Bubble Alan at it again

Economy saved, but wouldn't the bubble just inflate again, bursting at a later date?

 

Bernanke, a known Greenspan disciple, basically said the same thing earlier this week at the FOMC meeting. Said we're so far from historical norms that we don't have to worry about overheating from keeping rates low. Guess the idea is to solve one problem at a time. Cross the inflation bridge when we get there.

 

I sold some gold coins when the spot hit 1200. Not investment levels but some of them were from 2002 and 2003. I am hoping inflation will not go out of control and the price is up because of Glenn Beck disciples.

 

Its like history is doomed to repeat itself. At least inflation will lower the debt.

 

Problem is that nobody ever wants to be the one to the air out of a bubble when things are going well. Look at the last two bubbles we've had with Tech and then Housing. The latter was especially bad since nobody wanted to be the one to "deny someone the American dream" and raising rates.

Anyways, surprising that the man who coined the expression "irrational exuberance" as the reason for the rising equity markets would believe that it's the fundamental reason behind a LT economic recovery.

 

They missed the boat on raising rates two years ago.

 

What happened to Alan's mea culpa that he had been mistaken about the ability of financial markets to regulate themselves.

It was a blow to his dearly departed boyhood mentor Ayn Rand. There are some reports that she might have even been screwing the poor young lad, but perhaps that is just my warped imagination. IIRC she was noted for screwing the members of her cult.

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An interesting book review.

Ayn Rand and the World She Made
by Anne Conover Heller
Nophoto-m-50x66
Lynn's review
rating: 4 of 5 stars
status: Read in November, 2009

I enjoyed this book. The reader is left to make their own conclusions about what made Ayn Rand tick, or what label could be put on her to explain her odd behavior. It was obvious to me she was a narcissist, but the author only used that term once and she also mentioned Albert Ellis made the same assessment. It is likely her narcissism ended up influencing her philosophy, but I don’t think every Objectivist should automatically be labeled a narcissist. The book would have been better if the author had explored her psychology a little more, but the author is a historian and not a psychologist. Anyone familiar with the narcissistic personality disorder would find the life of Ayn Rand fascinating. She was totally oblivious to the thoughts and feelings of those around her, lacking empathy for those even those closest to her. Although she was undoubtedly a genius, she always had an extreme sense of self-importance, exaggerating her own influence and achievements. She required exces...more I enjoyed this book. The reader is left to make their own conclusions about what made Ayn Rand tick, or what label could be put on her to explain her odd behavior. It was obvious to me she was a narcissist, but the author only used that term once and she also mentioned Albert Ellis made the same assessment. It is likely her narcissism ended up influencing her philosophy, but I don’t think every Objectivist should automatically be labeled a narcissist. The book would have been better if the author had explored her psychology a little more, but the author is a historian and not a psychologist. Anyone familiar with the narcissistic personality disorder would find the life of Ayn Rand fascinating. She was totally oblivious to the thoughts and feelings of those around her, lacking empathy for those even those closest to her. Although she was undoubtedly a genius, she always had an extreme sense of self-importance, exaggerating her own influence and achievements. She required excessive loyalty and created enemies of anyone who criticized her or refused to express the kind of admiration she thought she deserved. She formed a cult of loyal followers who worshipped her, and also agreed to make enemies of her enemies. She was a classic narcissist.

She is also an unbelievably driven woman and had more influence on American political thought than any woman in history. This is the world she made, not the Randian cult which still survives.

It is ironic that you will never hear a word about Ayn Rand in any Women’s Study course. If social scientists were even somewhat familiar with her personality, most of them would enjoy making her a case study in narcissism

http://www.goodreads.com/review/show/79903286

 

Inquiring minds want to know.
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Q: Was there a relationship between Ayn Rand and Alan Greenspan?
(2 answers - asked 26 months ago)
A: Just friends
They were close friends, and she had a huge influence on him. He was part of her inner circle, the Collective. He contributed writings to her work.

If you're asking if they had a sexual relationship... well, that's between the two of them. Some people have suggested it, but they're just guessing: neither of the two of them ever made a peep about it if they did. He seems to have a thing for the younger ladies (he's 20 years older than his wife, Andrea Mitchell), and Rand was a lot older than he was (by more than 20 years).

http://askville.amazon.com/SimilarQuestions.do?req=relationship-Ayn-Rand-Alan-Greenspan