|
|
|
|
|
|
Greenspan's Fraud: How Two Decades of His Policies Have Undermined the Global Economy
written by Ravi Batra
Studio : Palgrave Macmillan
by Palgrave Macmillan
Release Date : 2005-04-14
Publisher : Palgrave Macmillan
Released : 2005-05-09
Availability : Usually ships in 1-2 business days
Number of Items : 1
EAN : 9781403968593
Avg. Customer Rating: (based on 44 reviews)
List Price : $24.95
Our Price : $6.14
|
|
| |
|
Product Description |
|
For two decades Federal Reserve Chairman Alan Greenspan has held reign over economic policy, outlasting three presidents. His long tenure has had a profound effect on global economics and on individuals. In this hard-hitting exposé, international bestselling author Ravi Batra takes sharp aim at Greenspan's policies since he came into power. Greenomics, Batra argues, has extracted trillions of dollars from the American middle class and sharply benefited the rich, while protecting big business. Batra proves that Greenomics has also been responsible for periods of irrational exuberance, and exposes the wild inconsistencies in his social security plans. Greenspan's Fraud explores Greenspan's influences and motivations and the discrepancies between his words and actions, while revealing how his policies have national and global impact.
|
| |
|
| |
|
Probably the best way to understand today's economic problems |
|
This is probably the best book I have read on economics. The authors really simplifies macroeconomics in laymen's terms. I would recommend this to everyone who want to understand why american economy is so weak and will continue to be so unless fundamental changes happen. |
| |
|
Accurate detailed analysis of the meltdown in America |
|
Factual and detailed, this book helps people understand just what happened to cause the present downfall of our once great country. I highly recommend this book to all. I also recommend Kotlikoff's book The Generational Storm...another winner with some solid investment advice. |
| |
|
Interesting but flawed |
Batra correctly points out that Greenspan is responsible for mishandling monetary policy by continually bailing out the Wall Street investment banking houses,as well as their all to willing commercial bank accomplices following the 1999 repeal of the Glass -Steagall Act, that have been primarily responsible for converting America from an entrepreneurial-enterprise-investment economy to a speculator economy based on manipulating the financial assets and balance sheets of American corporations in order to generate paper profits without production .The result has been that 3 stock market bubbles have been created-one in the 1980's,one in the 1990's,and one in the 2000's.This last bubble is potentially the most dangerous.It has significant similarities with the Great Depression of the 1930's and the Japanese Depression of 1994-2003.
The real question then becomes how responsible was Greenspan ? Batra glosses over the fact that there are three other regulatory players involved besides the Federal Reserve System's Federal Open Market Committee(FOMC),a quasi private,quasi public agency that controls monetary policy.The other 3 regulatory agencies are the Comptroller of the Currency,the Securities and Exchange Commission(SEC),and the Federal Deposit Insurance Corporation(Federal Savings and Loans Insurance Corporation).All of these agencies have failed to enforce basic loan and creditworthiness standards and requirements.Probably the greatest blame can be assigned to the various chairmen of the SEC after Bill Casey.They have all failed egregiously by failing to protect Main Street from the Wall Street bubble makers.None of these bubbles would have had a chance to get going if Casey were still running the SEC.Greenspan can be assigned no more than 25% of the blame. Batra's other criticisms,such as Greenspan's statements on Social Security and its future prospects as the Baby Boomers retire,is not really relevant since Greenspan had no explicit policy making power in this area. |
| |
|
Predictable and boring. |
|
I could hardly get through this. There was copious academic jargon that was used to mask the true lack of understanding the author had of the everyday principles that drive everything from Wall Street to a guy selling hot dogs on the street. I chalk this mistake up to an author that has spent too much time viewing the world from his ivory tower. Don't waste your time on this like I did. |
| |
|
Failed Batra Strikes Again |
I almost feel sorry for this guy, everything he predicts has been proven wrong. Now he wants to rewrite history? It is amazing how such a 'boring' man in Greenspan is so fasinating, but for Batra to take the time to smear a man who takes home women and reads them journal articles on monetary policy to impress his date?
I picked this book up for amusement, I couldnt possible believe people here could have taken him seriously! It is a good laugh but after he discredits Greenspan for having success and not even having a PHD!!! Pure LOL |
| |
|
|
|
