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POPSGreenspan on Immigration Skip to the bottom of this article. One of the most interesting insights is that Greenspan thinks the U.S. should encourage more skilled immigration--a move Bill Gates and others have been pushing for.
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POPSMore Banks will Fail And the response: Bailout by the taxpayer. Privatizing Profits and the taxpayer pays for the bailout. Socialism for the Corporate World.
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POPSAlan Greenspan vs Noami Klein When Greenspan is trying to back paddle from his positions, and Naomi K. is questioning his decisions that led to this and other problems America and the world economy is facing, I almost feel sorry for the man.
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POPSThey're Baaack--Juan Coles take on Amerikan Big Oil in Iraq
Thanks to Ratilfar...Maybe he clipped it too but it deserves all the spreading it gets...excellent column by Juan Cole: Bush and Cheney clearly went into Iraq primarily in order to put US petroleum firms in precisely this favored position. The US power elite wanted this outcome and connived actively at it. As Alan Greenspan put it, “I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.” Poor Iraq has been looted, occupied, and disrupted by the industrialized West for a century because of the curse of its oil wealth. The Iraqi Petroleum Company was until 1929 the Turkish Petroleum Company since it began in 1912 with a concession from the Ottoman Empire, which ruled Iraq before the 1917 British conquest. The victors of World War I used their victory to leverage themselves into Iraqi oil. The Ottomans had thrown in with Germany and Austria in 1914, and were defeated by the victorious allies. Iraq was considered a s
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POPSIs Bernanke Worse Than Greenspan?
"right" interest rate, which is a fool's errand. When he'd pick a rate that was too wrong, we'd wind up with a misallocation of capital, and he would come back and try to rescue it with more easy money. There's lots of evidence of his willingness to cut rates but reticence to take back those cuts. The consequence was an epic stock bubble. When that burst, it took 13 rate cuts and three tax cuts to get us going again a bigger housing bubble that's more dangerous. So how do you square criticism of Greenspan with unprecedented economic growth during his tenure? You have to weigh the gains with the fallout. If you're taking steroids and do really well, but three years later you get cancer, was it worth it? That's why in the stock mania, I said it would lead to problems, and people laughed at me before the Nasdaq dropped 70 percent. It's the same in the housing bubble. If we are a year from now mired in the worst recession of the last 30 to 40 years, will it have........
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POPSBernanke -- A Graduation Speaker? Some of the things Harvard students wish they'd see at Ben Bernanke's graduation speech this June are pretty funny. He certainly wouldn't be my first choice for a graduation speaker!
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POPS10 Ways History's Finest Kept Their Focus at Work
7. Aim low Don’t schedule every minute of your day 8. Take time to relax The great all reserved time to relax. And this doesn’t mean engaging in some semi-productive activity like reading a book or washing the dishes. No, they blocked out time to do nothing at all. Gandhi would often spend time just staring at the horizon. Churchill would sit down to smoke a cigar after lunch and Beethoven would stop off for a few beers after his afternoon walk. In his recent autobiography, Alan Greenspan mentions that he too makes time to reflect each day. 9. Get up early(?) This one is the subject of hot debate. Samuel Johnson, Churchill and Dylan Thomas got up late. Gandhi, Franklin and Mandela all got up early. 10. Exercise! Emerson, Beethoven, Nietzsche, Victor Hugo and Gandhi all went for walks. Nietzsche said that he ’scribbled’ notes while he took his walk and claims that some of his best thoughts came in this way. Mandela’s 5 am walks are legendary. The story goes that he on
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POPSGreenspan New Finance revolution opened the floodgates to fraud on every level from home mortgage brokers to lending agencies to Wall Street and London securitization banks to the credit rating agencies
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POPS Recession Q&A: What It Could Mean To You Q: Are we in a recession or about to enter one? A: We won’t know for sure unless the NBER announces it, and that would likely be long after the fact. (It did not decide the last recession began in March of 2001 until November of that year.) So far, GDP has yet to shrink. But there are some things that are common to most recessions that are present now. Read the full Q&A. A recession in 2008 isn’t official yet. But with unemployment rising and stocks falling — including a 4% drop in the Dow Jones Industrial Average last week — many economists, including former Federal Reserve Chairman Alan Greenspan and former Treasury Secretary Lawrence Summers, say the U.S. is probably in a recession. What does that mean exactly? And what does it mean for investors? Here are answers to some key questions.
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POPSMoney, Banking And The Federal Reserve Alan Greenspan is not, we're told, happy about this 42-minute blockbuster. Watch it, and you'll understand why. Thomas Jefferson and Andrew Jackson understood "The Monster". But to most Americans today, Federal Reserve is just a name on the dollar bill. They have no idea of what the central bank does to the economy, or to their own economic lives; of how and why it was founded and operates; or of the sound money and banking that could end the statism, inflation, and business cycles that the Fed generates.
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POPSMalpass On The Pathetic Dollar Missing from the conversation on the recession and inflation: bolstering the dollar. Malpass says jawboning it up may do even more good than the Fed making money cheaper again. He's probably right -- inflation risks are much too high right now for the Fed to drag us back to the free money climate of a couple years ago. That's also the risk-free climate which spawned the current housing market excesses.
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