Five Steps to Becoming a Billionaire (Greenspan Method)
This is hysterical:
Five Simple Steps to Becoming a Billionaire: The Greenspan Method
1. Become Fed Chairman
2. Lower interest rates until you create an asset bubble. Hold them low until stagflation is in the air and a real estate bubble is floating
3. Stop being Fed Chairman and release a book on how you didn’t do anything wrong and have no regrets. If possible, time it perfectly with the worst real estate market in generations
4. Join the hedge fund which has profited more in % and dollar terms than anyone else has from your mess (which you didn’t create)
5. Build a platinum statue of your muse, Ayn Rand, and sleep with it every night
It also helps if you are mostly unethical.
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Source:
Five Steps to Becoming a Billionaire (Greenspan Method)
Johnny Debacle
Long or Short Capital, 01/15/08 3:35 PM
http://longorshortcapital.com/five-simple-steps-to-becoming-a-billionaire-the-greenspan-method.htm
Thursday, January 17, 2008 | 04:00 AM | Permalink
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Comments
4 AM? Color me impressed.
Greenspan needs to just go away. At least, Big Media should stop disseminating his every utterance.
Posted by: CaptiousNut | Jan 17, 2008 6:42:25 AM
Oh,.... Take the world off your shoulders.........
It's called being Amoral.... not unethical.
That is funny as hell.
Long volker.
Posted by: Eric Davis | Jan 17, 2008 6:45:11 AM
A Capitalistic economy without a recession has no invisible-hand mechanism whereby to scold misbehavior.
Posted by: Justin | Jan 17, 2008 6:45:37 AM
Hey Captiousnut,
I loved that they were word parsing Volcker yesterday, it was like an Homage to Greenspan.
Of course, trying to convince us that Volcker would be more dovish with inflation.
(I keep misspelling volcker.. sorry all)
Posted by: Eric Davis | Jan 17, 2008 6:52:14 AM
Volcker has joined the public contest.
http://www.usatoday.com/money/economy/2008-01-16-volcker-nytm_N.htm?loc=interstitialskip
As much as I'm convinced Greenspan is a serial
bubble blower, I don't like to see public figures continually fire on the FED. Bernanke is getting really smeared along with Greenspan.
So how does this work, if everyone looses faith in the FED, what happens next??????
The only thing I can see is the dollar crashing (what we've seen so far is nothing), all of our dictator friends unload the dollar (they hold trillions with a t), the price of oil climbs to the sky and things are really nasty.
Posted by: Human Observations | Jan 17, 2008 6:53:31 AM
Volcker killed inflation and 4 million jobs ...... long live Paul , hope Ben can cause 4,000,000 unemployed without losing his popular standing
Posted by: B1 | Jan 17, 2008 8:21:47 AM
The Weak money policy has worked great for Japan, maybe they can start paying people to take money.... maybe that will work for us....
Posted by: Eric Davis | Jan 17, 2008 8:41:05 AM
The only way for someone to recognize mistakes, is when she can blame someone. This is the case for economists: the big mistakes of a theory that assumes that environment is inexhaustible and that economic system is totally independent from Nature can not be denied. Without someone to blame, economists will continue with these horrible mistakes, until humankind got extinct.
Cheers,
Hugo
Posted by: Hugo Penteado | Jan 17, 2008 9:22:20 AM
lol I particularly like the part about the platinum statue. Well said!
Posted by: twistytop | Jan 17, 2008 10:18:46 AM
Amen Reverend!
Greenspan is a fraud, and his Revisionist History Book Tour is yet more evidence. His new gig cements it.
I particularly enjoyed his CNBC interview a few months ago with the one and only Maria Bartiromo. She slyly asked him how he would respond to his "critics". By "critics" I can only assume she meant "those who rightfully pointed out how he greased the wheels for the biggest housing bubble in, you know, history, while simultaneously acting as Wall Street's bitch."
Posted by: Peter Davis | Jan 17, 2008 11:13:07 AM
lololololololololololololo
As Homer says, "funny cause it's true".
Posted by: LP | Jan 17, 2008 5:14:14 PM
