Worst Economics and Investing Actor of the Decade Award goes to…..
And the Worst Economics and Investing Actor of the Decade Award goes to…..Bernie Madoff? Robert Rubin? Dennis Wheeler? Ben Bernanke? NOPE!
And the “Winner” is:
Alan Greenspan for his “performance” as Fed Chairman in creating the Tech AND housing bubbles!!!!!!!!!!!!!!!! (Please watch this poor acting job, I mean interview as it will help you understand the point I am making!)
And yet, this liar, hypocrite and coward still denies it?? !!#$%%$!!
Don’t believe me?
Go back and watch his most interview from last week on ABC that I linked to above (I know you intentionally skipped watching the interview and I’m calling you out for it!!!) where he continues to deny he saw ANY of this coming when he continually lowered interest rates, handed more free money to the banks and made it easier for every American citizen to get easy money and easy credit for a long time.
We must give the award to the root of all of these economic and financial problems. That, ladies and gentleman, is, in my humble opinion, Alan Greenspan!
Yes, Greenspan’s policies are still being carried out and expanded upon by current Federal Reserve Chairman, Ben Bernanke.
But, Greenspan is without a doubt responsible for starting this whole easy money, easy credit avalanche/snowball intentionally and he deserves the award more than his handpicked successor, Ben Bernanke, because this is a decade, lifetime “achievement” award (like one of the awards Greenspan is being given on his banquet and lecture circuit tour).
The really sad part is for people who do know the truth, Greenspan also has denied any responsibility whatsoever for causing bubbles and has said repeatedly, even under oath and under questioning from Ron Paul, any responsibility for causing what we are experiencing now.
Don’t worry Ben! There’s still time for you to win this award too!
But, back to Greenspan and his bubbles.
He says it was impossible for anyone to see this (housing bubble and credit crisis) coming after the Tech bubble when subprime mortgages were emphasized and anyone with a pulse, NINJAs (No Income No Job No Assets) were also given lots of credit and easy access to owning homes they couldn’t afford.
And yet, many thousands of professional investors, traders, economists and politicians like Ron Paul were able to predict and see AND also profit off of what Greenspan couldn’t see (we will take his word for it temporarily and just asusme he is stupid and could not see the forest).
The question I want to know is how come so many thousands of people could see something (fairly easily I might add) that he couldn’t??
Greenspan is also the main guy responsible for allowing the “Inflation Monster” out of its cage! 
Here’s some additional opinions about Greenspan and his bubbles from other investors and authors:
- I Saw The Crisis Coming. Why Didn’t the Fed??
- Bill Fleckenstein, author of Greenspan’s Bubbles, on Greenspan
Here’s Peter Schiff’s latest Video Blogs about Alan Greenspan. Peter also wants to challenge Alan to a debate since Peter was able to correctly predict the housing bubble and its collapse years before it actually happened and it wasn’t luck like Greenspan hints.
After watching these videos and interviews and reading the articles I have linked to, I really hope you get the point I am trying to make.
The point I am trying to make, and hopefully you figured out without me mentioning it now and that you should take away from this article is that Alan Greenspan knew exactly what he was doing!
He gave into the politicians and the private banking interests that makeup the banking cartel that is the Fed and did the least amount of long term good for the most amount of people. That’s bad economics and croney capitalism! That’s giving into special interests that he denounced in one of the videos I posted earlier!
He lowered interest rates routinely and gave away many hundred billion in free money to the banks and Wall St.
The banks were greedy and wanted more and time after time, he gave them what they wanted!
Think of the money like gasoline being added to a fire. This is Greenspan’s fire and Greenspan’s bubbles.
He started this mess, but does not have the integrity to admit any responsibility for creating or nor is he trying to help clean it up. He’s too busy collecting 6 figure fees for speaking/consulting engagements and awards he doesn’t deserve!
So, in conclusion, he deserves an “award” alright, but just not the ones he is currently getting in public!
Also, be sure to checkout The Mess That Greenspan Made Blog. It is quality!
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