32 Burst results for "Alan Greenspan"

"alan greenspan" Discussed on Impact Theory with Tom Bilyeu

Impact Theory with Tom Bilyeu

05:09 min | 10 months ago

"alan greenspan" Discussed on Impact Theory with Tom Bilyeu

"This is you paraphrasing. alan greenspan That sets us up then for her quote. So alan greenspan again this is a paraphrase a sound store. Value must be made illegal otherwise fiat currency would not be competitive. So you've got this idea of so a sound store of money you talked about you. Drop that coin but basically that it's the amount of it is fixed in flexible supply. Okay so that's sound now. This is your quote. Which i love and i think sets us up for understanding. Why the bitcoin guy who has bitcoin tattooed on the inside his arm like too painful place to get a tattoo says this this entire system we've built is a complex of unintended consequences and bitcoin is an immune response from the collective economy. So if we buy into the idea that they didn't have bad intentions to create the central bank. They don't have bad intentions to make the printer goldberg. They just like they're trying to. They're trying to policy their way to something. That's far more stable. Which actually get. And when i put like my. They don't have bad intentions had on. I'm like word. Like i get what they're trying to do. The and i'm grateful that i've grown up in a super stable environments where i was able to go from you know sort of lower middle-class to generating real wealth of my life so for me it worked right. I was able to jump class. Like all the things that i was promised with the american dream of actually able to do and so i'm like yo that stabilities amazing I didn't ever have to Use weapons to build my company which is a whole side thing that i've talked about before where i had former drug dealers working from long story. There's a whole reason why. I think it's amazing to give people second chance. So anyway they were telling me stories of people trying to confiscate their product right. Which for me would have been protein bars so it was like wow the thought of somebody showing a shotguns to take my protein was like that's crazy. That's a hard way to jaren. So it's like okay. This is all worked for me. I like this. So i have that hat on a mike. I get what they're at least trying to do. But when you try to engineer a system whoa like the number of things that go wrong where you can change whether it's ecological and you're trying to do something and it. Has you know ten different knock on effects or whether it's with money and as different knock on effects Why though his bitcoin the immune response yes It's funny rather lana don't rarely you. I heard you say it or a written it or not..

alan greenspan goldberg jaren lana
"alan greenspan" Discussed on Lights Camera Barstool

Lights Camera Barstool

01:58 min | 1 year ago

"alan greenspan" Discussed on Lights Camera Barstool

"They said fifty a bump it up to fifty no even fifth. let's butter. I'm gonna butterfly this lot of potential. My name's going to be on cream span. How the next movie we're going to review is going to be old by the way great. Kim was not good. Which i i regret. The plot summary to ivan washy read the plot summary. I'm not shocked by that at all. M night is become a big time plot summary director for me as well. Yeah and i needed to know needed to know what he did. Also like. i'm not gonna put it all on him night. I'm circling back around. And i i'm going to. I'm going to say what allen a. M night i wanted alan greenspan would m night did in the early. Two thousand still is pretty legendary. But i'm also not going to let it tarnished my review of old which doesn't look good. It's you're not gonna enjoy it. I really really did like it. Really did like it. Ready to watch pig. Oh pigs fucking a pig is so so of the uric again not illegal gave me a wok in for walks greater also after that jungle groovy. We gotta rock movie coming up. He did a cheat meal from from disneyland videos of him and blunt doing like the walkup auto tonight. Apm live on instagram dogs talk. What what is the premier. No the rock is going to eat. A bunch of disney. Snacks from disneyland is cheap dave. So he's gonna they're gonna be it's gonna be films like so we can't even escape it and yeah yeah. He does the classic third over the shoulder. Yeah every time. He turns the camera to show something off. He turns back around. The foods is gone like oh that was delicious door..

ivan alan greenspan Kim allen disney dave
"alan greenspan" Discussed on Lights Camera Barstool

Lights Camera Barstool

02:10 min | 1 year ago

"alan greenspan" Discussed on Lights Camera Barstool

"And you just would be like a is. Is this chase jason bourne. Gi joe how what do you call it jeff. Just post from the on. The main account matt leblanc in a nazi uniform as gi. Joey okay okay. I'm sorry you can't. You can't talk about extreme ways and then not have me circle back to the woodstock ninety nine documentary. Where so much moby was there. Moby was like the only person so when you had a gentleman's more sentence show crow. But what i mean like moby got the most screen time out of all the performers there and he was making some good points about it but then they got footage of him actually there and he was complaining about how his name wasn't on a poster board for welcoming. The harshness seems very mobile. Yeah but could you imagine being with stock ninety nine and hearing extreme ways and this song is not going to be an aboard. Move to the books away. They get like you turn over your friends. I'd hate to see. This implemented a movie starring matt damon about jason bourne trilogy directed by alan greenspan. But say when you panned out at woodstock alan greenspan is in the corner and heard the song and that was the rest is history. Yeah exactly grafted direct. The first movie buddy he's blasting mobile just in the interest rate. I'm going to the monetary supply do back again extreme inflation unit. Oh no no no. No stakes fit dossier. I love how. You didn't have a rift because you like the rest of humanity doesn't have a good alan greenspan impression. I honestly i can tell you for a fact. I've never heard the man speak in my life. I was forget I mean he was. He was chair the fed for like thirteen years. You always kind of there. And then i could not remember when he mary married to an idiot..

moby jason bourne matt leblanc Gi joe alan greenspan Joey jeff matt damon fed mary
Why Is the Fed so Boring?

