Comments on: Where Were You in the Elitist War, Daddy? http://mondoweiss.net/2007/10/alan-greenspan.html The War of Ideas in the Middle East Sun, 27 May 2012 21:18:24 +0000 hourly 1 By: Christopher Brown http://mondoweiss.net/2007/10/alan-greenspan.html/comment-page-1#comment-68633 Christopher Brown Mon, 29 Nov 1999 23:00:00 +0000 http://www.philipweiss.org/mondoweiss/2007/10/22/alan-greenspan.html#comment-68633 <p>Greenspan:</p> <p>http://www.informationclearinghouse.info/article18595.htm</p> <p> Still, can we really blame “Maestro” for what appears to have been a spontaneous flurry of “free market” speculation in real estate?</p> <p>To a large extent, yes. Apart from Greenspan’s tacit endorsement of all the dubious loans (subprime, ARMs etc) which flourished during his reign; and despite his brusque rejection of the Fed’s role as regulator; the Federal Reserve’s own documents (“House Prices and Monetary Policy: A Cross-Country Study”) indicate that housing was “specifically targeted” acknowledging that it would serve as “a key channel of monetary policy transmission”. This is not even particularly controversial any more. In fact, we can see that this same scam has been used in England, Spain and Ireland---all now suffering the effects of massive real estate inflation. Low interest rates continue to be the most efficient way of stealthily shifting wealth from one class to another while decimating the foundations of a healthy economy. </p> Greenspan:

http://www.informationclearinghouse.info/article18595.htm

Still, can we really blame “Maestro” for what appears to have been a spontaneous flurry of “free market” speculation in real estate?

To a large extent, yes. Apart from Greenspan’s tacit endorsement of all the dubious loans (subprime, ARMs etc) which flourished during his reign; and despite his brusque rejection of the Fed’s role as regulator; the Federal Reserve’s own documents (“House Prices and Monetary Policy: A Cross-Country Study”) indicate that housing was “specifically targeted” acknowledging that it would serve as “a key channel of monetary policy transmission”. This is not even particularly controversial any more. In fact, we can see that this same scam has been used in England, Spain and Ireland—all now suffering the effects of massive real estate inflation. Low interest rates continue to be the most efficient way of stealthily shifting wealth from one class to another while decimating the foundations of a healthy economy.

]]> By: Seth Roberts http://mondoweiss.net/2007/10/alan-greenspan.html/comment-page-1#comment-68634 Seth Roberts Mon, 29 Nov 1999 23:00:00 +0000 http://www.philipweiss.org/mondoweiss/2007/10/22/alan-greenspan.html#comment-68634 <p>What do you think of what Fallows has written about Walt-Mearsheimer?</p> <p>http://jamesfallows.theatlantic.com/archives/2007/10/armenians_cubans_and_aipac.php</p> What do you think of what Fallows has written about Walt-Mearsheimer?

http://jamesfallows.theatlantic.com/archives/2007/10/armenians_cubans_and_aipac.php

]]> By: MM http://mondoweiss.net/2007/10/alan-greenspan.html/comment-page-1#comment-68635 MM Mon, 29 Nov 1999 23:00:00 +0000 http://www.philipweiss.org/mondoweiss/2007/10/22/alan-greenspan.html#comment-68635 <p>Be sure to see his next post, too, where the Lobby criticizes him for singling out Jews!</p> <p>http://jamesfallows.theatlantic.com/archives/2007/10/now_this_truly_amazes_me_comme.php</p> <p>Twain was right, truth stranger than fiction.</p> Be sure to see his next post, too, where the Lobby criticizes him for singling out Jews!

http://jamesfallows.theatlantic.com/archives/2007/10/now_this_truly_amazes_me_comme.php

Twain was right, truth stranger than fiction.

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