03-03-2005, 06:37 PM | #1 (permalink) | |
....is off his meds...you were warned.
Location: The Wild Wild West
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Is Greenspan a "Hack"?
Well, I'm not the biggest fan of Alan Greenspan, he has pulled a couple of stunts that have made my blood boil.
On the whole, however, I think the guy is pretty sharp and nows what the hell he is doing. Also, I find that criticisms of him usually come from the party that is most negatively affected by what he says or does. If he says the deficit is our biggest concern, the Dems love him and the Republicans blow him off. Conversely, if he says anything remotely positive about privatizing Social Security, the Republicans sing his praise and the Dems say: Quote:
By the way, good ol' Harry Reid is the one who is quoted above. Side note: What's up with him. Daschle gets run out and this guy takes the reigns. I remember reading the comment thread on Fark about the Democrats response to the State of the Union--even the liberals were bashing him. Anyway, what do you think? Hack or not? Considering this guy has served both Republicans and Democrats for years and years, I would be interested to see people's take on him. Like I said, for the most part, he is impressive (i.e. warning about the dot.com bubble long before it burst). But sometimes, I wonder about things he does (raise rates right before the end of the year--that made some mortgage rates take a hike up and banks made a ton of money).
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Before you criticize someone, you need to walk a mile in their shoes. That way, if they get angry at you.......you're a mile away.......and they're barefoot. |
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03-03-2005, 07:20 PM | #2 (permalink) |
All important elusive independent swing voter...
Location: People's Republic of KKKalifornia
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*scratches head*
He's sort of an institution, kind of Merlin-like, very mysterious. Usually, I don't really understand what he says until someone interprets it. Generally, I am under the impression that he's doing a good job, done a good job, but I am not an economist. As for personal opinion, I would say depends on whom you ask. If you did well while he was around, you probably like him. If you've been laid of dozens of times or whatever can be attributed to him, you probably don't think he did a good job. Kind of like your Rep vs Dems comparison. It's hard to quantify what he did for me: His raising of interest rates increased my student loans. Since I haven't bought a house yet, I did not benefit from when he lowered interest rates. I don't freak out too much cause I figure it all rolls around eventually. |
03-03-2005, 07:22 PM | #3 (permalink) |
whosoever
Location: New England
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i used to respect him a great deal...he insisted on political independance, and that lowering the deficit, and hopefully later the debt, was the path to long term fiscal stablity for the nation. he seemed to lose a lot of that with W... Greenspan famously hiked rates against the wishes of Bush Sr, which helped to elect Clinton in 92... but this time around, he seems to parrot the latest lines. i dunno if his replacement canidates will be any better. volker doesn't seem to want the job back...and he's the only one who really comes to mind.
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For God so loved creation, that God sent God's only Son that whosoever believed should not perish, but have everlasting life. -John 3:16 |
03-03-2005, 07:23 PM | #4 (permalink) | |
Somnabulist
Location: corner of No and Where
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Reid really isn't telegenic. I mean, he's Anna Nicole Smith bad, just in a very different way. But he's gotten the Dems to get their shit together and really brought strength into a leadership position that I felt was always inadequately filled by Daschle. I'll admit, though, I thought Reid would suck. I stand corrected. As for Greenspan, I think what Reid was referring to is this:
Quote:
I think its a little wankery to say one thing as Fed chairman, and then say something completely different as a private citizen. And Greenspan supports (as a private citizen) privatization, which would eviscerate the Social Security Trust Fund plan that HE set up in 1983. None of this means that Greenspan is a total hack; I just don't know. But his seeming hypocrisy, twice over, is a little weird. It comes down to this: either he makes statements he believes to be patently untrue in his role as Fed chairman and lied when he said he liked his SS Trust Fund plan in 1983, or he's a Bush hack. Though, he's not the biggest hack in Washington. Not by a long shot.
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03-03-2005, 09:30 PM | #5 (permalink) |
Junkie
Location: bedford, tx
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anyone have any links or documentation about comments from reid while greenspan worked under clinton?
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03-03-2005, 09:36 PM | #6 (permalink) | |
....is off his meds...you were warned.
Location: The Wild Wild West
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Quote:
In 1996 and again in 2000, Reid joined a handful of Democratic senators in voting against President Clinton's nomination of Greenspan to new terms as Fed chairman.