The Indicator from Planet Money

02:09 min | 1 year ago

Why Is the Fed so Boring?

"If we were grading on a curve these extremely boring and wooden speeches given by federal reserve chairs these actually represent shocking level of sharing and openness. This is according to sebastian mallaby author of the man who knew the life and times of alan greenspan if you go back to the early one thousand nine hundred eighty s. The central bankers almost didn't communicate at all with the markets and with the public. They were changing rates. They wouldn't even tell people there. Yeah there was near press conference. There was no announcement behind. close aide. they just did it and then over time bit by bit. The fed began to communicate. More specimens says that it was a major economic crisis that ultimately coached the fed down from it's fortress of secrets namely the housing crisis. Two thousand and eight so at that time banks and markets were collapsing and federal reserve chair. Ben banenky saw that he could speak out and actively reassure markets stabilize them almost immediately by announcing and explaining policies and actions federal reserve was taking. Its super tempting. For central bankers to exercise the awesome power. They have when they do communicate with the market. And there are amendments when the economy is really in the dumps and the need to stimulate it but of course there are two sides to the open communication coin derian case in point the taper tantrum. The tape attention. It happened in two thousand thirteen years. After the worst of the housing crisis was the economy is growing. Jobs are coming back all of the money that the fed has been pumping into the economy for years. That have worked. Things were stable but then fed chair. Ben banenky he said something that rocked global markets. Here the wiz that roiled the globe if we see continued improvement and we have confidence. That is Going to be sustained and we are convinced that that is sustainable. We will respond to

FED Sebastian Mallaby Ben Banenky Alan Greenspan Derian
"alan greenspan" Discussed on Newsradio 970 WFLA

Newsradio 970 WFLA

03:20 min | 1 year ago

"alan greenspan" Discussed on Newsradio 970 WFLA

"Location that's convenient to you, or virtually Alan Greenspan retired as chairman of the Federal Reserve back in 2000 and six But those of us that are concerned about our bottom line. Continue to appreciate this guys. Insight doesn't matter his age. He knows a lot and considering all of the challenges Americans are facing today. CNN asked Greenspan how long he believes it will take our economy to recover. Well, you should bring the virus under control and keep it that way. It is perfectly probable are those who are forecasting there will be back to normal by the spring. It's not earlier, but I would not consider them most life where he tries. In a situation like this your orders after sir. What could go wrong to make your part of the solution here is gonna be to get us back to where we were. And that could take a long time. So the spring or a long time. I mean, even economic Gruber's don't know what to say. Yours who have obviously been around for a long time. Let's start so he's seen me. But listen, he knows this stuff. Yes, he does. In a lot of ways that Xena smart guy, but just personal experience, right? He's seen things go up and down. So I think listening to him and since all the other things they've put out, even he's confused by this whole movie thing and the reaction to it and combined covert with election year. As we wrap up today's show, Kristen, we know because we get the calls every week. We're watching the same news that our listeners air are watching. We're watching the same markets that our listeners were washing in. Her clients are watching. There's a lot of concern is that a reason to be concerned, there's a lot of volatility. A lot of things are gonna change in 2021. We don't know exactly what they're going to be. But what I do know is we need to be ready for when you prepared for it. You know, I think I have just being sort of, you know, like limber, right, flexible. The hang in their approach. What I know about that is hanging there eventually will work for you, because if we get a big crash at some point, eventually, markets will come back. That's true when advisers tell people that But the people that I work with they're retired or very close to it. They're not looking for the hanging their approach anymore because they don't have the time to recover right And they're not putting money into accounts anymore. They're doing the obvious that they're taking institutions. So we're helping people make that transition from the accumulation face and working into the distribution face and pulling money out of your accounts and help you have that money last the rest of your life. Should maintain your standard of living, adjusted for inflation and taxes, moving forward and if I could simplify it, It's just that, Kristen so we're inviting people to come in. Sit down with us. See if we can, you know Provide some help. Provide some assistance at any value to your situation. If you believe we do. You're welcome to hire us. If not, at least you're gonna walk out of her office with an analysis of your current plan, understanding of how to get more efficient but also a written financial plan. 8135500707. If you can hear us on the radio, there is a talent, wealth management location near you. Sit down and have them do that. See FP one on 181355007078135500707. If you're more comfortable taking.

