User Tag List

Page 2 of 12 FirstFirst 123456789 ... LastLast
Results 11 to 20 of 113

Thread: Greenspan: "There is nothing to prevent the government from creating as much money...

  1. #11
    Banned Achievements:
    50000 Experience PointsSocialTagger First ClassCreated Album picturesVeteranCreated Blog entry
    Overall activity: 39.0%

    Crunch's Avatar
    Join Date
    Aug 2014
    Location
    Texas
    Posts
    23,767
    Thanks
    5,276
    Thanked: 27,752
    Rep Power
    0
    @michaelr

    Do you have any comments on Owl's assertions?

  2. #12
    Banned Achievements:
    50000 Experience Points7 days registered
    Overall activity: 30.0%

    DeficitOwl's Avatar
    Join Date
    Mar 2016
    Posts
    581
    Thanks
    42
    Thanked: 27
    Rep Power
    0
    Quote Originally Posted by Trinnity View Post
    Apparently, he doesn't.
    WASHINGTON — Badgered by lawmakers, former Federal Reserve Chairman Alan Greenspan denied the nation’s economic crisis was his fault on Thursday but conceded the meltdown had revealed a flaw in a lifetime of economic thinking and left him in a “state of shocked disbelief.”

    Greenspan, who stepped down in 2006, called the banking and housing chaos a “once-in-a-century credit tsunami” that led to a breakdown in how the free market system functions. And he warned that things would get worse before they get better, with rising unemployment and no stabilization in housing prices for “many months.” Gloomy economic reports backed him up. New jobless claims soared to just under 500,000 for last week, and Goldman Sachs, Chrysler and Xerox all said they were cutting thousands more workers. On Wall Street, the Dow Jones industrials bounced erratically all day before finishing up 172 points — after a two-day drop of nearly 750.

    The financial crisis even prompted the Republican Greenspan, a staunch believer in free markets, to propose that government consider tougher regulations, including requiring financial firms that package mortgages into securities to keep a portion as a check on quality.He said other regulatory changes should be considered, too, in such areas as fraud.Greenspan admits mistake that helped crisis - Business - Stocks & economy - Economy at a Crossroads | NBC News

    What he didn't count on was Congress' monkey business at the hands of Barney Frank and Chris "Countrywide" Dodd who along with their democrat droogs, pressured banks into making shoddy loans to people who could't pay them. ACORN and other advocacy groups wheedled the democrats for ever more favors to blacks and because they have a backscratching relationship - votes for bennies - the dems tanked our economy and took us into a recession that still hasn't ended. Those were YOUR people that did this.

    Chris Dodd took his loot and retired. Barney Frank admitted he was wrong too - fat lot of good that did the rest of us left holding the bag.
    When US Representative Barney Frank spoke in a packed hearing room on Capitol Hill seven years ago, he did not imagine that his words would eventually haunt a reelection bid. The issue that day in 2003 was whether mortgage backers Fannie Mae and Freddie Mac were fiscally strong. Frank declared with his trademark confidence that they were, accusing critics and regulators of exaggerating threats to Fannie’s and Freddie’s financial integrity. And, the Massachusetts Democrat maintained, “even if there were problems, the federal government doesn’t bail them out.’’ Now, it’s clear he was wrong on both points
    Frank haunted by stance on Fannie, Freddie - The Boston Globe

    In fact he did know, and he straight up lied:
    Barney Frank Admits Lies

    This is one of the issues I've talked about in detail here in the past, so don't be surprised when I scoff at your ignorance.
    This is great. You know what greenspan's ideological stance was before the crisis? He considered himself a "free market" advocate. Not so much anymore. What makes you think I support what the democrats did with the loans? And when I say "understand how the economy functions" I am referring to reserve operations/money creation.

