Krugman blog on Alan Greenspan - Bubble-debt Denialism

[Derechos]

For a project I’m working on, I went back to the famous 2004 speech in which Alan Greenspan not only denied that there was a national housing bubble, but denied that it was even possible to have a national housing bubble.

What I somehow never realized, however, is that the speech was actually largely devoted to pooh-poohing concerns about household debt. Here’s what was actually happening:

See rest of post here - http://krugman.blogs.nytimes.com/2011/05/30/bubble-debt-denialism/

[sendero]

1. How's that Randian horseshit..

... working out for you Alan?

At least he admitted, at one point, that his ideas were full of shit.

[Major Hogwash]

2. If Greenspan would have been an economist instead of a bag boy for Bush, the crisis wouldn't exist.

Not only did Greenspan deny that the housing bubble existed, he turned a blind eye how it was being financed.
And that was the crime of the century!!!

[lyonn]

3. The responses to Krugman's article were more

informative than the article. Or did I just get the short version? Lately I have agreed with Krugman even tho I know squat about the market. Greenspan was doing his " Greenspeak during George W's reign...... everyone would give their opinion of "what did he really say" mantra...