Alan Greenspan Kristen chairman of the Federal Reserv CNN Gruber Xena limber
"alan greenspan" Discussed on KTAR 92.3FM

KTAR 92.3FM

06:29 min | 2 years ago

"alan greenspan" Discussed on KTAR 92.3FM

"You know, in the news of hospitals that have That have what they say is a cure. Well, I know amazing. Eso hospital have what they say is a cure. They've got many vaccines that show a lot of promise. You know, Dr Fallacy is they're saying yeah. Look, the fact the vaccine is going to come out, but it's never going to be a ce effective is the mask. You know what? I don't know The American people. How much do they care? Because what we're seeing is is that people are getting out anyway. Oh, they're definitely going back to work because they're going to restaurants. They're going back to work. Yeah, and and being local. Here in Arizona. We see that the traffic is picking up. I get stuck in traffic every once in a while again. You ever been so happy to get stuck in traffic? I drive to work at 5 A.m. and I get second traffic. That's usually a time that traffic should be there. That's that is that's significant. I like that. It's it's upsetting, but we're seeing it in school to know what we're seeing that and we've got big classrooms and we assure people that if they come into our classrooms, we're going to give them social distance. We can. You know we've got the ability and we do follow the regulations given by the townships. Everybody can protect themselves now with a mask and you know what They should. That's you know, they should have Well, there's actually a big debate over this, whether we anybody can force anybody else to wear a mask. You know what? I don't care. Here's the thing. People are getting more comfortable with this. We're seeing people in the classrooms were learning how to deal with the You know with what we've got, and that's what we're living in the new world. This is this is kind of what's happening is the new world were coming into if this is what the state and the local governments requiring This is what we're gonna have to do, And that's OK, That's that's exactly right. But the point is, is that if stimulus comes, we're going to probably see a surge in the market. That's good for the day. Traders may be good for you know for for the wealth as well as long as it sticks around. But ultimately we have to understand that when we print more money, it's a double edged sword. You can't print money without expecting to pay for it someday. And typically, the way we pay for it is inflation. Now I know you know, There's been a lot of talk about inflation. But I think it's significant that Alan Greenspan, who is not by the way that you know the Federal Reserve chair but used to be And he's written several articles lately he is scared about the inflation for the future. And I think we all should be. All right. I really do. Like I said, I am concentrated. It's it's I bought this place to help people become Become more confident than their financial future and part of that is their retirement. Well, inflation affects retirement more than it does almost anything else. Yeah, it definitely does. And those retirement accounts if we're having a large amount of inflation, But we aren't having Enough move in the market to make up for that, and more people who are up to the age of 50 65 wherever that are looking at the retirement accounts, maybe getting kind of fearful right now, and they should they really should, Okay, because what they've planned on is that planned on a certain amount of inflation, and if all of a sudden we're seeing seventies style inflation And they've planned about 40% to low. Yeah, well, that's that's a lot. That is. That's a lot, you know. Right now you can use the 4% rule, and that's that's the way most you know. Retirement. Financial planners would look at it. Use the 4% rule and let me just break it down for you real fast. Basically what it is is for every $10,000 you wish to spend every year of your retirement. You need to save or have invested $250,000. Okay. A quarter million for every 10,000 that you want to spend every year s so what That means is, if you want to spend, let's say $50,000 a year in retirement, and that's your comfort level. Well, I need one point 2,000,001 1.0.251 point 25. That's exactly right. OK, If you want to retire at 100,000, then it's got to be 2.5. But if you wanted to retire at 50,000, but now we've got a 40% inflation rate. Over a very short time frame. Then you have planned 40% too low. And if you're not making any money on that money, it's just sitting there and you're pulling from it. That's that's a real problem. Yeah, well, and so what we have is we've got people that are retired right now that planned for a certain comfort level. But it's mostly in the bonds and things like that. And so, for all intents and purposes, this is a set amount of money that they have every year. And all of a sudden if we have that kind of inflation, they're going to find that now they're starting to scrape and scrimp right? They they might not have enough to make that last. And that's a real problem. You know, this is this is one of the things that we need to prepare for. We need to over prepare if we've got that kind of threat in the future, and that is one of the reasons that we developed this class s so that people could see those kind of issues. They're still you know, there still might be a way around it. There are strategies that we teach. And maybe that's right for you. So here's what I'm saying. I think everybody should take this class. I've made a complementary because because I think that this is information that we need to get out and I can't use. I can't you know, teach enough here in the 40 minutes that we've got. I can't teach those strategies. There's just too much to them. So come out to the class again. Give us a call and reserve your seat. It's 84 48 Trader. That's 84487 23 37, or text O T. A 231996. All right. When you come to our class, remember? To ask for your kindle. We have a limited supply of these kindle fires that were going to give out to the first. I think we've got 22 of them while supplies last if you come in, and you're one of the first ones to come into one of these classes and asked for the candle, but you have to listen. Arizona's new station station are on air 92 3 FM online at dot com and streaming Live on the GR NU Zap your Breaking News and Traffic..

