Alan 'Not-Me' Greenspan Strikes Again [View article]
Greenspan was directly responsible for the market crash of 2000. The "internet bubble" would have resolved itself without taking taking down the entire market as those companies without a viable business plan and a history of profitability would gradually go under on their own or merge with other companies. It was Greenspan who couldn't stand the "irrational exuberance" of investors who were taking advantage of the positive effects of the economic growth of China, India and other emerging markets during that period. There wasn't a single sign of inflation as Greenspan continued to raise interest rates in the insane desire to kill the stock market which affected the entire industrialized world. Considering the fact that the vast majority of retirement/pension plans are based primarily on investing in the stock market, Greenspan's actions had a disastrous effect on those plans. I lost over 50% of my 401k. Unless he has something positive to say he should keep his big mouth shut. I am certain that Bernanke is going to have the exact same effect every time he opens his trap.
One more thing: It's obvious that rising oil prices are directly responsible for the current wave of inflation sweeping the country/world right now. How in the heck do the idiots at the Federal Reserve think that raising interest rates is going to bring down the price of oil?
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On Oct 28 10:09 PM steveballmer wrote:
> Microsoft is the only ones who could possiblly do this correctly!
Alan 'Not-Me' Greenspan Strikes Again [View article]
One more thing: It's obvious that rising oil prices are directly responsible for the current wave of inflation sweeping the country/world right now. How in the heck do the idiots at the Federal Reserve think that raising interest rates is going to bring down the price of oil?