Quote:
Originally Posted by jyl
Greenspan is the dominant figure in the US economy for the past two decades. He has more knowledge and experience, both at the highest levels of politics and economics, as well as down in the detailed data, than anyone - period. He did a pretty good job of being apolitical, not perfect but of all the major Washington figures he is the least political by miles. He made some mistakes as Fed Chairman, potentially some serious ones, because he is not omniscent. But I certainly think his book is worth reading, and I'd trust the truthfulness of the statements in his memoir about 100X more than I'd trust the denials of any elected politician.
I suspect very few who are writing in this thread will actually read Greenspan's book.
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The Federal Reserve virtually elects the politicians and our government is in the pocket of the Fed. There is little basis for your trust of a sitting or former Fed Chairman. They derive their power from the ill-conceived Federal Reserve Act of 1913. The People have paid the price ever since.