Has anyone read Greenspan's new book, "The Map and The Territory?"

[rhett o rick]

Last edited Thu Nov 28, 2013, 12:04 PM - Edit history (1)

On edit: See this book review: "Greenspan’s ‘Map’ Is Clueless Trip Through Bubble Land" at link:

http://www.bloomberg.com/news/2013-10-17/greenspan-s-map-is-clueless-trip-through-bubble-land.html

“The Map and the Territory” pretends to tackle the subject of forecasting while saying next to nothing about the author’s historic failure to reduce the risks leading to the crisis, which he calls “almost universally unanticipated.”

“The Map and the Territory” is an infuriating book, one that will leave readers wondering how its author could have come all this way and yet remain so hopelessly lost.

To be honest, I've only skimmed the book, but I agree with this review. Alan, whose job was to forecast economic trends, was dumbfounded that he failed to predict and control the 2008 financial collapse. He takes no responsibility and tries to blame entitlement programs.

[2banon]

1. I haven't read it..

so I can't comment on it. Have you read it, and is a recent publication?

Title sounds somewhat conspiratorial, but that doesn't surprise me in the least.

[rhett o rick]

2. It's a very new publication. I am struggling reading it. Greenspan's main stance

that I see so far, is "how could we ever have anticipated the collapse of 2008." I am not an economist but I am familiar with pyramid schemes. And when they crash, what idiot says, "Who could ever have seen that coming?"

[2banon]

3. "how could we ever have anticipated the collapse of 2008."

I've seen this asswipe make that assertion as I was channel surfing PBS stations and there he was on Charlie-I'm just another asswipe-PR SHILL Rose-Show -- I simply could not bear to hear another word from that corrupt bastard.

Thanks for reminding me to avoid bothering to read his propaganda piece he's hawking.

[Supposn]

4. Alan Greenspan

Rhett O Rick, I haven’t yet Greenspan’s latest book but I did read his "Age of Turbulence”. Similar to most people, I have a very high regard for authorsagreeing with myself so naturally I think very well of Greenspan.

Greenspan wrote of his discomfort with being nominated and appointed chairman of the Federal Reserve Board and the conflict between laisser-fare and government regulation. I share his concern.

I strongly suspect that government regulation of the U.S. dollar’s value cannot in aggregate be superior to laissez-faire. I’m impressed with how well the Federal Reserve Board’s has done.
It’s like the story of a dog that plays the violin. We’re not amazed as to how well the dog plays; we’re simply amazed that he plays the violin. Unfortunately I don’t have sufficient confidence in any particular monetary policy. Things weren’t all that great when we were on the gold standard.

I agree what I suppose is still Greenspan's current conviction. I’m of the opinion that all people generally rationalize what we believe to be in our own best interests are to our nations’ best interests. Because USA CEOs and CFOs generally cannot depend upon long term job security and are judged by their enterprises last quarter’s performance, they are much more concerned with the quarter of their company’s next year’s rather than their next quarter of a century. Commercial interests determine political campaign funding which (in the opinions of many has excessive) affects upon our nation's economy.

In testimony to Congress, Greenspan has apologized for his prior convictions that corporations would fully and logically consider their policies long term affects upon their own enterprises and thus industries self control rather than government regulation would in aggregate be of superior economic benefit to our nation. The credit crunch, the savings and loan debacle were definitely examples of corporation’s unchecked greed.

I appreciative of his publicly changed opinion; but. I do not understand how knowledgeable people can be aware and not appreciative what is strongly implied, (f not explicitly demonstrated) by history. I suppose in the past Greenspan did not share my conviction commercial industries’ self regulation failures’ often dire harms to the public were too often explicitly demonstrated.

Respectfully, Supposn

[rhett o rick]

5. Greenspan promoted an economic theory that the capitalist

would self regulate and not kill the Goose that lays the golden egg. The capitalists loved it and have come close to killing our economy completely to satisfy their greed. Greenspan was wrong and gave a half-assed apology. It isnt his fault that our government put him in power so the capitalists could rape the middle class. Alan lives in a fantasy world and has no connection to real people. Basically he says to this day, "Who could have foreseen the collapse of the giant economic pyramid scheme we push all these years." Well Alan, anyone with half a brain could have seen.

[Fuddnik]

6. I was looking for it in the fiction section, and couldn't find it.

[rhett o rick]

7. It's in the pathetic section. "How could I have ever known that if you continue to leverage

that someday it will all crash. It must be a new phenomenon in economics." No asswipe, the "Pyramid Scheme" phenomenon has been with us for ever. And it always ends the same.