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Before you criticize someone, you need to walk a mile in their shoes. That way, if they get angry at you.......you're a mile away.......and they're barefoot. |
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03-03-2005, 11:43 PM | #7 (permalink) | |
Somnabulist
Location: corner of No and Where
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Krugman on Greenspan:
Quote:
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"You have reached Ritual Sacrifice. For goats press one, or say 'goats.'" |
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03-05-2005, 02:49 PM | #8 (permalink) |
....is off his meds...you were warned.
Location: The Wild Wild West
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NEW YORK — Federal Reserve Chairman Alan Greenspan (search) on Thursday gave his support to an overhaul of the U.S. tax code and said some form of a consumption tax — such as a national sales tax — could help the economy, but he cautioned that the government would face significant problems making such a transition.
Well, at least I am behind him on this one. Do you think Greenspan backing a consumption tax is a good or bad thing? Do you think it will have an effect?
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Before you criticize someone, you need to walk a mile in their shoes. That way, if they get angry at you.......you're a mile away.......and they're barefoot. |
03-05-2005, 02:57 PM | #9 (permalink) |
whosoever
Location: New England
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sales taxes are regressive. to raise the same amount of money, they will with out a doutbt, raise the percent of income that the working poor and the middle class will pay. is that what you want?
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For God so loved creation, that God sent God's only Son that whosoever believed should not perish, but have everlasting life. -John 3:16 |
03-05-2005, 03:01 PM | #10 (permalink) | |
....is off his meds...you were warned.
Location: The Wild Wild West
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Quote:
Second, how could it be regressive if the first $18k is non-taxable? Regressive means it gets bigger as the income goes down. Last I checked, zero is smaller than one. Third, we have discussed this in a different thread. Not really on point here. If you want to discuss it further, I would have no problem rehashing the previous discussion.
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Before you criticize someone, you need to walk a mile in their shoes. That way, if they get angry at you.......you're a mile away.......and they're barefoot. Last edited by KMA-628; 03-05-2005 at 03:10 PM.. |
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03-05-2005, 03:10 PM | #11 (permalink) | |
Junkie
Location: Tobacco Road
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Is he a hack?? Probably not. Does the media give him too much weight on economic issues? Well, that really depends on what issues the media deems important (ie...does it make Bush look bad).
That said, I believe AG loves the attention he gets from the media, thus making him an attention whore
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03-06-2005, 12:15 AM | #12 (permalink) | ||||
Banned
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Oh....yeah....Greenspan "is a hack", and he merits watching....closely:
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the link to the third article regularly, for the entertainment and awareness value combined, and you will have no questionn as to whether Greenspan "is a hack" ,and you will become concerned, to the point of being as afraid as I have become, for the future of our currency, and for our country.............. Quote:
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03-06-2005, 10:19 PM | #13 (permalink) | |
Wehret Den Anfängen!
Location: Ontario, Canada
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Quote:
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Last edited by JHVH : 10-29-4004 BC at 09:00 PM. Reason: Time for a rest. |
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03-07-2005, 02:41 AM | #14 (permalink) |
Crazy
Location: Various places in the Midwest, all depending on when I'm posting.
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Greenspan in kind of like your local weatherman. If he predicts rain and it rains, you are happy because you are wearing your raincoat. If he says it will be sunny and its sunny, you are happy because you are playing outside. If he says it will be partly cloudy with a thirty percent chance of rain and it rains, you are furious with him because obviously he either caused the rain or failed to warn you about it.
The man is just trying to read the signs around him. Greenspan is no more a hack than any other economist.
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Look out for numbers two and up and they'll look out for you. |
03-07-2005, 11:50 AM | #15 (permalink) | ||
Banned
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case for gold being a reliable and risk free medium of exchange, and that the history of fiat currencies is a dismal record of inevitable failure. When pressed by Ron Paul, as I documented above, Greenspan does not retract his advocacy for a gold standard, yet he "takes credit" and therefore also advocates, as Fed chairman, the largest and riskiest policy of expansion of a fiat currency based monetary system ever undertaken, even as he offers no prediction for the effect on valuation that the policy he has presided over will result in. Quote:
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greenspan, hack |
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