Silicon Investor (SI) -- The First Internet Community

STOCKTALK

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 : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: jvbigo who wrote (72357)	12/15/2007 2:17:38 PM
From: Steve Lokness	Read Replies (3) \| Respond to of 116555

jvbigo; From Greenspans interview; short of raising interest rates dramatically, "the evidence is very clear that there was nothing that any central bank could have done, or tried to do." He said the housing meltdown was "inevitable in one sense: When you get a type of euphoria building in an economy, you're dealing with the innate aspects of human nature. And I've watched bubbles inflate and deflate for 60 years. I'm pretty much convinced that we will never be able, by monetary or fiscal policy or government actions, short of disabling the economy, (to undermine) those bubbles. But Greenspan was at the front of the parade marching with his "buy housing now" banner flying high and encouraging people to take out adjustable rate mortgages so they could participate in the bubble. Geesh, now he says he had no part in the bubble. His role in this is clear. steve