Alan Greenspan

  • 17 Dec 2013 at 6:42 PM

Fed Throws Itself A Very Fed-Like Birthday Party

Before the Federal Open Market Committee began pretending to kick around the idea that maybe it might actually begin to cut its bond buys now, rather than, say, in the future, Ben Bernanke and co. threw themselves a little birthday party featuring the Beard’s only two surviving predecessors, to commemorate the signing of the bill that made all of the ink spilled about tapering stimulus programs possible. Read more »

It’s not just Jeffery Gundlach’s daily pleas for a command. Even your and Alan Greespan’s inability to master the terminal’s most terribly elementary functions will do. Read more »

As you may have heard, the Federal Reserve is now releasing transcripts of its FOMC meetings, in an effort to be open and honest with the public about what it is they do all day. Out this morning are the minutes from 2006′s get-togethers and one thing that stands out is how much fun these guys are having without us! In fact, they spent most of 2006 in stitches, as evidenced by the amount of material The Economist was able to compile under “comments from the Federal Open Market Committee meetings which resulted in laughter.” They’ve got their beard jokes (Mr. Poole: “Okay. Mr. Chairman, it is a great delight to see a 200 percent increase in the number of beards around this table. [Laughter]“), their penis innuendos (Chairman Bernanke: “Still pretty large. [Laughter]“), and their deep nerd humor (“Again, within the normal errors of Okun’s law—despite its name “law,” it’s a pretty loose empirical relationship [laughter]“). But the biggest laugh riot which still holds up today and unquestionably has Alan Greenspan pissing his pants in laughter as he reads it at home? Read more »

And a current and former Fed chair discuss legacies over IM.

GaldalFed: oof
GaldalFed: brutal
Maestro69: what?
GaldalFed: re: Krugman…
Maestro69: hold
GaldalFed: the post…about your FT thing
GaldalFed: k
Maestro69: no idea what you’re talking about
Maestro69: was the guttersnipe trying to blame me for that contracted period of economic dislocation? he needs new material
GaldalFed: it was in response to your FT op-ed saying we should repeal Dodd-Frank
GaldalFed: http://krugman.blogs.nytimes.com/2011/03/30/the-exceptional-mr-greenspan/?smid=tw-NytimesKrugman&seid=auto
GaldalFed: “Alan Greenspan continues his efforts to cement his reputation as the worst ex-Fed chairman in history” Read more »

“I conclude that the current government activism is hampering what should be a broad- based robust economic recovery, driven in significant part by the positive wealth effect of a buoyant U.S. and global stock market.” [CFR via BI, earlier]

As you may have heard, Ferrari has introduced a new car, the FF, which comes with four-wheel drive, room for four and 15.9 cubic feet of trunk space, the most in its category. The FF, which will set you back $359,000, is being targeted to “wealthy families” whose head of household would like to be in a two-seater but has a wife, kids and all their stuff to consider. But this is just as good, says Fabio Barone Ferrari owner and chairman of the Passione Rossa owners’ club. “You can finally drive a real Ferrari, with its extreme performance, to take your family skiing.” With the FF, Ferrari is “widening its offer to niches it didn’t cover before,” said AT Kearney analyst Marco Santino. “It may be a winning strategy if they are bringing something really new to the market.” True but it seems us that Ferrari could be going after hell of a lot more niches than just wealthy family men and does itself a disservice by not considering the other individuals who would happily shell out for this thing. Read more »

At a talk at NYU earlier this week, Alan Greenspan told John Paulson, “Whenever I get gloomy, I think of Winston Churchill. America always does the right things … after it has tried every other viable alternative.” Being pressed for time they had to go on to the next question, but if they’d had longer, Big Al would’ve shared all his tricks for turning that frown upside down. Read more »