Was Greenspan Wrong

[jonahtrainer]

An article that discusses whether Greenspan was wrong about finding a flaw in his free market ideology.

 

[Truth Warrior]

Alan Greenspan: A Minority Report
http://www.lewrockwell.com/rothbard/rothbard192.html

 

[theoakman]

An article that discusses whether Greenspan was wrong about finding a flaw in his free market ideology.

Greenspan doesn't know what the free market is. He was the one intervening the entire time by artificially setting interest rates.

 

[Mitt Romneys sideburns]

Greenspan was no capitalist

 

[Truth Warrior]

Gold and Economic Freedom

[SIZE=-1]by Alan Greenspan[/SIZE]

http://www.usagold.com/gildedopinion/greenspan.html

 

[Carole]

An article that discusses whether Greenspan was wrong about finding a flaw in his free market ideology.

Greenspan is a lying piece of work. He was covering for himself. He did not find a flaw in the free market system since we do not have one. The flaws were all government and Fed created. Damn it!!!!!!!!!

It was he who opened the door with Clinton to the housing mess. He saw what was about to happen and he high tailed it as fast as he could away from the Head Fed position--again to cover his behind.

He is a total tool.

 

[Carole]

Alan Greenspan: A Minority Report
http://www.lewrockwell.com/rothbard/rothbard192.html

Thanks. Good article. The myth dethroned.

 

[lasenorita]

There's also this article from DownsizeDC.org:
Greenspan's Final Betrayal

 

[gonegolfin]

Greenspan doesn't know what the free market is. He was the one intervening the entire time by artificially setting interest rates.

Bingo.

Brian

 

[Mitt Romneys sideburns]

Greenspan was all about blowing up bubbles

 

[jon_perez]

Greenspan is a lying piece of work. He was covering for himself. He did not find a flaw in the free market system since we do not have one. The flaws were all government and Fed created.

There is a free market in everything *except* money. While monetary policy does affect the operations of the markets to some degree (everyone - including central bankers - admits this), I think attempts to extrapolate this to say that we do not have a free market at all in any way are quite disingenuous and smacks of propaganda.

Greenspan has a point regarding regulation. While reading Rothbard's clever arguments about how a free banking system will police itself are very intoxicating and appealing (much like reading communist utopian writings), I would think events in the real world more likely point out that absent regulation, financiers would - like a cartel - connive among themselves to loot those outside the system.

 

[Truth Warrior]

SIR JOSIAH STAMP, (President of the Bank of England in the 1920's, the second richest man in Britain)

"Banking was conceived in iniquity, and was born in sin. The Bankers own the Earth. Take it away from them, but leave them the power to create deposits, and with the flick of the pen, they will create enough deposits, to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear, and they ought to disappear, for this would be a happier and better world to live in. But if you wish to remain the slaves of Bankers, and pay the cost of your own slavery, let them continue to create deposits."

"The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks." -- Lord Acton

 

[Paulitician]

He was wrong to oppose certain regulation, but my argument would be that we wouldn't need most of those regulations if we had honest money and no central bank--oddly enough, that the same thing Greenspan said 40 years ago. So it's not his "free market" ideology that was flawed, its his interventionist central banking ideology that's horribly flawed.