WASHINGTON (MarketWatch) — Former Federal Reserve Chairman Alan Greenspan has always been a student of the economy. (Great! Could you not have told us that he was just a "student" of the economy before he destroyed the economy?) Since the financial crisis, he’s become a student of human nature. (Oh??? A student of human nature? Aren't we all students of human nature?
Sitting in his office with a view of the Washington Monument in the distance, Greenspan is eager to share the insight distilled in his recent book, “The Map and the Territory,” due out in paperback this fall. (ummm, yeah, about that insight...too bad he didn't have any insight into the total destruction of wealth that the FED helped usher in...Boy that would have been some insight to speak of....
Greenspan, 88, who was chairman of the U.S. central bank for more than 18 years, from 1987 to 2006, managed to steer the economy through multiple crises, mainly by slashing rates and remaining upbeat(WOW! & I thought the power of positive thinking was strictly for those rascally Christians and their positively thinking minions, who knew that it could steer the economy? I like that and will see how that works out with my monthly budget. If you think your financial status is gold, well then it simply must be because I am upbeat about it! This is awesome sausage!) He suffered a remarkable fall from grace after leaving office and has apologized for trusting big banks too much( Hahahaha, so sorry my B!&*$, you lost your life savings but hey, he's apologized so let's move on). He has since gone back and re-examined his views on the economy. ( REALLY??? No seriously, ARE YOU FOR SERIAL??? Do tell us Mr. Brain, how have your views on the economy changed? Those of who have lost their livelihoods, savings, & lives, want to know your deep DEEP thoughts.)
Greenspan, now the president of Greenspan Associates LLC, an economic consulting firm, spoke to MarketWatch about the current stance of Fed policy, the economy and what to do about asset bubbles. (OK, this last sentence right here, contains within it the cause for what is wrong with the economy, but by all means, let's go on pretending) The economy will do all right in the near term, he said, buoyed by a strong equity market, but he added that he remains worried that we could be facing another false dawn. (OMG!!! I know you did not just say that??? The economy will do all right in the near term??? NEAR TERM??? ALRIGHT??? Ok, If by near term you mean in the next few minutes and "alright" meaning we won't have to quantitatively ease another 4 trillions dollars...AND A STRONG EQUITY MARKET??? ARE YOU SMOKING CRACK??? NO SERIOUSLY ARE YOU SMOKING CRACK because no one with any sense of basic economics thinks that we have a strong equity market but let's get back to the spinning of the History of Alan Greenspan)
The interview has been edited for length and clarity.( Hahahahaha, Greg Robb has told a funny. Puhleeease, clarity? The only clarity in this story is the certain reward you received for writing and printing this piece of Wikipedian style journalism)
MarketWatch: What is the biggest challenge facing the Fed? (Um It's very existence now that everyone knows it's not Federal and there are no reserves?)
Greenspan: How to unwind the huge increase in the size of its balance sheet with minimal impact. It is not going to be easy, and it is not obvious exactly how to do it.(Oh dang it, you mean the printing of trillions of dollars which devalued the dollar and was a stealth tax on EVERYONE in the world needs to be unwinded? Oh dear, pray tell us does that mean we might have massive hyperinflation??? Say it isn't so ??? And it's not obvious how to keep this from happening??? Yeah that's the point you lover of big banks, your insight should have seen this coming.)
MarketWatch: As the Fed is looking at the exit, do you think we can get through this without upsetting the economy?(OMG I can't take it. WITHOUT UPSETTING THE ECONOMY??? BEEN THERE RUINED THAT!)
Greenspan: I certainly hope so. I certainly think they will. But it is going to be difficult.(Hope and change man, that's all I got is hope and change)
MarketWatch: Do you expect a sharp market reaction to the first hike?
Greenspan: Of course. Look what happened when the first indication of tapering occurred. Markets have always been sensitive. They reflect animal spirits.(Yes, kind of like the animal spirits you have been conjuring. We would have been better off if you had gotten your insight from a stick)
MarketWatch: Will the Fed’s communication to markets be key here? (Ummm NO)
Greenspan: I am not sure. One area I was always doubtful about during my tenure is how much we could effectively communicate to markets, because they were always second guessing the Fed. It was a battle, and I am not sure we always won.( COMMUNICATE??? What is this like the debate team or the failed Republican Party that can't communicate well???
No SIR!!! This article is a fraud and looks more like you hired a public relations firm to spin for Alan I never saw it coming Greenspan. Communications was not Alan's problem. Thinking you could centrally plan the economy and come out on top was the problem.
END THE FED NOW!!!!
I feel exhausted and worn out from dissecting this piece of garbage and must rest by weary brain.