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“After reading Greenspan's Bubbles you will have no respect for the Fed! It's a must-read…in it, the authors demystify the belief that the Fed 'solves' problems when, in fact, it is directly responsible for a colossal destruction of wealth of the median household and of the U.S. currency through its irresponsible monetary policies.”
-Marc Faber, editor of the Gloom, BoomandDoom Report
“Greenspan for Mt. Rushmore? Not if Bill Fleckenstein has anything to say about it.”
-James Grant, editor of Grant's Interest Rate Observer
“In his typically engaging style, Bill Fleckenstein pops the Greenspan bubble…presenting compelling and convincing evidence that the former Fed chief got us into this mess...”
“Before Ben Bernake shovels more cash into the U.S.'s money trap, he should read Greenspan's Bubbles, a damning account of how his predecessor inflated two asset bubbles that mutated into $11 trillion in home mortgage debt.”
--Bloomberg News
“Alan Greenspan was dubbed history's greatest Federal Reserve chairman upon his retirement in 2006, but the housing bust is prompting renewed criticism of his laissez-faire brand of monetary policy. Hedge fund manager William Fleckenstein is among the loudest critics. Fleckenstein is the author of Greenspan's Bubbles: The Age of Ignorance at the Federal Reserve. He views Greenspan's legacy as a litany of too-low-for-too-long interest rates that created the dot-com and housing bubbles.”
--US NewsandWorld Report
“I suggest that you read Greenspan's Bubbles, a recent book by William Fleckenstein. It'll knock your socks off.”
--Copley News Service
Synopsis:
PRAISE FOR
GREENSPAN'S BUBBLES
“After reading Greenspan's Bubbles you will have no respect for the Fed! It's a must-read…in it, the authors demystify the belief that the Fed 'solves' problems when, in fact, it is directly responsible for a colossal destruction of wealth of the median household and of the U.S. currency through its irresponsible monetary policies.”-Marc Faber, editor of the Gloom, BoomandDoom Report
“Greenspan for Mt. Rushmore? Not if Bill Fleckenstein has anything to say about it.”-James Grant, editor of Grant's Interest Rate Observer
“In his typically engaging style, Bill Fleckenstein pops the Greenspan bubble…presenting compelling and convincing evidence that the former Fed chief got us into this mess...”-Herb Greenberg, Senior Columnist, MarketWatch.com
Synopsis:
No matter who you are-investor, trader, homeowner, 401(k) holder, or CEO-you are bound to feel the impact of Alan Greenspan's “Age of Ignorance” for years to come.
According to MSN Money columnist William A. Fleckenstein, Greenspan's nearly 19-year career as Federal Reserve Chairman is even worse than anyone imagined. Labeled “Mr. Bubble” by the New York Times, Greenspan was nothing less than a serial bubble blower with a long history of bad decision-making. His famous “Greenspan Put” fueled the perception of a Goldilocks economy-but, as this explosive exposé reveals, the bear has finally caught up with Goldilocks.
Using transcripts of Greenspan's FOMC meetings as well as testimony before Congress, this eye-opening book delivers a timeline of his most devastating mistakes and weaves together the connection between every economic calamity of the past 19 years:
The stock market crash of 1987
The SavingsandLoan crisis
The collapse of Long Term Capital Management
The tech bubble of 2000
The feared Y2K disaster
The credit bubble and real estate crisis of 2007
Fleckenstein explains just how far-reaching Greenspan's mess has been flung, and presents damning evidence that contradicts the former Fed chief's public naiveté concerning shifts in the market and economy. He also points to a disturbing fact, that throughout his career, Greenspan not only made costly mistakes, but made the same ones-over and over again. And not only was he never able to recognize or admit to those mistakes, he constantly rewrote his own history to justify them.
Greenspan's Bubbles offers a lock-stock-and-barrel portrait of a flawed but fascinating man whose words and actions have led a whole generation astray, and whose legacy will continue to challenge us in the years ahead.
William A. Fleckenstein is president of Fleckenstein Capital, a money management firm based in Seattle. He writes a daily Market Rap column for his Web site, Fleckensteincapital.com, as well as the popular column Contrarian Chronicles for MSN Money.