Arizona Eso hospital Alan Greenspan Federal Reserve
"alan greenspan" Discussed on KLBJ 590AM

KLBJ 590AM

02:00 min | 2 years ago

"alan greenspan" Discussed on KLBJ 590AM

"Richard, you are on the air. How may I help? Yes, I have. I'm very comfortable. I have two trips of my money and triple insure bones 3/5 and cash and CDs and my income is plenty. Can I, maybe five, so I just keep getting short term CD. I don't want to take any chances. Well, it looks like just Things have changed so much with see with the outlook for the rates that Dr CDs so back years ago when Alan Greenspan was the head of the Fed, he liked to keep everybody guessing about the general direction of the interest rates. But now with Chairman Powell and some of his predecessors, he's very clear that he's going to keep interest rates close to zero into 2022. So it's certainly for someone has plenty of income. There's no reason to extend a mature ease of CDs. You know, I'm not. No, you're not going to do this. But if somebody bought themselves a four years CD and then race started tick upward in 2022 they would be they'd be locked in. And so I think, since you have enough income, you don't need to extend the maturity. And the outlook is at rates. I mean, 10 year Treasury notes, or price to yield about 0.7% 2 year know its price feel about 0.20 present. Money market funds are starting to the expenses to runem are starting to exceed the interest that they that they aren't so we're in a period of extremely low rates. And it appears that we're going to stay that way. The rest of this year and next year is well so I think given what you told me, I do exactly what you're doing. I'd stay with the short maturity is if I were you, Richard. Thank you. Okay. You're welcome. Thanks for calling. You listen to money. Talk on NewsRadio. Okay, LBJ Caller. Text 51283605.

Richard Chairman Powell Alan Greenspan Fed Dr
Monetary & Political Update

Crypto Voices

03:46 min | 2 years ago

Monetary & Political Update

"What is your opinion of like all of the latest sort of academic econometrics models? You know the Alan Greenspan productivity norm type models. What do they do for us like during this time? Because if you really just look at how these major swings in the economy happen, they happen. You know every ten years or five ten years. Everybody always says they're completely unexpected. We didn't know enough. We didn't prepare enough. We should do more. We should tweak our models more and in the same thing happens the next five to ten years so. What in your opinion is the point of All of these models and a of metric stuff that economists dude did it help us during this crisis? Will it ever help us? No, I don't think it. Help US I think. Perhaps there they're just. A way to make the economist few more comfortable, regarding the uncertainty of the future on. Maybe they'll feel more at ease regarding their inability to understand what is going on in the economy, I mean if you look at the forecast by the Federal Reserve System and the feds they employ if I'm not mistaken over five hundred economists and mostly PhD's and have they predicted the what happened in two, thousand eight. No, they did not predict that. Did they predict what happened now? No, of course not and. The situation we have. Currently is not only a matter of economic savvy business cycle swings of the business activity. Of course we do have the pandemic. This has had a major. Force in the crisis at least as the main trigger for the crisis, but why? Why always tried to pinpoint is that the economy was already fragile, so you could see from a whole list of financial indicators. Economic Indicators. The American economy is the global economy was not on a sound footing, so the fragility was. There you could see anything that could be. Trigger might have the effect of precipitating an economic crisis that could in turn lead to a financial crisis. Ex exactly as has happened in the last three to four months so I don't think economic models can do any kind of job in predicting what's going to happen? Economists try to. To Understand reality to understand how the world works, and through this econometric models, which some of them are very sophisticated, they think. By doing this. Different models with a lot of different variables they can have a more sophisticated model that that can provide them with more knowledge, regarding the future, but it just can't. It's impossible to model reality. It's impossible to model the world, and it's impossible to predict what's going to happen, but you can at least assess the the underlying state of the economy of markets, and this is something that I think. Mostly Austrian it tastes have done pretty nicely over the last twenty thirty or forty

