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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Sunny Jim who wrote (46466)	2/16/2009 12:11:58 PM
From: elmatador	Respond to of 218584

clueless Greenspan was? Greenspan was knighted! The honour, which was approved by the Queen, is to recognise Mr Greenspan's "contribution to global economic stability", the UK Treasury said. Alan Greenspan to be knighted Mr Greenspan can now use KBE after his name The UK is to award Alan Greenspan, chairman of the US Federal Reserve, an honorary knighthood. The honour, which was approved by the Queen, is to recognise Mr Greenspan's "contribution to global economic stability", the UK Treasury said. Mr Greenspan, who makes crucial decisions about raising or cutting US interest rates, will receive the award when he next visits the UK, possibly in the early autumn. "The award is in recognition of... the benefit that the UK has received from the wisdom and skill," a Treasury spokesman added. Cryptic messages Mr Greenspan, sometimes referred to as the most powerful man in the world because of his control over the US economy, is also famous for his ability to keep the markets and the politicians guessing. Wall Street listens when Mr Greenspan speaks He once famously said: "If I seem unduly clear to you, you must have misunderstood what I said." As chairman of the Fed, he is required to go before Congress at least twice a year to give his assessment of the US economic situation. In his most recent testimony, he told the Senate that the US economy was set to recover despite recent stock market volatility. "With profitable opportunities for malfeasance markedly diminished, far fewer questionable practices are likely to be initiated in the immediate future," he said. His accounts of the economy have traditionally been cryptic - and closely watched. A gift for figures Mr Greenspan, 76, was born the son of a stockbroker and showed a gift for figures at a early age. In the 1950s, he left academia to become a professional economist. During the 1970s he was President Gerald Ford's top economic adviser, and took up chairmanship of the Fed just before the stock market crash of 1987. His fourth four-year term as Fed chairman ends in 2004, when he is widely expected to retire. Because Mr Greenspan is not British, he will not be able to call himself Sir Alan, but he will be able to use the letters KBE after his name.

To: Sunny Jim who wrote (46466)	2/16/2009 12:21:36 PM
From: KyrosL	Read Replies (1) \| Respond to of 218584

Those scary liabilities disappear magically and are replaced by huge surpluses, if assumptions about taxes, social security benefits, and medicare benefits change in relatively minor ways. For example, if Social Security benefits are cut by, say, 20%, and Medicare is brought down to the medical costs of other advanced countries such as Europe or Japan, the problem disappears without even raising taxes. And if taxes are raised to European levels, we end up with huge surpluses.