Asbytec

Greenspan Still Clueless on Moral Hazard

Mr Sharp, I agree and disagree. I agree near zero interest rates, QE, currency swaps, huge bonuses, alphabet soup programs (TARP, etc.), and bank bail outs are not the preferred method to get an economy going.

But, unfortunately, this is how you save the system as it stands today. And Bernanke has done what needed to be done under our current system, even though it's not what we'd like to see get done.

I'd argue the system, per se, needs fixing, by quite possibly eliminating the Fed removed or at least federalize it. Then, we might have better options to fix a recession, like Keynesian economics. (LOL@me) But, it might actually work, in such a case.

Watching the interview above, I see a big difference in Greenspan's loose money, mortgage your home to prosper philosophy. My bet is on Bernie tightening like a mad man as soon as inflation rears it's ugly head. (Yea, I said inflation is ugly.) He will almost have to, well...if he can. In as much as Greenspan is a mouth piece for the oligarchy, Bernanke may be, too.

On Oct 02 05:37 PM Adam Sharp wrote:

> Thanks... But I think Bernanke is making even more extreme mistakes
> than Greenspan. So we need to learn from the past, and correct future
> actions.