Alan Greenspan Federal Reserve System
The Mind Financing The Future

The Portal

06:19 min | 2 years ago

The Mind Financing The Future

"When powerful people use their advantage to engage in new involuntary transfers of wealth safety or freedom from those too weak to defend themselves. The winners are almost always forced to create an idealism as a cover for their siphoning in simpler terms. These idealisms are actually cover stories or bespoke fig leaves which almost exactly fit. The extraction are taking that they are tailored mask once. This is understood. We realized that to test this theory. Each wave of idealism would have to be matched to a highly specific effective confession for an injustice that pervaded the era in which it was found. This concept of idealism as disguising theft is of course an upsetting cognitive shift get is therefore naturally initially difficult to come to see the waves of idealism that characterized each era that we have lived through not as the best of our aspirations for a better world but rather as the photographic negative of the greed of our own ruling classes for example. The idealism of United States competitiveness was everywhere in the nineteen eighties and early to mid Nineteen Ninety S. At that time it seemed to be about the need for all Americans to pull together and get back into fighting shape as a country looking below the surface however it was not really about the need of managers owners and workers to pull together through shared austerity to reinvigorate American industry. Rather it was a false idealism. That instructed organized American Labor to give up hard won gains that were then not matched by comparable sacrifices from the other groups. Once the United States Labor had been sufficiently humbled in attenuated in its power by the Mid Nineteen Ninety S. The drumbeat of patriotic competitiveness gave way to the post National Davos idealism of a world without borders singing the praises of Financial Inclusion Trade Immigration and philanthropy with the Maudlin sediments of nine hundred eighty five. We are the world as its anthem. The purpose of the Post National Movement was not to include those overseas but instead to allow the wealthy of the industrialized world to break the bonds with their fellow citizens of the working class and to access cheaper labor. Pools abroad using far-flung supply chance likewise the idealism of so-called constructive engagement with governments like communist China's would be seen through this lens as the rationalization for ignoring issues of human rights and strategic risk in such a way as to benefit economically in the short-term selling out American interests in the long-term meanwhile back home in the states the techno Utopian perspective that arose dominate. The Bay area of California held. That information just wants to be free and that now. Transparency is king because privacy is dead perversely as you would expect in this theory. This hippie dippy sounding digital vision is exactly what ushered in the surveillance economy as the platforms became not windows but half silvered mirror through which the social media barons learned every intimate detail about their users. These startups turn techno behemoths. Turned the most intimate personal details of our private lives into their proprietary business. Data which was as far from free or transparent as one could possibly imagine the idealism of gender and identity to fits the exact pattern second wave feminism seemed to be about recognizing the intrinsic worth of women in the workforce but it may also be seen as an employer dream to push out the labor supply curve in such a way as to make the previous single breadwinner household require a second income just to keep pace the politics of identity which caught fire in the wake of the twenty ten. Colorado Senate upset are explained largely by economists. Pm Alana's theory. That identity is the cheapest substitute for the Labor Voting Block which demanded far more significant economic concessions. More bizarrely the strange media ritual of pointing the finger of Islamaphobia at anyone who dares ask about a mass murderer in which the killer triumphantly shouts of the hawk. Bar Emits. Bloody and sadistic mayhem may well be about protecting transfer. Payments from oil-rich monarchies while the official admonition to see the Niqab hit job burqa and clitoridectomy predominantly ethnic differences or symbols of female. Liberation is so absurd to go along way towards establishing the need for some theory. Is this to fill the space. The left-leaning idealism of making housing affordable for all that too many bad loans inflated the housing bubble while the right-leaning Ayn Rand Ian Idealism of self regulating markets practiced by Alan Greenspan allowed the banks to privatize gains while socializing the risks losses. The giving pledge to May well be an attempt to keep governments from clawing back unpaid taxes from carefully sheltered fortunes or establishing wealth and asset taxes in a period of radical inequality. In this sense it can be seen as something of a bargain if I promise to screw over my own children for charity. I hope that you will leave me alone and unquestioned to enjoy my vast and carefully sheltered wealth while I'm alive and as we have just seen with the Biden endorsements from Speaker Nancy Pelosi Senator Kirsten Gillibrand and former Senator Hillary Clinton. The metoo movement appears to be less about sexual assault and more about adding a tool for extra-judicial vigilantism which can be wielded selectively or kept sheath according to taste suffice it to say that. Hashtag believe all women has now given way to hash tag believe convenient women so you may ask. Why bring this up now? Well in my opinion what we need now is someone who is not part of any of the official idealisms. Of course that would have sounded quite weird in isolation if I had simply said that we need an anti Utopian to lead us. Wouldn't we want someone envision a dreamer doer hybrid two point the way? No we want someone who is not signed on for any of these horrible anti patriotic charades from either party. Someone who never believed in free trade free markets nationalism housing for all deregulation competitiveness etcetera etcetera. We need someone who is not closed with Jeffrey Epstein who does not possess significant financial relationships abroad. Additionally someone alienated by both the hardline pro-life pro-choice perspectives. Would be perfect for where most Americans are today since the time of Nixon. We've been in an era of predatory idealism with our best impulses used against us from both right and left. It is now time to get back to the hard work of cleaning up from two disastrous generations of failed business people politicians reporters in professors and perhaps most importantly we need to flush our dependence on near totalitarian communist China out of our system before it is too late

China Official Ian Idealism Mid Nineteen Ninety United States Labor United States Jeffrey Epstein Post National Movement California Theft Colorado Ayn Rand Alan Greenspan Alana Nixon Islamaphobia Senator Hillary Clinton
"alan greenspan" Discussed on WJR 760

WJR 760

01:32 min | 2 years ago

"alan greenspan" Discussed on WJR 760

"He I mean if I had to for dinner last night I walked in and has led to when she in her entire lifetime add it up three little taste if you ever did take a test I need you here last night I was exhausted I wasn't cooking they were there I I eat ice cream for dinner at night I don't think I'm packing does and that's my dinner nobody ever said I ate well I guess not you and then when you turn sideways I can't he can't wait and I got together you're going to have to have a serious conversation if you're if you're doing Haagen Dazs for dinner Hey Alan Greenspan agreed with me we're having a dinner one night everybody's been on I go screams not Pantone does I knew it too it's okay if that's all you eat it's okay his agent how old is Alan he's got a got to be in his late eighties nineties yeah okay it was down to eight what we taking all the shots today for its Mardi Gras I want to be happy and be all right I don't know if you can stick around and and can they stick around I don't even know what you have next year I think you can stick around stick around stick around here you can talk to Bob Costantini because he's covering but we simply don't know sense so he's in Charleston well that's good rocky he's generally up to the White House we've got that seven twenty eight W. J. R. this report is sponsored by Canada dry ginger ale now some better news brought to you by Canada dry traffic's.

