tag:blogger.com,1999:blog-1563385524081176864.post5036508160524253154..comments2023-09-28T06:41:02.639-07:00Comments on Phileo's Picture Windows: Anatomy of Fed IncompetencePhileohttp://www.blogger.com/profile/03489790780839086228noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-1563385524081176864.post-310973401229687432008-01-17T15:12:00.000-08:002008-01-17T15:12:00.000-08:00agreed! sailors sure get a bad rap :-)agreed! sailors sure get a bad rap :-)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1563385524081176864.post-25993718428307635252008-01-16T23:14:00.000-08:002008-01-16T23:14:00.000-08:00MWF,I dunno, I'd agree and disagree with your poin...MWF,<BR/><BR/>I dunno, I'd agree and disagree with your point about Greespan being the true root cause.<BR/>Greenspan had no choice bu to reduce the Fed Funds rate because the economy was in recession back in 2001. But yeah, I'd agree that the Greenspan era also acted one step too late in cutting rates, and of course, cut too much, and left the fed funds rate at next to nothing for too long, allowing the housing bubble to really take form and substance.<BR/><BR/>I'm not saying that Bernanke could have prevented the 2008 recession, but I am saying that he could have exercised better judgement, and respond more quickly to the changing market conditions.<BR/><BR/>And of course you and I both know that the sailor is doomed to repeat the drunkeness/sobriety cycle because that is how he was wired up, just like how the markets will inevitably repeat the boom/bust, fear/greed, bull/bear cycle.<BR/><BR/>Such is life, eh?Phileohttps://www.blogger.com/profile/03489790780839086228noreply@blogger.comtag:blogger.com,1999:blog-1563385524081176864.post-92065090981207567232008-01-16T19:37:00.000-08:002008-01-16T19:37:00.000-08:00i take the side of those who say we're in this mes...i take the side of those who say we're in this mess from the first round of rate cuts by greenspan...instead of letting the free market work itself out, they dropped a ton of liquidity...the stock market is only right in the sense that u will lose money waiting for it to come in agreement<BR/><BR/>was the market right when the nasdaq was at 5,000? of course it wasn't priced correctly...however, making money and being right are not the same thing<BR/><BR/>truthfully, a credit crunch is probably well deserved...u can't live like a drunken sailor and never get a hangover...of course its painful, but its a reminder not to indulge so much the next timeAnonymousnoreply@blogger.com