Homestead mailing list

[Gene GeRue <genegerue AT ruralize.com>]

On Sep 25, 2007, at 3:18 PM, Lisa K.V. Perry wrote:

> >  "The Age of Turbulence," by Alan Greenspan. He is
> > very much opposed to crop subsidies.
>
> I'm debating whether or not to read it. I still contend he had more  
> power
> than God.

He was most frustrated by politicians. He admired Ford for many  
qualities. He feels Clinton was most true to pursuing policies that  
were best for the country. He was frustrated by Bush II who insisted  
on fulfilling campaign promises though the Fed found them bad for the  
country.

It is giving me a more balanced perspective on the national economy  
and how it works. Economics was largely inscrutable to me. Happily,  
in his writing, Greenspan drops the Fed Speak.

As for how much power he had, I think it is an indication of his  
qualities that presidents of both parties gave him the job.

He found the media perception of him pretty silly. He notes the  
"briefcase indicator" where CNBC cameras followed him and showed  
whether his briefcase was slim or bulging as an indicator of whether  
the Fed was calm and untroubled or burning the midnight oil and a  
rate hike was imminent. "For the record, the briefcase indicator was  
not accurate. The fatness of my briefcase was solely a function of  
whether I had packed my lunch." (page 198)