Haagen Dazs Alan Greenspan Bob Costantini Charleston White House W. J. Canada
"alan greenspan" Discussed on 106.1 FM WTKK

106.1 FM WTKK

01:30 min | 2 years ago

"alan greenspan" Discussed on 106.1 FM WTKK

"Against the Democrats and he got crushed and they took everything away from isn't some of the formula is simple just don't overspend and I think that's part of the problem these days well the world change in nineteen seventy one when president Nixon took the dollar off the gold standard and that's when quantitative easing or what I call fake money started they could this call fiat currency this government has money by decree so the government says this is money so this money and what gives the US dollar pop power is that you have to pay your taxes ten dollars you can interconvert goal be nice if you could a woman except for the dollar off the gold standard because we're losing you know the war on poverty and the Vietnam War then they could print money and the printing money has gone out of control starting in nineteen eighty seven when a man named Alan Greenspan who used to be Austrian economist became a Keynesian economists and he basically put it was called the Greenspan put and that met every time the spot stock market crash the fed would back it up and today the and they're still doing that think so it's not it's just not what's your take Robert on the two thousand eight bailout they should they have let these companies fail these banks fail General Motors fail or should they have done what they did but you talk to you know personally.

president Nixon US Alan Greenspan Robert General Motors fed
U.S. stocks shrug off trade deal concerns, close higher

CNBC's Fast Money

05:44 min | 2 years ago

U.S. stocks shrug off trade deal concerns, close higher

"It is the record rally that just keeps on running stocks touching new all time highs again today but our next guest says you should probably enjoy the good times while they last because they won't offspring and northbound traders spent Henrik who stayed up late for US overseas then and we do appreciate it. I mean you and I have talked a lot about this worldwide exchange of the programs. This is as the market whether you want to call it the Fed steroid or whatever it might be. Just won't quit anything in the charge that you see that indicate to you. This thing is about ready to roll over not about my charter. Actually on on massive sell but the liquidity momentum is extremely strong. And it's it's like the Fed has been playing secret Santa all year long handing out gifts of asset price inflation and the big issue for me is what I what I see here in the macro context first of all is to say that two thousand nineteen has been read revelation Central banks cannot extract themselves from the monetary easing being monstrosity. They've created two thousand. Eighteen was the only year since the financial crisis with central banks actually reduced liquidity on the net basis and immediately blew up in everybody's face and so two solution in two thousand nineteen was go right back into adding liquidity with obviously global rate cuts everywhere aware and then the addition of Qe and not itself. So we're we're basically stock where we're exiting this decade the same way we entered it kicking and screaming with trillion dollar deficits massive central bank intervention load to negative rates. And absolutely no iota of vision on how we're are ever going to raise rates again or reduce balance-sheets because they all going into twenty twenty just pressing the pedal to the metal. So the question is what's the endgame amy old admittedly and and what we see is there's no bull market without central bank intervention and that's the big challenge for the for the next decade but there there is central bank intervention. So I I assume the bull market could keep going. I mean it's hard to believe spend but twenty years ago. I was in this building reporting on sort of the Nasdaq boom in the Internet. Boom is there anything anything when you look at the charts and not trying to spook anybody here but when you look in the charts. Is there anything technically or in the policy construct or whatever that resembles ninety nine. Well actually. This is really interesting. What's happening this year? Keep in mind. When when the Fed we have to divide the year into two parts the the first nine months and the last three months the first nine months was all about you know ending? The quantitative tightening and Unin became about rate cuts to cut defense out of cut rates three times seventy five basis points but then. Everything changed in October. When the Fed was forced to respond to the overnight rate issue the the report crisis in September and basically in October the Fed went wild they're adding balance-sheet and liquidity? At a rate we've not seen since the two thousand nine in crisis so basically acting like this big crisis underneath what's happening with all this liquidity. It's it's accelerated markets higher and brought a lot of sectors stop were struggling beforehand. What's really interesting here is that this is Kinda the same as construct We saw nine hundred ninety nine. Remember nine thousand nine hundred eight. We had a a twenty percent. Correction the Fed. Cut Seventy five basis points. We had the big rally in one thousand nine hundred nine but it didn't really kick off until until Alan Greenspan span came in late in the year of nineteen ninety nine and added a bunch of liquidity in anticipation of the White UK crisis and that lifted markets of dramatically and then ended up topping in March of two thousand the extended all this liquidity added. Here is artificial and has to be pulled back back. Markets maybe overshooting real quick though. Is this inflation. Or we having reflation trade or we having ultimately setting up for deflation sounds to me like a bubble that bursts that still gets us back to deflation even though always going higher copper is going higher etc.. You know it's interesting I. I'm looking at some big structural charts like gold gold as a big bowl flag on it. Petit has a bull flag on it. And if you look at a actually the the rate action here in in Q.. Four it hasn't confirmed this rally at all in bear flag so we've yet to see the Rian flation evidence in terms of the Bond Market Henrik north man trader raiders spend. We have pre. Listen I. It's been you've been strong and on this market. I know it's been a tough market if you've been short but you've you've come out and you've been honest about the calls and and where you feel about it so it's been Henrik. We do appreciate you coming on. Thanks for staying late overseas. We'll see again appreciate that. Thanks Brian. Listen guys I think spend take some heat because they'll say I'm negative. Negative given the market has gone up. But what he's saying is if and win the Fed ever pulls back Right at this market is going to. That's is exactly right. And his point that central banks tried to do that in two thousand eighteen and it led to twenty nine. Thousand nine is a scary tale. It's just it's a cautionary because eventually we are going to get back where we have to removed that liquid it is. It is interesting that when you start to see what everyone's judging this on rates and rates alone start to look at balance sheets where qt was ineffective. The same result is raising rates at every meeting and now Q. E. adding in the same results as cutting so they're not doing anything to rates. They're actually cutting rates by proxy through through their people people. Come up they probably come to you guys all the time and they say why isn't impeachment affecting the market you know why because impeachment whoever's in sixteen hundred Pennsylvania Avenue you can't compete with a trillion dollars in central bank liquidity.

