Who’s Greenspan Calling Crazy?

New York Sun ^ | September 14, 2016 | Editorial

[expat_panama]

So who is Alan Greenspan suggesting is crazy? We ask because, according to the Bloomberg news ticker, the former chairman of the Federal Reserve refused comment when asked to whom he was referring... ...a country to be undermined by — how should I say it — crazies.”

No doubt the Democratic Party press is going to start suggesting that the crazies to whom Mr. Greenspan was referring are the Republicans lead by Donald Trump... ...might be prepared to see America default on the federal debt. He said he’d “borrowed knowing that you can pay back with discounts.”

That drove the New York Times — how should we say it? — crazy...

...adviser to Mr. Trump. He has started blaming the Federal Reserve for creating a “false economy.” The central bank has expanded its balance sheet by trillions, while the Obama administration has borrowed more money than all previous presidents combined. It has struck her — and us — that a President Trump could well be in a position to lead Congress in a historic monetary reform.

The legislature, to which the Constitution grants all of the monetary powers of the United States, seems well disposed. The House has already passed the Fed Oversight Reform and Modernization Act, which is now before the Senate. The House is preparing to fold that bill into a new, improved version, called the 2016 Choice Act. The measure passed on Tuesday the Financial Services Committee, which means that whoever it is that Mr. Greenspan was referring to when he fretted about the “crazies” could well have to reckon with reality one way or another come November.

[expat_panama]

Re:   Greenspan: "Crazies May Undermine The Country"

[nclaurel]

Sadly the crazies in the uniparty have done nothing but undermine America. That includes Greenspan who as I recall couldn’t find a building door when he met with GWBush and had to have Bush rescue him.

[urbanpovertylawcenter]

Has the Fed Reserve Bank been playing both ends against the middle for far too long?

Loaning money can be risky?

Who knew?

[CincyRichieRich]

The Left and the establishment is desperate and is turning to anyone to help.
Problem is their arrogance is their blind spot.

Many blame Greenspan and others, millennial, DON’T know who this fossil is and likely don’t care and don’t trust.

[expat_panama]

It's the Ides of Septempber and with stocks it's onward and upward onward!  After yesterday's mixed in lower volume futures traders now see more mixed.   They got metals up today and gold/silver are presently at $1,322.14/$19.05.

Today's the day everything gets reported:

8:30 AM Initial Claims
8:30 AM Continuing Claims
8:30 AM Retail Sales
8:30 AM Retail Sales ex-auto
8:30 AM PPI
8:30 AM Core PPI
8:30 AM Philadelphia Fed
8:30 AM Current Account Balance
8:30 AM Empire Manufacturing
9:15 AM Industrial Production
9:15 AM Capacity Utilization
10:00 AM Business Inventories
10:30 AM Natural Gas Inventories

That should mean something right? What about:

Bond Yields Surging, and That's Dangerous - A. Evans-Pritchard, Telegraph
The Stock Market's Mechanism Broken For Now - Doug Kass, RealMoney
Bond Market Flashes Sign Not Seen Since '12 - Eliza Ronalds-Hannon,BBW
To Pols, It's Always the 1933 Economy - Kevin Williamson, National Review
What Occupy Wall Street Got Wrong - Alex Shephard, The New Republic
What Is Barney Frank Doing Working For a Bank? - Danielle Balbi, NYO
How to View a Richer Year for Poor & Middle Class - Quoctrung Bui, NYT
How Annual Household Income Gains Are Flawed - John Crudele, NYP
Obama's Pen and Phone Cost Taxpayers $31B - John Merline, Investor's

[expat_panama]

DON’T know who this fossil is,,,'

Good, they should stay that way.  Them that do say he made the world economy so wonderful that England knighted him --but "Sir Alan" is and was a moron.  Back in '96 he was telling everyone that stocks had 'irrational exuberance" and urged everyone to miss out on 4 more years of bull market.  When the dot com bubble was finally ready to pop he was telling everyone to run from Y2K of all things.

The libs love him tho, then and now.

[raybbr]

As long as the money changers can count on the fed to prop up the market it will keep going. As soon as the idea sinks in that hellery drops out or loses, then yellen will raise rates to sink the economy. Just before that, though, she will warn the money changers and they will hedge their bets and not lose a dime but the rest of us will become further indebted to the great money machine in D.C.

[Lurkina.n.Learnin]

Mr Andrea Mitchell.

[bert]

I must confess, this article and the others about treasuries are as 3CPo said,”Beyond my capacity”

Or, perhaps, there is really no capacity out there

[Crucial]

The money changers will not only not lose a dime, they will make money along with George Soros and make money shorting the market.

[b4its2late]

Plus he married Andrea Mitchell. Now that is crazy.....

[Crucial]

Like Trump says, the game is rigged. Greenspan and his buddies want that gravy train to keep going.

[nclaurel]

And nasty!

[TheNext]

Anti Trust.

Crazies want to trust bust the Fed monopoly on money.

[griswold3]

.Ms Shelton asks very good questions,IMO.
“Really?” she asks, “Crazier than negative interest rates? Crazier than paying banks to keep loanable funds in sterile depository accounts at the Fed? Crazier than having the Fed buy up trillions in government debt, remit the interest payments back to treasury, and then count that as revenue to the federal budget?”

[wastoute]

Trump could do what JFK did. Start printing Silver Certificates. When Fed Reserve notes start cratering the Fed becomes irrelevant.

[HarleyD]

They’ve borrowed 19 trillion dollars and they call us crazy???

[NTHockey]

“No Title of Nobility shall be granted by the United States: And no Person holding any Office of Profit or Trust under them, shall, without the Consent of the Congress, accept of any present, Emolument, Office, or Title, of any kind whatever, from any King, Prince or foreign State.” Article I, Section 8 of US Constitution

[Original Lurker]

It sounds to me Greenspan is fearful Trump may expose just how very, very corrupt and rotten the entire system of joint financials and body politic have become.

Is it possible that one man could stop the gravy train of American crony capitalists/corporatism?

Is it possible that one man could begin to strip away the rigged laws that laid the tracks for the gravy train of American crony capitalists/corporatism?

God’s death, I tell you.
Crony capitalism/corporatism now!
Crony capitalism/corporatism for eva!
/s

[NonLinear]

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