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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: carranza2 who wrote (70324)	9/7/2008 12:30:48 AM
From: Maurice Winn	1 Recommendation Read Replies (2) \| Respond to of 74559

C2, the fault of course is your own, not that of the wonderful Alan Green$pan who provided the world's preeminent currency for 20 years and it is still the world's preeminent currency. If you were not still defending the absurd system of voting to take OPM rather than me getting the votes to which I'm entitled by natural justice and cosmic reason, you would not now be hoist by your own petard, and blaming somebody who did an excellent job of negotiating their way around a seething morass of political mania and irrational exuberance. We the taxpayers would have voted for sensible policies. There wouldn't now be the big problems. The wrong people are doing the voting. <Your 'brilliant' Greenspan is largely responsible for this because of his easy money policies at a time when easy money was simply not required. He would be imprisoned or worse in more just societies, those that impose real responsibility for such egregious and near-criminal mistakes in judgment. History will judge him very harshly. I would be ashamed to show my face in public if I were him. He would have committed sepukku long ago if he were an honorable Japanese gentleman.> Easy money was indeed an excellent idea when Uncle Al KBE sent rates to all-time lows, because it rescued the $ from the fall-out from the Biotelecosmictechdot.com implosion. You can lead a horse to water but you can't make it think; so borrowers went nuts borrowing and revaluing their houses higher though there was no reason to think the houses were worth more. You can read the Zombie stream right here in SI. Surely that's sufficient warning. But no, for 4 more years, people went right on borrowing like crazy, full of irrational exuberance. Since he did everything right, near enough, it seems odd that you think he should claim to be responsible for the irrational exuberance he warned about so long ago. Now, people are wanting to use him as a scapegoat for their own "no-brainer" decisions as though their decisions had nothing to do with them. Which means they will do more of the same later since they think it wasn't them who made the mistake which led to their demise. Hooray for Uncle Al KBE. Stand by to fleece the suckers again [those who don't realize it was their own foolish "thinking" which got them into so much trouble]. People who don't learn, are doomed to repeat their mistakes. Mqurice