  3. #13
    Banned Achievements:
    50000 Experience Points7 days registered
    Overall activity: 30.0%

    DeficitOwl's Avatar
    Join Date
    Mar 2016
    Posts
    581
    Thanks
    42
    Thanked: 27
    Rep Power
    0
    Quote Originally Posted by Crunch View Post
    @michaelr

    Do you have any comments on Owl's assertions?
    Which assertion? There is nothing to prevent the government from creating all of the money it wants. Greenspan isn't the only one who knows this.
    Last edited by DeficitOwl; 03-10-2016 at 08:14 AM.

  4. #14
    Banned Achievements:
    50000 Experience Points7 days registered
    Overall activity: 30.0%

    DeficitOwl's Avatar
    Join Date
    Mar 2016
    Posts
    581
    Thanks
    42
    Thanked: 27
    Rep Power
    0
    Quote Originally Posted by stjames1_53 View Post
    you call worthless money a success?
    It has led us here, to a point where money is even more worthless than when it rolled off the press.
    Tell us, Oh, Einstein One, what's the collateral for the debt? and why aren't you addressing the issue of interest on that some debt you love?
    Yes, I call fiat money a success.
    You can call money "worthless" because it is, but I want you to explain why there is such a vicious demand for us dollars. If money is so worthless, why do you want dollars? Why do we have them? Easy questions.
    The debt isn't a problem, I refuse to call it a "debt" in any sense of the word. It's more like the national savings. The interest isn't a problem, the government simply credits the account of whoever is holding the maturing treasuries. Like Greenspan said.. nothing is preventing the government from creating more dollars.

  5. #15
    butthurt Achievements:
    50000 Experience PointsOverdriveTagger Second Class31 days registered
    Awards:
    Frequent PosterActivity Award
    Overall activity: 99.9%

    sandhurstdelta's Avatar
    Join Date
    Feb 2016
    Location
    Peoples' Republic Calif
    Posts
    5,118
    Thanks
    1,333
    Thanked: 1,016
    Rep Power
    12877540
    Quote Originally Posted by DeficitOwl View Post
    Greenspan was a federal reserve chairman and understands how the modern economy functions better then all of this. He's not wrong on this either.
    You "sound like" a complete moron for making an assertion like this about Greenspan's expertise. He was merely a goddam musician trying to be a Fed chairman.

    Greenspan in his final throws as the 2008 derivatives crash began went up on national tv and denied that he ever "knew" anything about how to correctly run a federal reserve banking agency.

    Hopefully you read Trinnity's quote of his mea culpa.

    Thus your attempt to assert that Greenspan had credibility impeaches your own credibility and therefore you "sound like" a complete moron.

    Pardon me for scoffing at your extreme ignorance.

    Goodbye. Don't expect any responses from me at least.
    Last edited by sandhurstdelta; 03-10-2016 at 08:24 AM.

  6. The Following User Says Thank You to sandhurstdelta For This Useful Post:

    St James (03-10-2016)

  7. #16
    Alumni Member Achievements:
    SocialTagger First ClassRecommendation Second Class50000 Experience PointsVeteran
    Overall activity: 20.0%

    St James's Avatar
    Join Date
    Dec 2012
    Location
    S. Indiana
    Posts
    10,394
    Thanks
    15,896
    Thanked: 6,568
    Rep Power
    1718009
    .............the more you print, the more worthless.................
    You study history at all? If you have, you know that all debt-bearing governments have fallen. Every last damned one of them.
    and this is what you're applauding?
    Everything is on its way to somewhere
    "The Nation that makes a great distinction between its scholars and its warriors will have its thinking done by cowards and its fighting done by fools."
    - Thucydides

    "Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote" B. Franklin
    Igitur qui desiderat pacem, praeparet bellum

    

  8. #17
    Banned Achievements:
    50000 Experience Points7 days registered
    Overall activity: 30.0%

    DeficitOwl's Avatar
    Join Date
    Mar 2016
    Posts
    581
    Thanks
    42
    Thanked: 27
    Rep Power
    0
    Quote Originally Posted by sandhurstdelta View Post
    You "sound like" a complete moron for making an assertion like this about Greenspan's expertise. He was merely a goddam musician trying to be a Fed chairman.

