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**skijoring** · February 18, 2009, 03:49 PM

Re: Greenspan says recession will be 'longest and deepest' since '30s

And why do we dignify him with links here? Is he coming out with a new book or something? Greenspan should be in a witness protection program. :mad:

**LargoWinch** · February 18, 2009, 04:42 PM

Re: Greenspan says recession will be 'longest and deepest' since '30s

Originally posted by skijoring View Post

And why do we dignify him with links here? Is he coming out with a new book or something? Greenspan should be in a witness protection program. :mad:

D-Mack I am sure does not want to dignify him, but vilify him.

Lets all channel our anger…

**cjppjc** · February 18, 2009, 04:50 PM

Re: Greenspan says recession will be 'longest and deepest' since '30s

Originally posted by skijoring View Post

And why do we dignify him with links here? Is he coming out with a new book or something? Greenspan should be in a witness protection program. :mad:

Wans't this knuckle head as disiple of Ayn Rand. What the heck happened. Is it that once you get to Washington you drink the Kool Aid and find that it not only tastes good. But it's good for you.

**petertribo** · February 18, 2009, 04:51 PM

Re: Greenspan says recession will be 'longest and deepest' since '30s

Originally posted by skijoring View Post

Greenspan should be in a witness protection program. :mad:

As regards protection programs, Sir Al (hey we can disagree but let's be respectful) Greenspan set up the Hedge Fund Manager Protection Program. His successor Ben has expanded the program with TARP, FED Windows of your choice and assorted other acronymic dumps to be used to convert your "securities" into usable cash. Financial shake 'n bake.

Policing agencies will impress the gullible Public by appearing to do something like chase after a Madeoff or Stanford while thousands flee the Crime Scene with their TARPed profits to commit more economic Crimes in the future.

Thus the next, new, even more criminalized Boom will be born.

**D-Mack** · February 18, 2009, 05:16 PM

Re: Greenspan says recession will be 'longest and deepest' since '30s

Originally posted by cjppjc View Post

Wans't this knuckle head as disiple of Ayn Rand. What the heck happened. Is it that once you get to Washington you drink the Kool Aid and find that it not only tastes good. But it's good for you.

Is it a good thing to be a disciple of Rand? I remember reading an article by him on the gold standard in one of her books.

Reminds me of him talking to Jon Stewart in 2007

The video doesn't work for me that well

The irreverent Stewart suffers none of the nervous ticks that prevent the cowardly cadre of so-called real "journalists" that staff America's news rooms from asking important questions during interviews. For instance, while talking with Greenspan, Stewart brought up the idea that America, supposedly, has a free market economy. "So, why do we have a Fed?" Stewart asked. "Wouldn't the market take care of interest rates and all that? Why would we have someone adjusting the rates if we are a free market society?"

Greenspan's answer: "You didn't need a central bank when you were on a gold standard."

http://web.archive.org/web/200709260....org/node/5640

**Roughneck** · February 18, 2009, 07:18 PM

Re: Greenspan says recession will be 'longest and deepest' since '30s

Absolute power corrupts absolutely. The essay he wrote in Rands book on capitalism was about the gold standard,go figure.

**Uno** · February 18, 2009, 10:59 PM

Re: Greenspan says recession will be 'longest and deepest' since '30s

Nice post below on how Greenspan's great moderation was all smoke and mirrors. If you remove the often quoted government data manipulation then inflation jumps between inflation spikes, disinflation, and even deflation for the last 20 years.

Look carefully at all analyst's assumptions, especially the unstated assumpations, this include iTullip and EJ.

In the end, if it feels like deflation then we are in deflation. We will get inflation again in the future but don't count on it in 2009, 10, 11, 12, ...

Whatever you do, please do not invest your family's future on this absurd idea of hyperinflation in the USA untill WWIII starts somewhere.

http://themessthatgreenspanmade.blog...hat-wasnt.html

**touchring** · February 18, 2009, 11:19 PM

Re: Greenspan says recession will be 'longest and deepest' since '30s

Originally posted by Uno View Post

but don't count on it in 2009, 10, 11, 12, ...

Whatever you do, please do not invest your family's future on this absurd idea of hyperinflation in the USA untill WWIII starts somewhere.

i won't jump to conclusion so quickly, hyperinflation does not have to be a worldwide phenomenon. Probably not in 2009, 10, and 11, but beyond that nobody knows.

**chrisk** · February 18, 2009, 11:35 PM

Re: Greenspan says recession will be 'longest and deepest' since '30s

Speaking of Greenspan:

EJ: You mention you know Greenspan personally.
Hudson: I knew him from the time I worked at Chase Manhattan Bank 40 years ago. I was told to fire Greenspan over an oil study. Greenspan was known around Wall Street as a guy who fakes the numbers for his clients. He's a hired shill. No one on Wall Street took him seriously. Not credible. He was the guy you hired if you wanted a propagandist. Chase wanted real numbers in the oil study.

http://itulip.com/forums/showthread....dson+Greenspan

**c1ue** · February 19, 2009, 09:28 AM

Re: Greenspan says recession will be 'longest and deepest' since '30s

Originally posted by Uno

In the end, if it feels like deflation then we are in deflation. We will get inflation again in the future but don't count on it in 2009, 10, 11, 12, ...

Whatever you do, please do not invest your family's future on this absurd idea of hyperinflation in the USA untill WWIII starts somewhere.

Well, the first part of this assertion seems very premature...

http://finance.yahoo.com/news/Wholes...-14410311.html

Inflation at the wholesale level surged unexpectedly in January, reflecting sharply higher prices for gasoline and other energy products.

The Labor Department said Thursday that wholesale prices increased by 0.8 percent last month, the biggest gain since last July and well above the 0.2 percent increase that economists had expected.

The acceleration was led by a 3.7 percent surge in energy prices with gasoline prices jumping by 15 percent, the biggest gain in 14 months.
Even outside the volatile food and energy sectors, wholesale prices showed a bigger-than-expected increase, rising by 0.4 percent. Economists had expected a slight 0.1 percent rise in so-called core inflation.

Is the second part of the assertion also premature?

Well, my view is simple: Maybe it won't happen. Maybe the chance of it happening is low. But it COULD happen - we're well beyond the meteor hitting the earth realm of probability into getting into a car accident realm of probability.

Should you invest based on the premise of hyperinflation? Absolutely not.

But should you CYA? That's what the 15% gold allocation is for.

In some sense it is preparing to run for the hills, but without appearing to do so.

**BadJuju** · February 19, 2009, 11:16 AM

Re: Greenspan says recession will be 'longest and deepest' since '30s

Originally posted by c1ue View Post

But should you CYA?

What does that mean? :confused:

**thedanimal** · February 19, 2009, 11:20 AM

Re: Greenspan says recession will be 'longest and deepest' since '30s

Originally posted by BadJuju View Post

What does that mean? :confused:

Cover Your Ass.

**BadJuju** · February 19, 2009, 11:31 AM

Re: Greenspan says recession will be 'longest and deepest' since '30s

Originally posted by thedanimal View Post

Cover Your Ass.

Oh, thank you.

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