Replies to post #124679 on Zeev's Turnips Patch-No Politics (ZEEV)

[TJ Parker]

I think Greenspan has the intellect to be intellectually honest

i don't even see how you guys can discuss the "intellectual honesty" of greenspan. his words, his actions, his analyses are things that can move the markets. he knows this. so we must assume that they're things crafted for public consumption. e.g. he can't say, "yes, there's a housing bubble", because he could precipitate unwinding of that bubble in a potentially catastrophic way.

i dunno. perhaps the guy is doing the best he can. there's only so much that monetary policy can do to unravel the imbalances of the 90's. at some point, politicians will have to take some responsibility. (is that oxymoronic?)

[augieboo]

"If he can't cite evidence why the Fed will be better
at dealing with the bubble aftermath than it was in
preventing the bubble in the first place, that's a
form of dishonesty, in my book."

marketwatcher, I'm fairly certain that Greenie has cited evidence -- on more than one occasion -- as to why the Fed will be better at dealing with the bubble aftermath than it was in preventing the bubble in the first place. If nothing else, he testifies before Congress on a regular basis, and I cannot imagine that the question has never been put to him, nor can I imagine that he simply sat mute and refused to answer the question(s).

So your statement leaves me thinking that either:

[1] you are aware of $ir Green$pam's assertions on this subject, but you reject them -- (If so I'd be interested in what fault you find with his reasoning); or,

[2] you have attempted to familiarize yourself with Greenie's reasoning but have fallen victim to the sedative effect of his voice and/or verbiage -- (I must admit I have this problem quite often when attempting to listen to or read him); or,

[3] you have no idea what AG's views on the subject are, and/or don't care, so long as you can lay blame on somebody.