A couple of months ago I read Greenspan’s autobiography, The Age of Turbulence. Today, I reviewed his thoughts as the dot com bubble was unfolding. At one time Greenspan writes he is worried about a bubble and then a few pages later the maestro says he does not think a bubble is occurring. In other words, Greenspan does not accurately recall what he was thinking, or he wants it both ways. I’ll finish my review tomorrow.
“On March 30, 1999, the Wall Street Journal’s front page headline blasted the good news across the world: “Dow Industrials Top 10,000” The day before, the all-important US stock index, the Dow Jones Industrial Average, closed above 10,000 for the first time in history. It was a major milestone, and investors cheered. A few investors, however, were concerned. They felt that US stocks were too expensive, and the entire market was in a dangerous bubble. But the Wall Street Journal answered those naysayers, as the headline of the second article on the front page ominously read: “If this is a bubble, it sure is hard to pop.” They were right.”
Source: US stocks are now the most overpriced since the 2000 crash. – Sovereign Man
Obama’s real legacy the MSM won’t talk about.
Source: Obama Bequeaths a More Dangerous World – Consortiumnews