10 January, 2014
The Map and the Territory by Alan Greenspan
I couldn't finish this book, as almost every single paragraph made my blood boil. I believe there were many economists who predicted the collapses of the NASDAQ and housing bubbles and the recessions that would follow them. So what does a banker, i.e. Greenspan, who dismissed their warnings have to say about economic forecasting? Nothing worthwhile as what the damage this clown did to the global economy is nothing to be compared to what his successors are building to. I think,in a year or two, the effects of QE-Infinity will inevitably come to an end while P/E ratios reach their highest level in history and then the entire house of cards will collapse. When that happens Janet will increase the QE amount but this time traders will not regain confidence. I suspect we might end up with a recession bigger and longer than the last one.
Labels:
ECONOMICS/FINANCE,
KINDLE
