Greenspan says bubbles can’t be stopped without ‘crunch’
Former Fed chairman worries about false dawns and the looming Fed exit
WASHINGTON (MarketWatch) — Former Federal Reserve Chairman Alan Greenspan has always been a student of the economy. Since the financial crisis, he’s become a student of human nature.
Sitting in his office with a view of the Washington Monument in the distance, Greenspan is eager to share the insight distilled in his recent book, “The Map and the Territory,” due out in paperback this fall.
‘There is definite evidence the economy is picking up. The financial system is finally beginning to lend. But, what we don’t know is whether, when the recovery gets underway, it is going to run into another false dawn.’
Alan Greenspan to MarketWatch
Greenspan, 88, who was chairman of the U.S. central bank for more than 18 years, from 1987 to 2006, managed to steer the economy through multiple crises, mainly by slashing rates and remaining upbeat. He suffered a remarkable fall from grace after leaving office and has apologized for trusting big banks too much. He has since gone back and re-examined his views on the economy.
https://www.marketwatch.com/story/greenspan-worries-about-false-dawns-fed-exit-2014-07-24
talk about a bubble , look at the village mayor and council . people wake up look at all the homes for sale in town . we must have over 150.