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Started By
Message
"Alan Greenspan Blasts Trump's Tariffs as "Insane"" Bloomberg
Posted on 11/15/18 at 10:45 am
Posted on 11/15/18 at 10:45 am
I doubt the Trumpkins have any respect for the once Ayn Rand following Greenspan. Most don't even know who he is.
He was, arguably perhaps, the most well respected Fed chairman in history. He has seen a lot at age 92 and we should listen to his advice even today.
LINK
Trump needs a win quick on the tariffs or they will be hanging around his neck this time next year. He really can't be serious about the imposition of the tariffs he is threatening in January. I heard this week he is threatening a 25% auto tariff that even the car makers oppose.
I hope Xi gives him something at the G20 and I hope Ross and the steel guys get slapped back by Trump in the deal with Canada and Mexico. It's a shame one industry like steel can hold up such a deal. What is really scary is that Ross is so determined to protect his investments in and friends in the steel industry that he is rumored to be trying to pull a fast one on Trump by suggesting quotas instead of tariffs with the Mexicans and the Canadians. It would almost be a deal like sugar.
He was, arguably perhaps, the most well respected Fed chairman in history. He has seen a lot at age 92 and we should listen to his advice even today.
LINK
quote:
Former Federal Reserve Chairman Alan Greenspan called President Donald Trump’s tariff policies “insane” and said “why we’re doing it probably is very deep in the psyche of somebody.”
Responding to a question about China at an event at New York University on Wednesday, he said both sides lose out in such a clash.
“There are victors and there are losers in a tariff fight,” Greenspan said. “But that doesn’t say that a more important issue is both are losing, it’s just the winner loses less.”
Trump needs a win quick on the tariffs or they will be hanging around his neck this time next year. He really can't be serious about the imposition of the tariffs he is threatening in January. I heard this week he is threatening a 25% auto tariff that even the car makers oppose.
I hope Xi gives him something at the G20 and I hope Ross and the steel guys get slapped back by Trump in the deal with Canada and Mexico. It's a shame one industry like steel can hold up such a deal. What is really scary is that Ross is so determined to protect his investments in and friends in the steel industry that he is rumored to be trying to pull a fast one on Trump by suggesting quotas instead of tariffs with the Mexicans and the Canadians. It would almost be a deal like sugar.
23
Posted on 11/15/18 at 10:46 am to I B Freeman
He married Andrea Mitchell and once he did that all of his credibility went out the window.
Posted on 11/15/18 at 10:46 am to I B Freeman
He is/was a Globalist. Of course he isn't going to like anything that is America First 
Posted on 11/15/18 at 10:46 am to I B Freeman
His wife seems to be basically a socialist. That seems odd to me, at best.
Posted on 11/15/18 at 10:48 am to I B Freeman
What’s “insane” is he didn’t see the housing bubble coming.
Posted on 11/15/18 at 10:48 am to I B Freeman
Every fricking day, I want the tariffs to go away just so your pie hole will shut up and you can go back to importing lead laced shite from China.
Posted on 11/15/18 at 10:48 am to 0
quote:
What’s “insane” is he didn’t see the housing bubble coming.
Posters on here figured that one out.
Posted on 11/15/18 at 10:49 am to Y.A. Tittle
You can't read anything he has written and he has written very extensively and call him a socialist.
Posted on 11/15/18 at 10:50 am to Y.A. Tittle
"Greenspan - I was wrong about the economy."
Who else should we listen too who has such a great track record?
Who else should we listen too who has such a great track record?
Posted on 11/15/18 at 10:50 am to I B Freeman
quote:
You can't read anything he has written and he has written very extensively and call him a socialist.
I didn't say HE was one. I simply find it odd that he (a supposed adherent of Ayn Rand's philosophy) would marry one.
Posted on 11/15/18 at 10:50 am to I B Freeman
Greenspan was right about getting an Option Arm Mortgage but that's about it
Posted on 11/15/18 at 10:51 am to 0
He admitted that BUT he is also correct in that tighter money would not have really stopped the collapse because of the government policy in regards to Fannie and Freddi but it could have made the bubble smaller.
Posted on 11/15/18 at 10:51 am to I B Freeman
quote:
He was, arguably perhaps, the most well respected Fed chairman in history.
Yeah - that is very much arguable.
Posted on 11/15/18 at 10:53 am to I B Freeman
quote:
Alan Greenspan made a giant policy mistake 25 years ago that has left main street households buried in debt and stranded with a simultaneous plague of stagnant real incomes and uncompetitively high nominal wages.
quote:
Alan Greenspan was more interested in being the toast of Washington than he was in adhering to his lifelong convictions about the requisites of sound money.
quote:
It resulted in the hollowing-out of the American economy because it prevented American capitalism from adjusting to the tsunami of cheap manufactured goods coming out of China and its east Asian supply chain.
Business Insider - Greenspan was wrong 30 years ago and he is still wrong today
Posted on 11/15/18 at 10:53 am to 14&Counting
They are a tax that we will all pay
Posted on 11/15/18 at 10:54 am to I B Freeman
quote:
President Donald Trump’s tariff policies “insane” and said “why we’re doing it probably is very deep in the psyche of somebody.”
Such deep reasoning.
Not emotional at all.
A very well informed opinion.
Based on solid data.
Will meet and exceed all professional peer reviewed criticism.
Posted on 11/15/18 at 10:54 am to I B Freeman
Isn’t he the Zionist that thinks the only way grow economically was to set the Fed at 0%?
Posted on 11/15/18 at 10:55 am to I B Freeman
quote:
Ross is so determined to protect his investments in and friends in the steel industry that he is rumored to be trying to pull a fast one on Trump by suggesting quotas instead of tariffs with the Mexicans and the Canadians.
Still on that are we?
Posted on 11/15/18 at 10:55 am to I B Freeman
quote:
He was, arguably perhaps, the most well respected Fed chairman in history. He has seen a lot at age 92 and we should listen to his advice even today.
He sucked.
Posted on 11/15/18 at 10:57 am to MrLSU
quote:
It was the first time the man hailed for masterminding the world's longest postwar boom has accepted any culpability for the crisis that has engulfed the global banking system.
During a feisty exchange on Capitol Hill, he told the House oversight committee that he regretted his opposition to regulatory curbs on certain types of financial derivatives which have left banks on Wall Street and in the Square Mile facing billions of dollars worth of liabilities.
Business Today: sign up for a morning shot of financial news
Read more
"I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms," said Greenspan.
From your link.
I think what he said there is correct BUT I think the reasons the banks did not protect their shareholders was because of ignorance. They did not know how toxic the derivatives they were buying really wear. The didn't know how wrong they were about the safety of Fannie and Freddie back loan packages and how much liability they were taking when they sold or bought those loan default derivatives. It was huge. More transparency in the load default derivatives would have certainly reduced their popularity!
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