| ||I CANNOT WAIT TO GET MY HANDS ON THIS BOOK|
Alan Greenspan was the chairman of the Federal Reserve Board, the organization that controls monetary policy. He was the one who said how much money the U.S. could print (inflation controls) or how low the interest rates could go (economic stimulus). He was the most important person in the world's economy for an entire generation, and therefore, arguably, the most important person in the world in many ways.
My personal opinion is that we have to wait for history to judge how well he did his job. On one hand, he guided a long economic expansion, but on the other hand - his liberal lending policies created a culture of cheap money that is being seen as the culprit for today's housing crisis and credit crunch.
What is gloomy is that this expert - the most knowledgable person in the world about the economy - the person who for 18 years had his hand on the lever balancing inflation vs. stimulus - is saying about the future of the U.S. economy. When asked on 60 minutes if he was keeping his cash investments in U.S. soil, he evasively uttered the words, "I would diversify".
With the U.S. having unprecedented problems finding customers for our treasury instruments, and with the strength of the dollar plummeting (it is nearly on par with the Canadian dollar now) and with Gold hitting record highs ($712/oz of Bullion, if you listened to me you would've owned the absolute best investment in the last year). Greenspan says both interest rates and inflation are going to take off to new heights, this sounds like a disaster to the economy and especially real estate, but a huge opportunity for Gold. It's 544 pages - I cannot WAIT to read what he's about to say. CLICK HERE TO BUY IT ON AMAZON!
| ||Posted 9/18/2007 12:22 AM - 1208 Views - 6 eProps - 4 comments|
Give eProps or Post a Comment