Word: greenspans
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...test the modern adage "It's the economy, stupid." This week, it just may not be. The death toll in Iraq climbs daily. Corruption investigations are metastasizing on the Hill. Politicians aspiring to higher office jockey more aggressively for broader support. And, as outgoing Federal Reserve Chairman Alan Greenspan admonished his final G-7 conference in London Friday, increasing budget deficits and unsteady trade imbalances, unchecked, may threaten the global economic livelihood in the long...
...market can benefit from outsiders' views that are reflected, in real time, in the form of prices. The dirty secret is that markets are often as good as the experts at making predictions. The next time the Federal Reserve meets to set interest rates, Wolfers says, Chairman Alan Greenspan might be better served by having the governors bet on what interest rates should be rather than go though their traditional number crunching...
...Greenspan, a dapper dresser, dated Barbara Walters before marrying Mitchell. He has been known to hit two or more functions in a night, comfortably mingling with politicians, journalists and celebrities. Nathaniel Brandon, a Beverly Hills, Calif., psychologist who with Greenspan had been in author Ayn Rand's inner circle, told TIME several years ago that while Rand liked and respected Greenspan, she also referred to him as a "social climber...
Even Central bankers charged with steering the global economy are permitted their pastimes. Greenspan loves to roam well beyond the facts for intellectual stimulation. He was deeply influenced by Rand's classic Atlas Shrugged, which helped shape his view that individuals acting in self-interest make for fair and honest markets. Although Bernanke wrote an unpublished novel in his younger days, his reading list swings to the pragmatic. He spent a recent vacation with a book about astronomy and has read volumes about Milton Friedman, whom he regards as the 20th century's greatest economist for his arguments...
...Bernanke, who as a youth developed a dice-based baseball game, loves the work of Bill James, the baseball statistician known for focusing on obscure data to evaluate talent. Both have adopted the Washington Nationals. But their deep loyalties reach beyond the Beltway--to two teams with frustrating histories. Greenspan is a New York Mets fan; Bernanke pulls for the Boston Red Sox. No doubt, more frustrations await Bernanke as he learns to mold the economy. But if he sticks to his numbers, he should do fine...