Alan was the architect of the world economic crash of 07. His pals around the world took $90 trillion out of working peoples pensions and 401ks. If you’re not rich , you lost 7.7% of your net wealth in 08. It’s happening again but this time it will be a slow bleed. In 18 months , every dollar you have will be worth 40 cents. I could fix it in one day but a lot of rich people would be mad. Very mad.
Demographics has never been more important. And it’s not looking great. The moral hazard that has been created will take down society and perhaps even the world as we know it.
The real problem with the system is interest. There is no money in the world to pay interest since the initial disbursement of funds is static. Those the interest becomes debt with which there is no money to pay.
Tax cuts in 1998 did not increase TFP in Ireland - the 1990s enjoyed the TFP increase; the 2000s was excessive credit, inflationary and a loss international competitiveness. This is the same economy that had to endure massive fiscal austerity after its property market collapsed by an historically epic magnitude...Perhaps taxes before hand would have buffered the fiscal purse and tempered the asset price inflation. Certainly didn't add to TFP! See: Federal Reserve Data - fred.stlouisfed.org/series/RTFPNAIEA632NRUG
dobiacco - did you listen to what he was saying. It's a free study in economics and human nature. The FED has nothing to with the discussion. Do you know your history. Research France and fiat currency in the late 1700'.
the history of a small group of men, meeting in secret...on an island, to plot up a way to sneak a bill through congress that allows them to print the currency for the world??? that history?
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Alan was the architect of the world economic crash of 07. His pals around the world took $90 trillion out of working peoples pensions and 401ks. If you’re not rich , you lost 7.7% of your net wealth in 08. It’s happening again but this time it will be a slow bleed. In 18 months , every dollar you have will be worth 40 cents. I could fix it in one day but a lot of rich people would be mad. Very mad.
The greatest Fed chair of all times
Burnanke is a candidate
Thing that he saying now probably could not during his tenure since it could affect the market
Demographics has never been more important. And it’s not looking great. The moral hazard that has been created will take down society and perhaps even the world as we know it.
1:03:41 Fiat Money ?
The real problem with the system is interest. There is no money in the world to pay interest since the initial disbursement of funds is static. Those the interest becomes debt with which there is no money to pay.
A bankers Hero!
5th century Ancient Greece!
Bespoke train h opportunity
Tax cuts in 1998 did not increase TFP in Ireland - the 1990s enjoyed the TFP increase; the 2000s was excessive credit, inflationary and a loss international competitiveness.
This is the same economy that had to endure massive fiscal austerity after its property market collapsed by an historically epic magnitude...Perhaps taxes before hand would have buffered the fiscal purse and tempered the asset price inflation. Certainly didn't add to TFP!
See: Federal Reserve Data - fred.stlouisfed.org/series/RTFPNAIEA632NRUG
Allan Greenspan The greatest central banker of all time and like J.P. Morgan he is a man of his word.
dobiacco - did you listen to what he was saying. It's a free study in economics and human nature. The FED has nothing to with the discussion. Do you know your history. Research France and fiat currency in the late 1700'.
the history of a small group of men, meeting in secret...on an island, to plot up a way to sneak a bill through congress that allows them to print the currency for the world??? that history?