The Financial Crisis Inquiry Commission is releasing its report Thursday.The New York Times has a preview of the report, which shows that the Commission will slam the right people for causing the financial crisis.Barry Ritholtz gives a good summary of…
Posts Tagged ‘Alan Greenspan’
Extreme Inequality Helped Cause Both the Great Depression and the Current Economic Crisis
December 17th, 2010 |
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It is clear that when banks become too big, it harms the economy. Economist Steve Keen says that “a sustainable level of bank profits appears to be about 1% of GDP”, and higher bank profits lead to a Ponzi economy and a depression.But most mainstre…
Department of Justice “Crackdown” On Wall Street Is Just a P.R. Stunt Targeting Small-Time Crooks
December 8th, 2010 |
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Alan Greenspan, William Black, James Galbraith, Joseph Stiglitz, George Akerlof, Chris Whalen and many other economists and financial experts all say that the economy cannot truly recover unless those who committed fraud are prosecuted.So we should be…
Even Greenspan Admits that Moral Hazard and Fraud are the Main Problems
November 6th, 2010 |
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Even Alan Greenspan is confirming what William Black, James Galbraith, Joseph Stiglitz, George Akerlof and many other economists and financial experts have been saying for a long time: the economy cannot recover if fraud is not prosecuted and if the…
The Fraud Started At the Very Top: With Government Leaders
November 2nd, 2010 |
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The government’s entire strategy now – as during the S&L crisis – is to cover up how bad things are.But it is not only a matter of covering up fraud that has already happened. The government also created an environment which greatly encouraged fr…
War: A Desire for More Cows
October 30th, 2010 |
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Sometimes hearing something said in a foreign language can give some new perspective.For example, the word for “war” in the ancient Sanskrit language (dating to 1200 BC) literally means:A desire for more cows.Simple. Your neighbor has more cows than yo…
Greenspan: “Fiat Money has No Place to Go But Gold … All Currencies are Moving Up or Down Together … Gold is the Canary In the Coal Mine”
September 23rd, 2010 |
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Alan Greenspan told the Council of Foreign Relations last week:Fiat money has no place to go but gold.Greenspan also said that supply and demand explanations treating gold like other commodities “simply don’t pan out.”Greenspan also spoke of how, …
Dick Cheney’s Oily Dream
September 5th, 2010 |
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Former British Prime Minister Tony Blair is currently saying that Dick Cheney’s vision of policy towards the Middle East after 9/11 was to re-draw the map:Vice-President Dick Cheney’s vision of completely redrawing the map of the Middle East following…
Government Policy Caused America’s Unemployment Crisis
September 3rd, 2010 |
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The unemployment rate has risen again for the the first time in 4 months. I predicted a growing, long-term unemployment problem last year.Indeed, even after the government plays with the numbers to make them look better (using inaccurate birth-death …
No Wonder the Outlook for the Economy is “Unusually Uncertain” … the Fed is Killing It
July 21st, 2010 |
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Fed Chairman Ben Bernanke testified today that the outlook for the economy is “unusually uncertain”.That’s not surprising.Nothing has changed since I made the following points last December.High-Level Fed Officials Slam BernankeFed Vice Chairman Donal…
Is It True that Alternative Energy Is Too Expensive?
May 24th, 2010 |
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Many people assume that alternative energy is simply too expensive, and not competitive with oil and other conventional means of energy.While some alternative writers allege that the big oil companies have artificially increased alternative energy pric…
Now’s The Time To Switch to Alternative Energy
May 21st, 2010 |
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As Robert Redford writes this week:Thursday, May 20, 2010, marks one month since BP’s oil rig exploded in the Gulf Coast ….This is the clearest picture we could have of our failed national energy policy — which extends over many decades and a…
The Fed Must Be Audited: The Fraudulent Practices of the Federal Reserve
May 4th, 2010 |
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In March 2004, when Alan Greenspan was Fed chairman, he suppressed the opinions of those Fed officials who knew that there was a housing bubble.Congressman Alan Grayson points out that – because the Fed unilaterally decided to hand out half a trillion …
If We Broke Up Standard Oil, We Can Break Up the Giant Banks
May 1st, 2010 |
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If we broke up standard oil, we can break up the giant banks.Says who?Senator Ted Kaufman (interviewed recently by The American Prospect’s Tim Fernholz): You and Senator Sherrod Brown have proposed an amendment that would cap the size of the largest ba…
Even Clinton Slams Clinton Retreads: Summers and Rubin Must Go
April 18th, 2010 |
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Larry Summers and Robert Rubin served as Secretaries of the Treasury under Bill Clinton (Rubin between January 11, 1995 – July 2, 1999, and Summers between July 2, 1999 – January 20, 2001).Both conservatives and liberals alike have called Summers a…
Weekend Comment Dec 10: Switch from bonds to equity, says Nomura’s Darby
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