Frederick Sheehan is a former Director of Asset Allocation Services at John Hancock Financial Services. He has written for Marc Faber's Gloom, Boom and Doom Report, Whiskey and Gunpowder, and the Prudent Bear Web sites.
Alan Greenspan, housing bubble, stock market, real estate, housing market, ATM, FOMC, Fed, Fed Chairman, Federal Reserve, Black Monday, Savings and Loan, Long Term Capital, Mr. Bubble, Greenspan Put, Liar s Poker, The Age of Turbulence, A Demon of Our Own
Subject:
Alan Greenspan, housing bubble, stock market, real estate, housing market, ATM, FOMC, Fed, Fed Chairman, Federal Reserve, Black Monday, Savings and Loan, Long Term Capital, Mr. Bubble, Greenspan Put, Liar s Poker, The Age of Turbulence, A Demon of Our Own
Subject:
Alan Greenspan, housing bubble, stock market, real estate, housing market, ATM, FOMC, Fed, Fed Chairman, Federal Reserve, Black Monday, Savings and Loan, Long Term Capital, Mr. Bubble, Greenspan Put, Liar s Poker, The Age of Turbulence, A Demon of Our Own
Subject:
Alan Greenspan, housing bubble, stock market, real estate, housing market, ATM, FOMC, Fed, Fed Chairman, Federal Reserve, Black Monday, Savings and Loan, Long Term Capital, Mr. Bubble, Greenspan Put, Liar s Poker, The Age of Turbulence, A Demon of Our Own
Subject:
Alan Greenspan, housing bubble, stock market, real estate, housing market, ATM, FOMC, Fed, Fed Chairman, Federal Reserve, Black Monday, Savings and Loan, Long Term Capital, Mr. Bubble, Greenspan Put, Liar s Poker, The Age of Turbulence, A Demon of Our Own
Subject:
t bubble, Gramlich
Subject:
Alan Greenspan, housing bubble, stock market, real estate, housing market, ATM, FOMC, Fed, Fed Chairman, Federal Reserve, Black Monday, Savings and Loan, Long Term Capital, Mr. Bubble, Greenspan Put, Liar s Poker, The Age of Turbulence, A Demon of Our Own
Subject:
Alan Greenspan, housing bubble, stock market, real estate, housing market, ATM, FOMC, Fed, Fed Chairman, Federal Reserve, Black Monday, Savings and Loan, Long Term Capital, Mr. Bubble, Greenspan Put, Liar s Poker, The Age of Turbulence, A Demon of Our Own
Subject:
Alan Greenspan, housing bubble, stock market, real estate, housing market, ATM, FOMC, Fed, Fed Chairman, Federal Reserve, Black Monday, Savings and Loan, Long Term Capital, Mr. Bubble, Greenspan Put, Liar s Poker, The Age of Turbulence, A Demon of Our Own
Subject:
Alan Greenspan, housing bubble, stock market, real estate, housing market, ATM, FOMC, Fed, Fed Chairman, Federal Reserve, Black Monday, Savings and Loan, Long Term Capital, Mr. Bubble, Greenspan Put, Liar s Poker, The Age of Turbulence, A Demon of Our Own
Subject:
Alan Greenspan, housing bubble, stock market, real estate, housing market, ATM, FOMC, Fed, Fed Chairman, Federal Reserve, Black Monday, Savings and Loan, Long Term Capital, Mr. Bubble, Greenspan Put, Liar s Poker, The Age of Turbulence, A Demon of Our Own
Subject:
Alan Greenspan, housing bubble, stock market, real estate, housing market, ATM, FOMC, Fed, Fed Chairman, Federal Reserve, Black Monday, Savings and Loan, Long Term Capital, Mr. Bubble, Greenspan Put, Liar s Poker, The Age of Turbulence, A Demon of Our Own
Subject:
Alan Greenspan, housing bubble, stock market, real estate, housing market, ATM, FOMC, Fed, Fed Chairman, Federal Reserve, Black Monday, Savings and Loan, Long Term Capital, Mr. Bubble, Greenspan Put, Liar s Poker, The Age of Turbulence, A Demon of Our Own
Subject:
Alan Greenspan, housing bubble, stock market, real estate, housing market, ATM, FOMC, Fed, Fed Chairman, Federal Reserve, Black Monday, Savings and Loan, Long Term Capital, Mr. Bubble, Greenspan Put, Liar s Poker, The Age of Turbulence, A Demon of Our Own
Subject:
Alan Greenspan, housing bubble, stock market, real estate, housing market, ATM, FOMC, Fed, Fed Chairman, Federal Reserve, Black Monday, Savings and Loan, Long Term Capital, Mr. Bubble, Greenspan Put, Liar s Poker, The Age of Turbulence, A Demon of Our Own