    Greenspan in his final throws as the 2008 derivatives crash began went up on national tv and denied that he ever "knew" anything about how to correctly run a federal reserve banking agency.

    Hopefully you read Trinnity's quote of his mea culpa.

    Thus your attempt to assert that Greenspan had credibility impeaches your own credibility and therefore you "sound like" a complete moron.

    Goodbye. Don't expect any responses from me at least.
    He was appointed by Reagan and he is well versed in economics.
    You're a liar.
    Alan Greenspan - Wikipedia, the free encyclopedia
    In 1945, Greenspan attended New York University, where he earned a B.S. degree in economics summa cum laude in 1948[13] and an M.A. degree in economics in 1950.[14] AtColumbia University, he pursued advanced economic studies under Arthur Burns but dropped out.[15]
    In 1977, Greenspan obtained a Ph.D. in economics from New York University. His dissertation is not available from the university[16] since it was removed at Greenspan's request in 1987, when he became Chairman of the Federal Reserve Board. In April 2008, however, Barron'sobtained a copy and notes that it includes "a discussion of soaring housing prices and their effect on consumer spending; it even anticipates a bursting housing bubble".[17]
    So we've established that he's well educated when it comes to economics.
    Greenspan simply demonstrated that he believed his ideology was mistaken, his "free market" ideology.
    Greenspan, as former chairman of the fed reserve for years, knows more about operations at the reserve then me and you. This isn't debatable.
    Last edited by DeficitOwl; 03-10-2016 at 08:26 AM.

  9. #18
    Banned Achievements:
    50000 Experience Points7 days registered
    Overall activity: 30.0%

    DeficitOwl's Avatar
    Join Date
    Mar 2016
    Posts
    581
    Thanks
    42
    Thanked: 27
    Rep Power
    0
    Quote Originally Posted by stjames1_53 View Post
    .............the more you print, the more worthless.................
    You study history at all? If you have, you know that all debt-bearing governments have fallen. Every last damned one of them.
    and this is what you're applauding?
    "the more you print, the more worthless."
    Explain what you're talking about. We've been "printing" trillions and, hell, people are talking about DEFLATION. So much for that..
    Yes, virtually every government in history has fallen, I'm surprised the US is still going.
    I'm not necessary applauding it, I simply recognize the reality of the modern economy and accept fiat money. It's never going away.

  10. #19
    Banned Forum Donor Achievements:
    SocialOverdrive50000 Experience PointsTagger First Class1 year registered
    Awards:
    Calendar Award
    Overall activity: 40.0%

    michaelr's Avatar
    Join Date
    Feb 2014
    Location
    FEMA Region 10
    Posts
    24,708
    Thanks
    8,578
    Thanked: 7,708
    Rep Power
    0
    Quote Originally Posted by Crunch View Post
    @michaelr

    Do you have any comments on Owl's assertions?
    Yea, it's nuts. You have a set value of a nation's abilities. To dilute that is to weaken it. It's like this, there are 10 dimes to a dollar. These idiots think you can make 50 dimes to a dollar. 'A dollar' being your value. Can you make 50 dimes? Yes, but they're only worth 2 cents each.

  11. #20
    Sr ADMIN/Founder IT Staff
    Forum Donor
    V.I.P
    TPF Moderator
    Achievements:
    SocialRecommendation First ClassTagger First ClassOverdrive50000 Experience PointsCreated Album picturesVeteran
    Overall activity: 99.5%

    Trinnity's Avatar
    Join Date
    Nov 2012
    Posts
    58,212
    Thanks
    8,118
    Thanked: 49,730
    Rep Power
    21474901
    Quote Originally Posted by DeficitOwl View Post
    What makes you think I support what the democrats did with the loans? And when I say "understand how the economy functions" I am referring to reserve operations/money creation.
    Who knows what you think - you're all over the place. You're just playing games. I'm watching. Some. And filing my nails; girl's gotta do whatta girl's gotta do.

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •