The Stock Market And Its “Wealth Effect”

On February 18 I wrote a post concerning Alan Greenspan’s comments regarding the stock market “as a stimulus.” In this post, I would like to highlight comments made by Federal Reserve officials (Bernanke and Sack) as well as another made by Greenspan, as I believe that these official comments regarding the stock market’s “wealth effect” … Read more The Stock Market And Its “Wealth Effect”

Alan Greenspan On Impact Of QE2

Recently Alan Greenspan wrote a paper titled “Activism.” (pdf)   While I don’t agree with many of its analyses and conclusions, I am finding it to be an interesting document. On March 4, CNBC interviewed Greenspan.  I found one response by Greenspan to be especially notable.  The question happens at the 42 second mark: interviewer:  … Read more Alan Greenspan On Impact Of QE2

Alan Greenspan – On “The Stock Market As A Stimulus”

Alan Greenspan gave an interview to The Wall Street Journal on January 7.  I found various parts to be of interest, and in many instances I disagree (partially or fully) with what he says.  I  wrote a February 3 blog post on his comments in the interview concerning the primary purpose of a central bank. … Read more Alan Greenspan – On “The Stock Market As A Stimulus”

Alan Greenspan On The Primary Purpose Of A Central Bank

On January 7, The Wall Street Journal conducted an interview of Alan Greenspan. I found a few aspects of this interview to be interesting.  Perhaps most notable was the following comment by Greenspan, seen at the 13:58 mark: “…the primary purpose of a central bank is to protect the value of the currency…” I will … Read more Alan Greenspan On The Primary Purpose Of A Central Bank

Two Quotes From Alan Greenspan

As an extension of the last post concerning bubbles, here are two of Alan Greenspan’s past comments that I find particularly relevant given our current environment: This is from a September 26, 2005 speech he gave in which he speaks about how negative “shocks” may impact the economy.  I find this quote interesting as it … Read more Two Quotes From Alan Greenspan

Greenspan’s Most Notable Phrase

Alan Greenspan recently gave a lengthy video interview on Bloomberg.  A short summary is found at this link; the actual video is the first listed near the bottom of the article. I found the video to be most interesting.  Greenspan elaborates upon his recent “The Crisis” paper, which I mentioned here.  As well, he discusses … Read more Greenspan’s Most Notable Phrase

Alan Greenspan “Takes On His Critics”

The March 1 edition of Fortune Magazine has an article titled “Alan Greenspan Fights Back.”  The link is found here. I found the article interesting for a variety of reasons. As the article mentions, rarely has Greenspan addressed his purported culpability in creating the housing bubble and its accompanying impact on the economy. Greenspan’s tenure … Read more Alan Greenspan “Takes On His Critics”