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dennyc
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Michael Hudson and Pierre Rinfret: The Myth of Alan Greenspan - Jesse - Jesse's Café

Anyone who speaks publicly like Greenspan should not be trusted. His reputation for 'brilliance' is vastly overstated. In fact, he's slightly above a moron with regards to I.Q. and his one 'gift' is that he can take a simple situation or condition and change it into something confusing or unintelligible. However, he cannot do the reverse. A true proof of brilliance or genius (Both terms I've seen connected to Greenspan) is to make a complicated situation, condition or structure understandable to all. He's like Kissinger: All words and barely any substance and I think Greenspan came across like that because he was completely unable to understand financial concepts himself so he farted out aphorisms which he believed to be brilliant and meaningful and most everyone out there who believed they had something to gain by flattering him perpetuated the myth. What I'm interested in is the amount of money people lost acting upon his advice. Another bum to be strenuously avoided. Throw a rock at him if you see him in the street. I do.

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Beginning of the headline :Althoughheisnowpassedaway, andhis internet site has beendiscontinued,economist PierreRinfretpublishedsomeratherpithy descriptions of the peoplewhomhehadknownduringhis longcareer aseconomist in the halls of power of the USgovernment. Iwasreminded ofthattoday by thevideofrom Michael Hudsonwhichisincludedat thebottom... Read More

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