Greenspan's Bubbles: The Age of Ignorance at the Federal Reserve @ richardeward.com

Greenspan's Bubbles: The Age of Ignorance at the Federal Reserve
by William Fleckenstein, Fred Sheehan
from McGraw-Hill

Customer Reviews:

• Avg. Customer Rating: 4.0 / 5.0

• Devastating indictment of Alan Greenspan's ineptitude
  This is a truly invaluable book. Fleckenstein shows,beyond any doubt, that Alan Greenspan has been a disaster for the country and the economy. Even before becoming Fed chairman, Greenspan had demonstrated his incompetence (Read the beginning where Greenspan's predictions as one of President Ford's advisers would drastically miss the mark). Unfortunately, Greenspan would be confirmed as Fed chairman and begin a nearly twenty year career of gross mismanagement.
  Fleckenstein quotes Greenspan repeatedly,... more info

• The 1 trillion $$$ bailout is Greenspan's legacy
  Greenspan will be forever linked to the global financial meltdown of 2008. History will not be kind to the Bubble Boy.

• Brilliant study of a failed system
  In this fascinating book, financial journalist William Fleckenstein studies the record of Alan Greenspan, chairman of the Federal Reserve from 1987 to 2006.
  Between 1937 and 1987 there were no bubbles, but Greenspan helped to create two bubbles in ten years - in stocks and then in real estate - by holding interest rates too low, punishing savers. He helped to make the American people worse off by redistributing wealth to the rich, the bubbles' boosters and sponsors.
  Greenspan viewed new technology... more info

• Bad forecaster attacks FOMC's failure to forecast
  The author attacks Alan Greenspan for setting interest rates too low and thus causing all out economic problems. Why did Greenspan do this? He did not see the bubbles (that he himself created) because he was blinded by the "concept of technological driven productivity miracles." The author repeats this idea many many times. But from reading the first five pages you might wonder if Mr. Fleckenstein is the best person to launch a bubble attack like this. On page 3 the author leads you to note 2 (page 189)... more info

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