Word: greenspans
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Dates: during 2000-2009
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...principal figure was the head of the Bank of England, a fellow called Montagu Norman. He was a complete eccentric. He carried the mystique that Alan Greenspan did a few years ago. His major problem was he had a very fragile mental constitution - not a good attribute if you're a central banker - but he exerted this influence, particularly on Americans. They were just completely bowled over by him. (See pictures of the global financial crisis...
...thing about the central bankers of the time is that you read their letters to each other, and they really were very worried in a way; I don't think Greenspan was worried enough two years ago. But they had these intellectual blinders on and basically were so rigidly tied to the gold standard that they had almost given up almost all degrees of freedom. They didn't do anything but agonize...
...Bush's greatest error was in retaining Alan Greenspan, who served too long. His greatest legacy will be the security of the American people and upholding Christianity in the aftermath of 9/11. It is clear that religious terrorists now keep to their own backyards. America's bankruptcy is shown in many ways: grasping for an unorthodox presidency, effectively nationalizing the economy and cutting off its nose to spite its face. The rhetoric around Bush sounds very like what we heard about Reagan, who is now being hailed as a great President. Wikus Hanekom, STELLENBOSCH, SOUTH AFRICA...
...other person suddenly not taking risks is Obama. He hired old, experienced staffers--one of whom is so old, he was, impossibly, the Fed chairman before Alan Greenspan. It is possible that he's vetting people from Lincoln's Cabinet. Obama's economic scheme isn't to buy up vast amounts of mortgage-backed securities but to fix old roads and bridges. This is a guy who not only understood how to roll the dice in 2008 but might also have a good idea what we're going to be like for the next few years. We're probably...
...Laughs) Greenspan has also said that the tech industry was the main driver of productivity in the United States in the 1990s, so he can't have it both ways. Or maybe as an economist...