Subject:
Alan Greenspan, housing bubble, stock market, real estate, housing market, ATM, FOMC, Fed, Fed Chairman, Federal Reserve, Black Monday, Savings and Loan, Long Term Capital, Mr. Bubble, Greenspan Put, Liar s Poker, The Age of Turbulence, A Demon of Our Own
Subject:
Alan Greenspan, housing bubble, stock market, real estate, housing market, ATM, FOMC, Fed, Fed Chairman, Federal Reserve, Black Monday, Savings and Loan, Long Term Capital, Mr. Bubble, Greenspan Put, Liar s Poker, The Age of Turbulence, A Demon of Our Own
Subject:
Alan Greenspan, housing bubble, stock market, real estate, housing market, ATM, FOMC, Fed, Fed Chairman, Federal Reserve, Black Monday, Savings and Loan, Long Term Capital, Mr. Bubble, Greenspan Put, Liar s Poker, The Age of Turbulence, A Demon of Our Own
Subject:
United States Economic policy.
Subject:
Board of Governors of the Federal Reserve Sys
Subject:
Business, Investing
Copyright:
2008
Publication Date:
February 2008
Binding:
Hardcover
Grade Level:
Professional and scholarly
Language:
English
Illustrations:
Y
Pages:
208
Dimensions:
8.34x5.68x.85 in. .74 lbs.
Age Level:
Alan Greenspan, housing bubble, stock market, real
“After reading Greenspan's Bubbles you will have no respect for the Fed! It's a must-read…in it, the authors demystify the belief that the Fed 'solves' problems when, in fact, it is directly responsible for a colossal destruction of wealth of the median household and of the U.S. currency through its irresponsible monetary policies.”-Marc Faber, editor of the Gloom, BoomandDoom Report
“Greenspan for Mt. Rushmore? Not if Bill Fleckenstein has anything to say about it.”-James Grant, editor of Grant's Interest Rate Observer
“In his typically engaging style, Bill Fleckenstein pops the Greenspan bubble…presenting compelling and convincing evidence that the former Fed chief got us into this mess...”-Herb Greenberg, Senior Columnist, MarketWatch.com
"Synopsis"
by McGraw,
No matter who you are-investor, trader, homeowner, 401(k) holder, or CEO-you are bound to feel the impact of Alan Greenspan's “Age of Ignorance” for years to come.
According to MSN Money columnist William A. Fleckenstein, Greenspan's nearly 19-year career as Federal Reserve Chairman is even worse than anyone imagined. Labeled “Mr. Bubble” by the New York Times, Greenspan was nothing less than a serial bubble blower with a long history of bad decision-making. His famous “Greenspan Put” fueled the perception of a Goldilocks economy-but, as this explosive exposé reveals, the bear has finally caught up with Goldilocks.
Using transcripts of Greenspan's FOMC meetings as well as testimony before Congress, this eye-opening book delivers a timeline of his most devastating mistakes and weaves together the connection between every economic calamity of the past 19 years:
The stock market crash of 1987
The SavingsandLoan crisis
The collapse of Long Term Capital Management
The tech bubble of 2000
The feared Y2K disaster
The credit bubble and real estate crisis of 2007
Fleckenstein explains just how far-reaching Greenspan's mess has been flung, and presents damning evidence that contradicts the former Fed chief's public naiveté concerning shifts in the market and economy. He also points to a disturbing fact, that throughout his career, Greenspan not only made costly mistakes, but made the same ones-over and over again. And not only was he never able to recognize or admit to those mistakes, he constantly rewrote his own history to justify them.
Greenspan's Bubbles offers a lock-stock-and-barrel portrait of a flawed but fascinating man whose words and actions have led a whole generation astray, and whose legacy will continue to challenge us in the years ahead.
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