Tag Archives: alan greenspan

  how stuff works

Capitalist Running Dogs Rand Paul And Alan Greenspan Will Teach You Dumb Liberals About Capitalism

Gosh, we are such dumb liberals! We thought we knew all about capitalism, an economic system most of us have lived with our entire lives. We thought we knew all about private ownership, and free markets, and the commodification of labor, and investment, and consumption, and all that jazz! And we thought we knew about the externalities like pollution and poverty and political corruption that come from capitalism, and how they are bad. So dumb! So liberal! Ugh, we disgust ourselves. Thank heavens there are men like Rand Paul and Alan Greenspan to set us straight. Open wide, dumb liberals, because here is Rand Paul on Hannity to regurgitate Economy Facts about Obamacare into your hungry gullets: Read more on Capitalist Running Dogs Rand Paul And Alan Greenspan Will Teach You Dumb Liberals About Capitalism…
  be afraid

Fancy Book-Writing Man Explains Why Zombie Ayn Rand Will Never Die

Ayn Rand Nation: The Hidden Struggle for America’s Soul, by Gary Weiss, is a good read even if you are fully, horribly aware that Rand’s fevered visions of utopian feudalist capitalism are even now being advanced as mainstream “principled” conservative economic thinking. (This would be OK if “Another French Revolution!” was the mainstream left-liberal position.) It’s good because it takes us through the looking glass to meet actual people who have been influenced by Rand — some powerful, others obscure; some true believers, others who just think that “Who Is John Galt?” is a cool thing to write on the t-shirt they wear when they’re yelling about taxes. It’s good because it’s written in a conversational voice, one that says “Between you and me, I don’t get these people either, but let’s explore them together.” It’s good because yr favorite Wonkette mommyblog is name-checked on page 108. Read more on Fancy Book-Writing Man Explains Why Zombie Ayn Rand Will Never Die…
  haaaaaaaa

Federal Reserve Thought Housing Crisis Was Funny in 2006

The transcripts for the Federal Reserve’s 2006 meetings were released this week, and with them comes the news that the people in charge thought that the housing crisis was pretty hilarious at the time, and that the biggest problem facing the economy was inflation. That is to say, that the economy was growing too damn fast! And maybe there was slight cause for concern, things that are too good to be true being not usually true and all that. Even so, Timothy Geithner, then the president of the Federal Reserve Bank of New York and now Secretary of the Treasury, thought in December 2006, mere months before the subprime mortgage crisis hit, that “the fundamentals of the expansion going forward still look good.” Read more on Federal Reserve Thought Housing Crisis Was Funny in 2006…
  Ayn Rand's Adventures In Wonderland

Economic Stimulus: Ayn Rand In The 21st Century

Ayn seems to have come full circle since our first installment. Like a snake eating its own tail, Ayn is locked in a never-ending struggle to end Socialism forever and also to forever choke on her own vomit. Read more on Economic Stimulus: Ayn Rand In The 21st Century…
  it's morning in america

Alan Greenspan Not So Gnomic, Now That We Are All Doomed

Remember when Alan Greenspan was in charge of our economies, and everyone parsed his inscrutable utterances to determine whether interest rates were going up or down, or to try to figure out if some key but obscure economic indicator was headed in the right direction? Well, now that he doesn’t have a government job to protect, he’s just up and saying all sorts of crazy things, like “The financial system is broke and I see we just stay where we are … There’s nothing out there that I can see which will alter the level of unemployment.” Read more on Alan Greenspan Not So Gnomic, Now That We Are All Doomed… Read more on Alan Greenspan Not So Gnomic, Now That We Are All Doomed…
  Ayn Rand's Adventures In Wonderland

The Ivory Tower: Ayn Rand in the 21st Century

Ayn Rand’s Present Day Adventures continue in this, Episode V! In honor of this fifth weekiversary, we offer this very special chapter, which is pretty much just like all the previous episodes — but more contemporary. Read more on The Ivory Tower: Ayn Rand in the 21st Century…
  Ayn Rand's Adventures In Wonderland

The Headfountain: Ayn Rand In the 21st Century

The third installment of Wonkette’s Ayn Rand journalism comic is here! Vomit along with Ayn, by catching up with our first and second installments … only then will you be prepared for Chapter III. Read more on The Headfountain: Ayn Rand In the 21st Century…
  Ayn Rand's Adventures In Wonderland

Future Perfect: Ayn Rand in the 21st Century

It’s the second exciting installment of our new Graphic Novel Comix Adventure, Ayn Rand’s Adventures In Wonderland. (Last week’s episode is here in case you missed it because you were too busy “Goin’ Galt.”) Read more on Future Perfect: Ayn Rand in the 21st Century…
  not in my country you don't!

Alan Greenspan, John McCain, And Lindsey Graham Become Swedish-Soviet Communists

For the past seven million hours, conservative aggregateur Matt Drudge has been blaring the main headline, “OBAMA MOVES TOWARD ‘SWEDISH MODEL’ FOR BANKS,” replete with a sacrilege photo of the profane Swedish flag. The “Swedish Model” is “code” for the evil thing the Swedish government did in the early 1990s after a major real estate and financial bubble: nationalized the biggest insolvent banks, fixed them, and put them back on the market, the end. In other words, it is basically Red Marxism and Islam combined. And now, free-market fappers Lindsey Graham, his “live-in” John McCain, and even Alan Greenspan — who caused the entire crisis, for fun — are voicing their support for Swedish Communist Revolution! Read more on Alan Greenspan, John McCain, And Lindsey Graham Become Swedish-Soviet Communists…
  hope

Innovative Saxby Chambliss Campaigns On Promise To Do Whatever Alan Greenspan Says

Here’s heavy-petting Saxby Chambliss defending himself, on the Fox News, against a Jim Martin ad that quotes Chambliss saying he doesn’t even know what the term “recession” means. We’ll cut him some slack on that, because a new person is declaring a new version of the word everyday. But what’s notable is that Chambliss defends his comment by saying that he was quoting Alan Greenspan, people. He appears still to think that this is the ’90s/early ’00s, when name-dropping Greenspan worked as a blanket defense against criticism or, more importantly, an excuse not to learn anything about economics. This caused several problems. [YouTube] Read more on Innovative Saxby Chambliss Campaigns On Promise To Do Whatever Alan Greenspan Says…
  dinguses

Alan Greenspan Admits Minor Fault To Congress!

