titanic

Book Review: 'Greenspan's Bubbles' by Bill Fleckenstein

I saw the tech bubble in 1998 and knew it was a joke. Then, when it crashed, I witnessed the obvious move by Greenspan to create the housing bubble rather than allow the idiots to learn a lesson from the dot.bomb days.

Greenspan is really a fraud. He was just a Wall Street stooge who pandered for attention. But he told people what they wanted to hear, not the truth. In short, he was a politician.

Is It Time To Get Back Into Financial ETFs?

Why would anyone buy bank stocks whose balance sheets are loaded with junk; at least enough junk to reduce the equity value of the shares to zero. Maybe it is better to buy the bonds and at least get interest until the banks get pulled through the knothole of bankruptcy and then you get shares as part of the reorganization. This mess is less than halfway and the economy is still tanking and that tanking will pick up steam. Bernanke doesn't have to worry too much about inflation because most people don't have any discretionary money to spend on "core" items. One thing that would help get this over would be a repeal of the Bankruptcy Reform Act so the irresponsible lenders can go down in tandem with the irresponsible borrowers. At least it would wash the slate clean and would be better than this slow bleed out.