Wait a minute… did I just miss the bottom?
August 4, 2009According to Alan Greenspan in a recent Bloomberg article, the bottom may have already hit… back in mid-July. That’s for economic indicators (such as industrial production), not necessarily housing. But Greenspan also commented that housing appears to be “stabilizing”. The article represents another feather in the cap for a growing number of positively-spun media.
While we are seeing a lot of hopeful signs out there, it just doesn’t feel like we’re completely out of the woods yet. In any case, Greenspan has some good commentary on the economy, housing market, and predictions.
The article we’re citing is available HERE and is a good (and quick) read.
Greenspan - Detailing his recent experience with Viagra.
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Lot’s of people actually hold Greenspan accountable for the mess so not so sure I’d be quick to take his view. That said, it’s a good time to be a buyer relative to the past 3-4 years. It may not be the best time to be a buyer versus the next 3-4 years but at least you are not competing in bidding wars and driving up your own price!
Oh God, my article doesn’t make me look like I adopt Greenspan’s view, does it? Maybe I should’ve picked a different “positive” article to post. But then, I wouldn’t have been able to have fun mocking him with that caption :)
Also, an interesting piece on Fresh Air today. Interview of Wall Street Jnl economics editor David Wessel on his new book, “In Fed We Trust: Ben Bernanke’s War on the Great Panic.” He argues that Bernanke (and Paulsen) really did the right thing by acting aggressively during the credit freeze and that things could have gone the way of the Great Depression if they hadn’t, Here’s the link to the podcast: http://www.npr.org/templates/story/story.php?storyId=13
Thanks for the link. I’ll definitely check it out.
That was a great podcast, Misha. Have you seen this vid?
http://spedr.com/1b99b
It’s a little cheesy, and you have to give it about 10 mins, but then it gets really interesting. It (very simply) shows how private banks control society by creating money as debt rather than money as value. Would love to hear what you think.