FED Henrik Alan Greenspan United States Boom Unin Rian Flation UK Petit Brian Nine Months Trillion Dollars Trillion Dollar Twenty Percent Three Months
"alan greenspan" Discussed on NewsRadio KFBK

NewsRadio KFBK

02:03 min | 2 years ago

"alan greenspan" Discussed on NewsRadio KFBK

"K. former federal reserve chairman Alan Greenspan is sounding the alarms now over the soaring U. S. deficit which is now growing at a rate of more than one trillion dollars a year as the federal reserve continues to pump money into this economy Greenspan told CNBC that inflation will inevitably kick in and that could be bad news for the economy is in both the United States and in China it is our featured audio clip this our translations is inevitably going to rise that on top of the stagnation resume on there is there is not very beneficial for the world economy I'm certainly not for the United States and China he uses unique language beneficent was one of and that's you know but his history when he used to testify before Congress on a lot of members of Congress would kind of look at him side with like I'm not really sure what you just said all right but you know he's been sounding this alarm bell for quite some time at least for the past twelve to eighteen months Christina he's very concerned about these these deficits number one I mean a trillion a year now and we just had another big spending plan that went right through Congress right everybody gets everything and if we said this in the program before president trump is gonna go down in history as the biggest spending president of all time there are there is no difference between the parties when it comes to spending at all I mean and like you said the current president is probably the biggest one he went from six hundred sixty five billion in the deficit during his first year in office two nine hundred eighty four billion that's a jump of nearly fifty percent just since he came into office and I know these figures sometimes our eyes glaze over when we start hearing these figures but you couple this number with the deficits and with the fact that the fed is pumping a bunch of money continues to pump money into this economy a lot of people don't realize that and this is what creates inflation and this is what Greenspan is concerned about so that's why we chose him as our featured audio clip right all right let's get you caught up in this hour's top national stories now on news ninety three point one KFBK.

Alan Greenspan CNBC United States China Congress Christina trump president fed chairman
Data reaffirms expectation for a slowing in consumer spending

