Tuesday, February 5, 2013

New Greenspan Book Coming

A new book from Alan Greenspan is set to be published on October 22. It's titled The Map and the Territory: Risk, Human Nature and the Future of the World Economy.

Sounds like in the book Greenspan will act as an apologist for the failures of government economists to understand the economy.

WSJ reports:
 In an interview last week, Mr. Greenspan said that he hopes the book will help readers "understand and sympathize with those making key economic decisions in the public arena. It's a tough job. We can't see over the horizon, but since we live in the future, we have no choice but to try to make forecasting judgments."
In other words, don't expect Greenspan to spend much time in the book discussing the failures of the Fed  or the fact that Austrian economists warned about the very crises that government economists failed to see.

5 comments:

  1. He's such an arrogant prick. Although he's not saying it, any reasonable person could read between the lines and see that we should not have a central bank.

    Anyone who buys the book without the intention of demonstrating that Greenspan belongs in a garbage can, automatically loses more IQ points.

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  2. If it's so tough and they can't see over the horizon then why do we need them to have such a critical role in the economy in the first place?

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  3. Central bankers are not able to do the job that the people want them to do, but yet they don't want to admit they are incompetent. Instead they keep assuming they know what they are doing and they mess up everything. Now they ask the people to understand and sympathize them. They should not take up the job in the first place. And the people should realize that we can only give them one mandate, i.e. to maintain the value of the currency and nothing else. And the Fed should be owned by the people, not commercial bankers.

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  4. "It's a tough job. We can't see over the horizon, but since we live in the future, we have no choice but to try to make forecasting judgments."

    This is a good quote, if it were applied to entreprenuers and not state officials.

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  5. They write books now, Greenspan, Geithner, to add an air of profundity to their cash-in-chips balderdash.

    Art

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