Turnaround Parte Deux: Greenspan Cites Economic ‘Momentum’

[deleted15807]

Dovetailing on the thread The economy has turned around; 162,000 new jobs last month, many in manufacturing


Greenspan made the Sunday morning rounds. The news is surely to make the neo-cons very very depressed. First health care reform was passed, Micheal Steele dropping cash at bondage strip joints and now this very bad news. Time to drum up some more hate for gay marriage and the sanctity of life crowds.

Greenspan Cites Economic ‘Momentum’

Alan Greenspan, the former chairman of the Federal Reserve and a self-described Republican libertarian, on Sunday reinforced increasingly confident assessments by the Obama administration that the nation’s latest job numbers reveal a resurgent economy.

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Mr. Greenspan pointed out that corporate investment in new equipment “is coming back in a fairly substantial way” and that purchasing managers are building up product inventories for the first time in months.

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“We’re in a very different place than we were a year ago,” he said about the jobs situation on “This Week.” “A year ago we were losing 600,000 jobs a month. Now the process of job creation has started. We expect that it will accelerate.”
​

 

[justasimpleguy]

What the fuck does that ignoramus know about anything? All he loves is Ayn Rand's neoliberalism/objectivism/being a huge asshole. He was so wrong no one should ever listen to his again, ever.

 

[B_talltpaguy]

^I can't help but agree...

Regardless, the data he is talking about is around for all to see.

 

[deleted15807]

He's not exactly discussing economic theory just the facts. And at least he has admitted to his flawed model while the party he once called home hasn't questioned or changed anything about their beliefs in laissez-faire government that helped get us here. Nothing. In fact they are against all reform efforts. We need less regulation, more tax cuts and more war.

 

[lucky8]

Greenspan is sort of correct. The economy is on the mend, but interest rates are about to go up, which will cause another recession...like it always does...

 

[deleted15807]

There is no indication interest rates are headed up

Bernanke Affirms Near-Zero Interest Rate Policy

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[lucky8]

Bernanke will raise the rates within the next 2 years. I promise you that...

 

[deleted15807]

interest rates are about to go up

EQUALS

Bernanke will raise the rates within the next 2 years. I promise you that...

 

[lucky8]

When talking interest rates, "within 2 years" is relatively short-term for predicting movements...

 

[deleted15807]

Well the lesson is clear

Don't Short Obama

Think of Obama as a stock. When he came onto the national scene, he was small and undercapitalized. Some investors (i.e., donors and organizers) went long, but plenty of the heaviest hitters bet against him. During the campaign, the prospects of his success were continually downplayed by the Clintons, the national media, and the Republicans.

Those shorting the Obama candidacy got crushed. And since January 2009, so, too, have those who have shorted the Obama presidency—especially the performance of the markets and economy under Obama. The same Republican politicians and economic pundits who (wrongly) said Bill Clinton's 1993 budget would destroy the economy and the stock markets, and who (wrongly) said President Bush's tax cuts would usher in an era of endless prosperity and wonderful market performance, warned again that the presence of a Democrat in the White House would spell doom for the Dow.

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But never to worry. I'm certain the doomsayers will always have a job even if they are always wrong.

​

 

[B_talltpaguy]

When talking interest rates, "within 2 years" is relatively short-term for predicting movements...

What, you thought they were going to continue to hover near zero forever?

And you're the one acting like you know it all and everyone else needs to listen up? lol

 

[Trinity]

Listening to Greenspan? Well listen good.

Greenspan on Heath Care Costs: Severe Consequences if CBO is Wrong

The problem is not their estimates, but the range of potential error in
those estimates.
And when you're dealing with an economy in which debt is becoming -- federal debt is becoming ever increasingly a problem, it strikes me that when you're dealing with public policy and you're in a position where you have to ask yourself, "What happens if we are wrong?"
In other words, in the case now, where our buffer between our
capacity to borrow and our actual debt is narrowing, for the first time, I think, in the American history, there's a question, supposing we are wrong on the cost estimates, and, indeed, they are actually much higher than the best estimates can generate, the consequences are very severe,
whereas if they are too high, it's very easy to adjust.
So I think it's -- it's -- there's an issue over and above the
question of what's the best cost estimate. There's a policy strategy
here which I think requires us to lean in an ever more conservative area
with respect to judging...
(CROSSTALK)
TAPPER: So it might have been too rosy, the projections, you're saying?
GREENSPAN: Possibly. I don't know that. But I do know that the
probability that it might be is much higher than we would like.

ABC News (Video on website)

Greenspan knows the CBO cost estimates for Obama's Healthcare are pure nonsense and actual costs will have a devastating effect on the economy.

 

[cdunstan1]

Bernanke will raise the rates within the next 2 years. I promise you that...

The Fed funds rate is 0-.25%. They can't really go down.

 

[D_Davy_Downspout]

Bernanke will raise the rates within the next 2 years. I promise you that...

That's not really going out on a limb.

 

[B_Nick4444]

Listening to Greenspan? Well listen good.

Greenspan on Heath Care Costs: Severe Consequences if CBO is Wrong

ABC News (Video on website)

Greenspan knows the CBO cost estimates for Obama's Healthcare are pure nonsense and actual costs will have a devastating effect on the economy.

don't waste your time

libs like to pick and choose "facts" "articles" and other notions, with no regard to isomorphism with reality (with which they are unfamiliar) or coherence

 

[D_Davy_Downspout]

don't waste your time

libs like to pick and choose "facts" "articles" and other notions, with no regard to isomorphism with reality (with which they are unfamiliar) or coherence

Remember that time when Greenspan admitted that his entire view of reality was wrong, in front of congress?

Apparently not. Oh no, a fact!