Alan Greenspan: “I think whatever froth there is in the housing market is becoming contained at this stage, and it’s getting contained largely because mortgage rates have moved up and are beginning to have an impact.
So now that the dirt is coming out, that the Fed did see the evidence of the housing bubble and continued to steer the Titanic at the same speed towards the iceberg, the nature and magnitude of its error is still being underplayed.
To quote Williamss, who actually keeps track of the US economy as if it were a GAAP audited corporation: "The annual deficit is running $4-5 trillion a year , that includes the Y/Y change in the NPV of unfunded liabilities...
A majority of Americans are dissatisfied with the nation’s independent central bank, saying the U.S. Federal Reserve should either be brought under tighter political control or abolished outright, a poll shows.
The Bloomberg National Poll underli
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