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alan greenspan defends himself
some say that due to greenspan's keeping interest rates too low for too long, that he paved the way for or even caused the current economic crisis facing the real estate market (which in turn directly affects the overall economy). he also stands accused of not having done more to prevent sub-prime lending, which in turn leads (and has led) to a record number of foreclosures as well as falling housing prices, and the so-called "bursting of the housing bubble". greenspan defends himself against these accusations and more in the opening segment of the 60 minute interview with lesley stahl (aired 9/16/2007)
btw- i know little to nothing about economics and lending practices. if i am stating something incorrectly above, please feel free to kindly point it out to me, and i will make a correction (when i can finally make the time). thank you.
Length: 296
Rating: 4.50 (57 ratings)
Tags: greenspan housing bubble burst foreclosure loan default sub-prime lending federal reserve low interest rate
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C.H.A.N.G.E confronts Alan Greenspan
wearechange.org
infowars.com
We Are Change and Infowars confront former Fed chairman Alan Greenspan during a recent book signing event. Greenspan is called out for his traitorous bad-mouthing of the dollar and his crimes against working and middle class Americans.
Length: 381
Rating: 4.70 (685 ratings)
Tags: infowars ala greenspan money stock market dallort died bad
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Alan Greenspan with Jon Stewart
PLEASE RATE THE VIDEO
Alan Greenspan with Jon Stewart dated 2007-09-18.
Basically Jon taking Alan to task about the Fed. Interesting part is when Alan mentioned Gold and its relevance to a stable money system, and also the fact that a Central Bank implies a regulated system. Funny part is when Jon compared those who invest in the stock as gamblers and that hard working men are not being rewarded fairly. Jon hit it on the head there.
You can find the Alan Greenspan article here:
http://www.constitution.org/mon/greenspan_gold.htm
Enjoy
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Erratum
Typing error: AG's article was not written in 1996 but 1966.
Length: 205
Rating: 4.90 (98 ratings)
Tags: Alan Greenspan Gold Fiat Silver Fed Central Bank Inflation Free Regulated Market
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Greenspan slammed on US free trade policies
Senator Donald Riegle spares no punches complaining to Alan Greenspan about persistent trade deficts with Japan. This took place back in 1992 ...and trade deficits with Japan have worsened since that time.
Since this video aired 15 years ago, the annual trade deficit with Japan has almost doubled to over $7 billion/month ($88 billion for all of 2006).
Since this video aired 15 years ago, the total annual trade deficit (for all nations the U.S. trades with) is almost 12 times worse (from $70 billion for all of 1993 to $817 billion for all of 2006).
According to the BBC, the U.S. borrowed $2 billion daily in 2006 to finance its trade deficit. This is lunacy and there is no justification for it and it must stop (or it will stop when foreign governments and banks stop financing our trade deficits) before the U.S. goes bankrupt.
Federal Reserve Chairmen Greenspan, Bernanke and others have all publicly stated that our trade deficit is unsustainable. End of argument. Those who defend economic policies that require the U.S. to borrow $2 billion/daily to finance trade live in a fantasy land or have an agenda not aligned with the interests of the USA.
We have $6 trillion (and growing at almost $1 trillion/year) in accumulated debt from U.S. trade and economic policy. Watch these videos. Have you wondered why it gets worse nearly every year for the past 25 years and nothing is ever done about it? Watch these videos.
Hopefully this subject will come up for Hillary Clinton, Barack Obama, and John McCain to debate during the presidential race?
Charts:
US Trade Deficits 1987-2006 -
http://barrysacks4.com/us_trade_deficits_chart4_big.jpg
Articles:
Losing Our Independence:
http://barrysacks5.com/losing_our_independence.htm
Free Trade: Profits Over People -
http://barrysacks5.com/big_media_and_free_trade.htm
The Market Oracle: Unsustainable Trade Deficit Means Doomsday for the Greenback -
http://www.marketoracle.co.uk/Article747.html
NYTimes Opinion: Double Bubble Trouble by CEO Morgan Stanley-Asia, Stephen Roach -
http://www.nytimes.com/2008/03/05/opinion/05roach.html
BusinessWeek: Multinationals-Are They Good for America? -
http://www.businessweek.com/magazine/content/08_10/b4074041212646.htm
Commentary: That Giant Sucking Sound -
http://barrysacks5.com/meltdown.htm
AFP/Yahoo: US trade gap balloons 9.3 percent -
http://news.yahoo.com/s/afp/20080111/ts_afp/useconomytrade;_ylt=Aj_LZQl3V5SZxyfQf4bKsb4DW7oF
AP/Toronto Star: For the first time, US also fails to record surplus in investment income -
http://www.thestar.com/Business/article/192008
AFP: Trade deficit not sustainable -
http://afp.google.com/article/ALeqM5iwKkYV9sI4WfN4XqgOwMQTo8Jicw
BBC: US borrows $2 billion/day to finance trade -
http://news.bbc.co.uk/2/hi/business/6450565.stm
BBC: Trade drag on US economy -
http://news.bbc.co.uk/2/hi/business/4955092.stm
Trade deficits 1987-2007 (U.S. Census Bureau, Foreign Trade Division) -
http://www.census.gov/foreign-trade/balance/c0015.html
Video clip used under Title 17 U.S.C. Section 107 "Fair Use" for editorial and commentary
Length: 599
Rating: 4.80 (29 ratings)
Tags: economics japan trade deficit greenspan riegle automobile industry cars ford chrysler gm debt edwards clinton obama
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Greenspan supports Goldstandard on Fox Business
Ben Steil of the Council on Foreign Relations wrote his piece "end of national currencies" in which he endorses a digital (smartcard, implantable chip) gold currency, Alan Greenspan seems to join the team of Goldbugs with his open anti-fed confessions!
OUT OF THE ASHES OF THE CURRENT PAPERMONEY, THE PHOENIX WORLDCURRENCY RISIS...like in the economist article of 1988: http://www.goldseitenforum.de/thread.php?postid=196896#post196896
http://www.321gold.com/fed/greenspan/1966.html
http://www.foreignaffairs.org/20070501faessay86308/benn-steil/the-end-of-national-currency.html
Length: 111
Rating: 4.90 (47 ratings)
Tags: austrian economics gold cfr ron paul fox business
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PBS NewsHour 20070918 Greenspan 1 1of2
Alan Greenspan is interviewed by Jim Lehrer on the his role in the housing bubble, the subprime mortgage meltdown, George W. Bush's tax cuts, and the role of the Fed and the Fed Chairman. Greenspan says unequivocally "We had a bubble in housing" (2:23). He explains his Fed policy of sharply lower interest rates by worldwide economic and social forces, but does not mention their reduction immediately following the burst of the dot-com bubble. Inconsistently, Greenspan says here that he and the Fed tried in 2004 to raise interest rates to put a clamp on the housing boom (4:21), yet in other recent interviews he says "I really didn't get it until very late in 2005 and 2006." [First of a two part interview, 1of2]
Length: 559
Rating: 3.90 (9 ratings)
Tags: housing bubble home prices subprime mortgage economy boom bust greenspan Fed interest rates
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