Posted by: John Gilmore | September 16, 2006

Greenspan Predicts Another Crisis

It’s not hard to predict the future when you know what’s coming. Let’s take a look at a couple of Greenspan’s quotes – and once again – compare them to reality.

“The crisis will happen again but it will be different,” the former Fed chief told the BBC.

You’ve got to ask yourself – why is he making this statement? What is the reason? All we’ve heard from the Federal Reserve lately is how they’ve saved the world and that there are ‘green shoots’ everywhere – and lots of positive mainstream media articles. What is the basis for his comments? Why will it be different? As the journalist below says – we need details. Of course – there are none.

The only thing we get is this ambiguous quote:

“the unquenchable capability of human beings when confronted with long periods of prosperity to presume that that will continue.”

Greenspan is working from the same playbook as many of our politicians. What he’s saying is that a financial disaster is coming – and he’s not going to tell you why.

What is the truth? The truth is that Greenspan knows a financial disaster is coming – because he knows the Federal Reserve (and the other central banks around the world) is causing it. It’s going to be different because the next ‘crisis’ will be the collapse of the world’s economy. He’s very aware of how this monetary system works and he knows it’s going to fail. Of course, at some point in the future he’ll probably look like a genius to most of the world – when he should be locked up for the rest of his life for playing an important role in this disaster.

This is typical of our financial and political leaders – lies upon lies – vague statements upon vague statements. Everyone is saying they’re helping – while the system continues to collapse.

It seems that Bush, Bernanke, Paulson, Greenspan, Obama and many other of our leaders like to tell us lies – and then experience collective amnesia when their lies are exposed.

Let’s look at a Greenspan quote from a previous article.

Lawmakers read back quotations from recent years in which Mr. Greenspan said there’s “no evidence” home prices would collapse and “the worst may well be over”.

So – Greenspan has gone from saying that the worst is over – to telling us that financial disaster is right around the corner. Honestly, I don’t know how these guys sleep at night. Amazing.

jg – September 11, 2009
_________________________________

Greenspan predicts another crisis

Posted Sep 10 2009, 12:17 PM by Kim Peterson

MSN

Alan Greenspan had a little trouble predicting the current global financial crisis. But he’s not going to whiff that ball again. No. He’s putting the message out now: The world is headed for another financial meltdown.

“The crisis will happen again but it will be different,” the former Fed chief told the BBC. The next time, he said, the financial implosion will happen in response to a long period of prosperity. That’s because people always assume that the good times will continue to roll forever.

The source of financial crisis, he said, is “the unquenchable capability of human beings when confronted with long periods of prosperity to presume that that will continue.”

Bing: Can we blame Alan Greenspan?

OK, what? That’s like predicting that another hurricane will hit us, sometime, somewhere. We need details here. Any idea when this crisis is coming, or what’s causing it, or how we can avoid it? Not really.

Greenspan also says the current downturn was set off by the sub-prime mortgage fiasco in the U.S. But really, anything could have triggered it, he added. And the world’s banks should have seen it coming.

“The bankers knew that they were involved in an under-pricing of risk and that at some point a correction would be made,” he said.

And is Greenspan turning any of the blame on himself? Ahem. He has admitted to being “partially wrong,” but he still isn’t saying sorry.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Categories

%d bloggers like this: