Yes, Alan Greenspan is blogging.
What is easy Al saying?
"There was also a personal story to tell. I’d known every president from Richard Nixon to Reagan, Ford, Bill Clinton and George W. Bush. And what about all those other assorted characters from my childhood in New York, my years as a jazz musician, my complete career switch to economics – and my friendship with Ayn Rand? I wanted to make the leap from writing economic analysis to writing in the first person about what I’d experienced. And after years of talking “Fedspeak” in carefully calibrated congressional testimony – I could finally use my own voice!" . . .
My term as Federal Reserve Chairman ended at midnight, January 31, 2006. The following morning, I started to write. You would think after all those years at the Fed and my earlier decades as an economist that I would have learned about as much as I could. But halfway through the book I realized that the story was leading me in surprising directions. I needed to refocus much of what I had written in my original drafts."
I wonder who will be ghosting the blogposts in the future.
The only thing preventing me from declaring this form of written expression has officially jumped the shark is that it is an "Amazon blog." That means it is not a true blog, but more of a book promotional stunt. (The Age of Turbulence comes out September 18th).
If it were a real blog, he would have either confirmed or dispelled the rumors about him and Ayn Rand . . .
If it were a real blog, we would know know what type of a lay Ayn Rand was . . .
What chutzpah. What idiocy. If that man had any clue at all, he’d be living in a tiny village in Guinea under a fake name. Does he not realize that mobs will be coming for his blood if this situation keeps getting worse?
Do I really want to waste my time reading the writings of a man who says, but we know otherwise, that he couldn’t spot a bubble? Anyone who will BS you like that isn’t worth reading. He and his cabal are all LIARS. Everyone knows it, but the lame street media continue to play shill to the elitists.
Opening Bell: 9.4.07
Sponsored by Bloomberg.com Banks to Test Debt Market This Week (NYT) Here’s a critical bellwether for you. This is the week that banks are looking to sell $24 billion worth of bonds to finance the First Data buyout. That’s going…
Barry, hard for me to believe he is penning this… does not even “sound” like him!
SPECTRE:
He didn’t see the bubble, but he saw the foam. What we’re seeing is what happens when the foam bursts. Greenspan loves him some semantics.
Anon:
I had an econ. professor two years ago that said Greenspan wasn’t a topper at all(I’ll let you guess what that means as I am trying to keep it clean).
Barry, this link shows bank(s) exposure to LBO deals. Very interesting.
http://graphics8.nytimes.com/images/2007/09/03/business/20070904banks_graphic.jpg
That confirms it for me. It really is about his ego!
What a shame.
He is the type of guy who can’t go away. He is like the sports celeb who keeps ‘retiring’ and then showing up again
SPECTRE:
He didn’t see the bubble, but he saw the foam. What we’re seeing is what happens when the foam bursts. Greenspan loves him some semantics.
Posted by: Marcus Aurelius | Sep 4, 2007 9:14:58 AM
Marcus,
Mr. Bubbles and foamy go hand in hand. LOL! I don’t want to be the last one out of the tub because the foam looks to have some raw sewage involvement. Mr. Bubbles did come out and say it’s brown, but he can’t tell what it is until he puts it on toast for a sampling.
Ayn Rand often referred to Maestro Greenspan as the Undertaker. – I’m just saying
Sugar Ray Greenspan…..
Ciao
MS
“You never got me down, Ray!”
He was friends with Rand?
Well that explains a lot.
The Randians have much to answer for in this debacle of an economy….
What chutzpah. What idiocy. If that man had any clue at all, he’d be living in a tiny village in Guinea under a fake name. Does he not realize that mobs will be coming for his blood if this situation keeps getting worse?
Posted by: unirealist | Sep 4, 2007 7:15:12 AM
Don’t you mean when this situation keeps getting worse?
Greenspan hires ghost writer to give memoir ‘pace’
Dame Marjorie said, however, that the former US Federal Reserve Chairman is proving to be “a diligent author” who will definitely help his publisher to make a return on the $8.5 million (£4.5 million) that it spent to secure the rights to produce his memoir.
Dame Marjorie had to personally sign off on the advance — and inform the company’s board — because it was so large.
Mr Greenspan, who met Dame Marjorie for dinner after Penguin signed him up, has agreed to produce the first and last drafts of the eagerly awaited book. The former Fed chief is apparently “working on the text every day”.
Mr Greenspan has hired Peter Petre, a senior editor at Fortune magazine, to help to redraft and ghost-write his text. It is understood that Mr Greenspan held interviews for ghost writers to prove their credentials.
Pearson’s decision to pay for Mr Greenspan’s memoir earlier this year flew in the face of Penguin’s new strategy of concentrating on cheaper, first-time authors. However, Dame Marjorie, speaking about the fee for the first time, said that she expected the tome to be a long-term seller. “It will run and run, because economic students will buy it for years,” she said.
Mr Greenspan was Chairman of the Federal Reserve, the US central bank, from 1987 until 2006. He won praise for his handling of the 1987 economic crash, which he helped to staunch with the terse statement that “the Fed stands ready to provide all necessary liquidity”.
Pearson said that the book is due to appear in the autumn of next year.
“He won praise for his handling of the 1987 economic crash?”
More like, he was partly to blame. In “Adventure Capitalist,” Jim Rogers wrote a scathing review of Greenspan’s career…
Greenspan has a long, long history of failure. That is why he has a government job. He has never been very successful.
In 1974, he was head of the Council of Economic Advisors. The country was in the early days of inflation. Greenspan’s solution to inflation was to give out little WIN buttons, for Whip Inflation Now. And, of course, during his tenure, inflation went totally out of control. Whatever he tried failed miserably. He went back to work int he private sector, from which he lobbied heavily to get the job as chairman of the Federal Reserve.
Almost immediately after he got the job came the Panic of ’87, the stock market went down about 20 percent in one day. Percentage wise, it was the biggest stock market collapse ever. Greenspan and his mutterings were part of the reason for the collapse. The week before, Greenspan had gone on and on about how the U.S. balance of trade was getting much better and things were under control. Two days later, the balance -of-trade figures came out, and they were the worst in the history of the world.
Right away, I and a lot of investors-especially internationally- realized, “This guy is either a fool or a liar. He doesn’t have any idea what’s going on.” We now know that Greenspan is no liar. He has simply never understood the stock market. He has never understood the economy.