Yes, its time for Greenspan to go...
In 1987, after only a few months in office, he cranked down the money supply so fast the market crashed. This is how he started. How's he going to end up? He's taken credit for the big market boom in the later half of the 1990's, but has been out speaking and absolving himself from having to do with bust.
AG spoke out about the bubble in 1995, knew the damage it could cause, and did nothing to stop it, although through the use of margin requirements he could have easily stopped the speculation. On the back of the stock bubble, and to prevent a standard business cycle recession, he has fostered a credit bubble, which has bloated housing prices. We now have a service economy (new economy), an economy burdened with too much debt and capacity, with an almost depression level performance in manufacturing. The performance of the stock market under Greenspan's 15 tenure is actually WORSE than the PREVIOUS 15 year period that came before him.
Sooner or later he must go, as old as he is, its time for fresh blood. I'm convinced whoever replaces him will do a better job. Lets get a plain talking Fed Head who doesn't speak in riddles. I fear AG's exit, will be marred by the same kind of event that happened when he first arrived.
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