Wikinvest Wire

Greenspan and Cramer on Meet the Press

Sunday, December 13, 2009

Former Fed chairman Alan Greenspan thinks rising stock prices have saved the world and CNBC's Jim Cramer nods accordingly. You'd think that a little less deference to these two would be in order after what's happened over the last two years, but, apparently not.


It's funny (in a very destructive sort of way) how hosts like David Gregory - who otherwise seems to be doing a pretty good job filling Tim Russert's rather large shoes but who obviously does little or no critical thinking about such weighty matters as the role of the Federal Reserve in our recent troubles and the sustainability of financial markets as we know them - helps to "re-legitimize" people like Greenspan and Cramer just by having them on.

He seems to just be doing his small part to try to resurrect the old Wall Street-Washington business model giving nary a thought to whether or not that's even possible.

Bookmark and Share

2 comments:

Anonymous said...

They ought to invite Paul Volcker on instead of these two - stocks would tank the next day......

Steven said...

I feel that the actions of the US government (and other governments that have followed in their footsteps) in their attempts to "improve" the economy is very irresponsible and wreckless. It has wasted trillions of dollars bailing out creditors and shareholders of failed institutions with broken business models rather than addressing the structural flaws in the system of too much debt. And this is going to lead to massive problems down the road with regard to our currency and interest rates, in my opinion. And I think that the gold price breaking out to a new high is a strong indication of the reduction in faith and confidence that people have in governments and their fiat currencies. I recently read a good article called Gold Price Wobbles Under $1,130 But U.S. Dollar Future Bleak that discusses the Federal Reserve's easy monetary policies in order to try to prevent any sort of deflation from occurring and to try to reflate assets prices. There are also many more articles here that I think are very helpful for any investor to read because they help to explain the investment implications for the dollar, the gold price, and gold mining companies who I believe will continue to benefit from central banks' inflationary programs.

  © Blogger template Newspaper by Ourblogtemplates.com 2008

Back to TOP