So here are three major factors that contributed to our country’s world’s current financial misfortunes: prolonged periods of historically low interest rates (even negative real interest rates), the complete deregulation of such derivatives as credit default swaps, and encouragement from Washington that the inflated housing boom was nothing to worry about. It’s rare that you can pin so many large factors on one person, but, well, former Fed chief Alan Greenspan set the low interest rates, led the pressure on Congress to keep derivatives markets wholly deregulated, and was the voice from Washington that said everything was fine. Read more on Alan Greenspan Admits Minor Fault To Congress!…
 

Alan Greenspan: Craaaazy Economy, No?

This weekend, as our frozen credit markets and subprime space aliens took investment bank Bear Stearns — the fifth largest in the country — down, down, down into the ground, former Federal Reserve chairman Alan Greenspan wrote an article that saved the American economy. Hurrah! Regarding the moral hazard of huge companies taking inappropriate risks because the Fed will rescue their broke asses when it hits the fan (“they’re too big to fall!”), kindly old hobbit-sage Alan Greenspan offers these soothing words: who knew!? Read more on Alan Greenspan: Craaaazy Economy, No?…
 

McCain to Fix Economy With Greenspan’s Corpse

While Dipshit McGoo Thompson thinks the economy can be saved by calling it “boring,” respectable old man John McCain has an even more WALNUTS! plan to fix it: make Alan Greenspan do it. Read more on McCain to Fix Economy With Greenspan’s Corpse…
 

Old Jazzbo Hippie Claims Cheney Just Invaded Iraq For The Oil

Some little hipster clarinet player from NYU is claiming the Iraq invasion and occupation was all about securing oil supplies for America. Oh and what is that sticking out of Jazzbo Al’s tattered raincoat? A worn paperback of Ayn Rand’s “Atlas Shrugged,” which he actually first read when she was writing it, when he was screwing some gal in Rand’s “inner circle” and writing angry letters to the New York Times about how “parasites who persistently avoid either purpose or reason perish as they should.” That’s right, we’re talking about former Federal Reserve chairman Alan Greenspan! Read more on Old Jazzbo Hippie Claims Cheney Just Invaded Iraq For The Oil…
 

Daily Briefing: No Justice, No Peace

* Army General in charge of Walter Reed is fired for not supporting the troops. [WP, NYT, LAT] * Federal prosecutors fired for not supporting Republicans come back like night-zombies to haunt the Justice Department. [WP, NYT, LAT] * The second great “political showdown/media circus” of Selma, AL will be this weekend, Revs. Obama and Clinton presiding. [WP] * Yes, Condoleezza Rice’s new “counselor” is a neo-con. Yes, he also has a mustache. [WP] * Federal buildings are just like your new condo, have “workout facilities, firing ranges.” [USAT] * International markets have testicles, and they are still firmly in Alan Greenspan’s kung-fu grip. [NYT] Read more on Daily Briefing: No Justice, No Peace…
 

Wonk’d: Yglesias Don’t Play That

Bold facers display their blithe indifference to the common man in this week’s Wonk’d as Alan Greenspan laughs uproariously at the unsuspecting pawns in Borat, Bill Clinton ignores dead bodies in the street, and fey Karl Rove won’t even give a guy a courtesy nod. James Baker still keeps it real by hanging at bars – but only if they’re really classy. At least there’s always Marion Barry, who’s hip to the hot spots, and down with the cool styles. All these celebrity drinking habits, plus Grover Norquist reduced to buying last season’s irregular suits off the rack, after the jump. Read more on Wonk’d: Yglesias Don’t Play That…
 

Breaking: Fed Raises Key Interest Rate

This just in: the Federal Reserve Board just raised the federal funds rate to 5.25 percent. This is the 17th consecutive rate hike, and the rate now stands at its highest level in more than five years. Meanwhile, while Fed chair Ben Bernanke has fun raising interest rates, his predecessor Alan Greenspan has to suffer through jury duty. The full story, after the jump. Read more on Breaking: Fed Raises Key Interest Rate…
 

Ben Bernanke Tells All to the Money Honey

When he took over as Fed chair, Ben Bernanke said he hoped to provide clearer and more transparent guidance to financial markets than his predecessor, Alan Greenspan. We haven’t been impressed thus far. And now, this story: Read more on Ben Bernanke Tells All to the Money Honey…
 

Fun With Corrections: Bernanke Just as Delphic and Inscrutable as Greenspan

A correction from the Washington Post: A headline in earlier editions of this story incorrectly described the comments of Federal Reserve Chairman Ben S. Bernanke in a speech. He did not say that further Fed interest rate hikes are uncertain. He said it is unclear whether unusually low long-term interest rates mean the Fed should raise short-term interest rates more than it would otherwise. Read more on Fun With Corrections: Bernanke Just as Delphic and Inscrutable as Greenspan…