Tuesday, February 07, 2006

Riding the "Greenspan Boom[s]"

The "Great Inflationist," that's what Doug Noland at the Prudent Bear calls Alan Greenspan who sure came off his beat at the Fed as the wise comptroller of the currency, didn't he? Thanks to him, "inflation is under control," right? Oh, the Great Illusionist.



He does appear the portrait of discreet wisdom, measuring his every word, talking in rhymes and riddles; but the man's actions speak much louder and clearer than his public words, and strangely enough, they contradict his own previously written economic philosophy.

To me, he's the epitome of hypocrisy, but I'll give him a chance to explain himself in his memoirs. Maybe he'll have some explanation and all of us credit hawks will go, "Oh... so THAT's it..."

Yup, this Noland, we see eye to eye. The more I read him, the more I like him. His latest piece here gives a scathing summary of the Alan Greenspan monetary era.

See my own article here for a lighter take on the man. Also, for a more detailed discussion of inflation, read here.

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