the younger people who will have to endure the disaster he has helped breed.
By turning up the monetary spigot as he has done, he is only trying to FOOL everyone into THINKING they are doing okay, or
they are better off than previously. They have more DOLLARS, but the value of those dollars is in decline, and it will soon decline faster than he can print them. At some point, the mentally-challenged sheep will come face to face with the reality wolf. They will realize that they have been fed a bunch of lies and have been coerced into taking out loan after loan in the hopes, or the Greenspasm and government
PROMISE, that good times were just around the corner.
Shame on you Mr. Greenspasm for NOT being concerned more with the economic future of the country than for your last few years
on easy street. Shame on our "leaders" for the very same things! |
