Chairman Greenspan and the FED, learn more you will be glad you did
So many people work their whole life to make money, but they know so little about out monetary system. They know so little about the Federal Reserve Bank and so very little about the brilliant minds, which make it all work. To get a better insight to the behind the scenes strategic planning and the intense thought which goes into making it all work I recommend you read a few books on the subject. Let's start on an easy one for your on-going education as an Entrepreneur; I recommend you first read:
"Quotations of Chairman Greenspan-Words from the man who can shake the world." By Larry Kahaner.
This was a great book, which studies Greenspan's early days in the private sector and his many quotes throughout his career. The book is broken into sections and can be read comfortably in one night. If you read this book you will laugh at the big words used to describe nothing and the way he answers questions with riddles, which intertwines history, politics and modern day fluctuations in markets. He often describes situations with which such disdain for politics and rhetoric with what on the surface appears to be more of the same, yet his carefully and large inventory of words appears to have a symbolic meaning and often answers more than just the question.
His comments often go unchallenged because you have to carefully review all the statements and piece it together to understand what he said and by that time it is too late to ask the next question. He appears to be doing an excellent job and having a lot of fun screwing with peoples heads who are of less intelligence. His thoughts on recessions, gold, education, transportation, communication, derivative trading, S & Ls, silver, gold, employment, Housing, small business, social security, medicare, Demographic diversity, junk bonds, sector rotations, unemployment, Debt, government spending, population, inflation, the economy at all levels and everywhere in the world are discussed. His thoughts on competition, in the free market etc. His comments of government bureaucracy and its role in business and also how companies use the government to set laws to impede competition and why this is good at times too; Interesting that a man could have so many thoughts on so many things, which seem unrelated yet are all related in a three dimensional way to everything else. I know someone just like him in fact, but only one. Few are even close to being in the same bathtub or ball park for that matter.
He talks about how things, which are seemingly unseen, affect larger issues later. He talks of consumer savings and credit card debt and taxation and rebates. Global financial markets and leading economies and how the IMFs actions can affect the common man and how free trade encourages commerce and quality of life and increased profits from those who may appear to be damaged and how efficiency which is so difficult to measure on the surface yet so obvious in the macro scheme of things.
I would say that before anyone is allowed to question Greenspan at a Senate Sub meeting ought to first read this book. This book should also be read by every local level politician and especially by the good ole boys in the South. It should be read by those who support unions and toll ways and over regulation, as those intellectually challenged folks might learn something without having to read 900 pages of Ayn Rand. Those opposed to NAFTA and in favor of bigger over the border truck restrictions. It should be required reading at all Business Colleges especially economic classes and electives. Hell it only takes on night to read anyway, why not have every one who takes a business class read it. I think all protestors of monetary policy should read this before they go and protest so they know exactly what they can really do to help. It is amazing to me that all this information is available to the public and business world and politicians yet no one gets it. After reading this book, I would have to say for the most part Greenspan is correct in his observations, assumptions and actions. Read it, think on it and I'll get back to you with another book selection.
"Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs
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