Bloomberg Markets

06:03 min | 3 years ago

Data reaffirms expectation for a slowing in consumer spending

"More we are so lucky to have Danielle DiMartino both in the studio with us here chief executive officer and chief strategist of quill intelligence also a Bloomberg opinion column as a former fed employee in Dallas and you know I really want to focus on the consumer we got a number of data today I got a point consumer spending came in lower than expected and the Bloomberg consumer comfort index plunged the most on a weekly basis in eighteen years in eight years and yet Jake how this put all of his eggs in the one basket of saying we're not going to cut rates as long as the consumer hangs in there it's a big bet on his part I mean he really really is not diversifying fed policy let's put it that way all right so I take it just from that come along that you think that the fed you becoming more it's not so much the rate will look the economy is slowing and it gets tiresome to listen to these press conferences when Jay pals clearly in denial yes interest rate sensitive sectors actually let's just say sector because autos really haven't budged in fact auto buying intentions in the latest consumer confidence data are crashing so the only thing the only needle that's been moved by these rate cuts in housing that's it and and we're seeing as I was as I was just thinking least worst we saw in the bank earnings reports that the credit card spending rates have been coming down revolving credit has been a tremendous support for consumer spending we're seeing the saving rate take up we saw that this morning it took up to eight point three percent consumers are clearly battening down the hatches were seen deposits cash savings increase as well so I think the consumer senses that there's something amiss but again that's where Jay pals got all of his bass all right there are two questions implicit here first question well cutting rates actually encourage consumers to spend more no there it it's it's now I I don't think it will and that you know might mean he's been very good at press conferences about drilling him on this what are these rate cuts going to do I think the rate cuts have more to do with the plumbing in the financial system because the fed is buying treasury bills like there's no tomorrow and money market funds are arbitrage in this by parking their money at the fed where they get an additional ten basis points it's boxing the fed into where they have to continue to lower rates okay the second question that I have is regarding that credit card spending is the biggest banks I read the heard on the street column in the Wall Street journal about this and it was not that it is declining it's just that the growth in the credit card revolving credit has been lower right coming down and I guess they're two ways to read this you could read this as a tempering of the economy which everyone knows that it's slowing and you could or you could look at it as out waiting consumer confidence and a sign that things are gonna turn south which is the correct read I think that consumers know that there is slowing let jobless claims of barely moved by the breath of states that have increasing jobless claims has increased from about a third it hit seventy five percent in September we're running about fifty one percent now of state in the country with rising jobless claims and to your point about growth in credit card spending slowing the average weekly earnings will get new data out tomorrow morning but in June it was running at a four percent right in September it'd take down to two point six percent that's the paycheck growth it's not so much that income is declining it's that households know that their paycheck is no longer growing at the same pace so it's it appears a chairman pal and some members of the the dovish fed if you will are thinking about it it's all about the jobs and everybody's got a job on points at its all time low briefly tell off the sidelines a lot blah blah blah blah so tomorrow what's the what do you look at the cut through the blah blah blah tomorrow the jobs number so I'll be focused tomorrow on the sectors where we're seeing job growth if you looked inside the internals of the eighty P. report yesterday one sector financials that was the only one where you saw any growth of any kind and super large companies over a thousand place otherwise you name the sector contracting and you name the size of the business seriously slowing growth so I'm going to be looking at where jobs being created we've seen in the survey we've seen in the soft data that service and employment indices have come down with in in the case of market it's a ten year low so I'll be looking to see what types of jobs are being created dig into this consumer comfort data and you will see that the highest income earners their confidence has been coming down mom at a much faster pace than the people who they employ who still have high confidence are the is the consumer a leading or lagging indicator absolutely lacking every recession like sixty three percent of post war recessions we have been in recession with with expanding consumption it is not something that you look to to see where the economy is headed it is something you look in the rear view mirror to see post facto we're cooking what did you want to hear from chairman Powell yesterday that you didn't hear I wanted to hear a lot more about the repair facility I wanted to hear a lot more about why he contends that it's not quantitative easing just because it's at the at at the short end of maturity curve I don't think there were enough questions that were asked and I think that his intent and his Cinderella wish is to have a nineteen ninety five nineteen ninety eight redox and be Alan Greenspan to where the economy just continues to expand after three rate cuts but in ninety five we were at the beginning of an economic expansion in ninety eight we had a massive hedge fund blowing up these were idiosyncratic events were not there we're deep deep deep into this economic expansion and I would have preferred to have seen a little bit more about him saying no more rate cuts but by the way QB's blasting right king of the Martinez thank you so much for joining us really helpful Daniels the CEO chief strategist of quill intelligence also a Bloomberg opinion calmest giving us her smart thoughts on what we heard yesterday from chairman Palin the fed and what we might be looking for to what we need to focus on tomorrow with the jobs number of course Bloomberg radio will cover the jobs report in full as we

Danielle Dimartino Chief Executive Officer Chief Strategist Dallas Bloomberg Seventy Five Percent Sixty Three Percent Fifty One Percent Eighteen Years Three Percent Four Percent Eight Years Six Percent Ten Year
The Climb: Auburn Athletic Director Allen Greene

The Paul Finebaum Show

11:17 min | 3 years ago

The Climb: Auburn Athletic Director Allen Greene

"We walk me back to reach the final hour of the program and shout out to our crew here. Uh in the last thirty minutes we have gone from being outside inside outside and inside again all all because it is summertime. No it's actually the fall but it feels like the summertime here in Auburn Alabama. Let me also welcome the Director of Athletes Alan Greenspan Alan considering. You're wearing snazzy so you're probably lucky to be inside outside one hundred degrees all day and I think I'm just going to throw all my calls away on the way home. I'm glad you've worked your weather magic. Yes nice being inside. It's great to have you in when you were introduced. not that long ago as as AH Athletic Director it was a significant moment historically and sometimes people look the other way when when we talk about the first this for the first step but I think it's also worth talking about Allen because we're what fifty the fiftieth anniversary of the integration integration of of integration in this thing and so many significant moments and there was this series that we have on Tuesday and a lot of attention has been paid to that glad that we've talked to Congress hallway other day was the first black quarterback in the SEC and he talked about the struggles even thinking about going to one school but he said coach Bryan told them Alabama may not be ready for that. These sound foreign to young people who don't know a world like that but it is. It's important to remember. It is thank you bring that up Paul. It's not lost upon me. I'm the first Black Catholic director Albany has ever had and although I see myself as just another aid like my colleagues I do have to at least understand that my skin's a little bit darker. I got a little more of a Tan than everybody else but we are celebrating the fiftieth anniversary of integration in Auburn Athletics Alexander. I'm really truly humbled to be at Auburn at this time to be able to help celebrate this milestone and so all we can we're going to celebrate the integration and it just speaks volumes in my opinion of Auburn family and gives us a chance to just celebrate something. That's really important as we move forward in our country. Particularly I remember that time. You're too young and it was difficult because coach. I said something a minute ago. You said it was politically they difficult but for him growing up on a farm. It was not difficult at all but I'm I'm interested Allen in you. Have Young children seven seven seven year old senator in you have another one to have a twelve year old son Sammy and for for for Sammy Seneca what what does this mean to them because I don't remember well about one more who's fourteen and she's a freshman. Her name is Ryan and we try to help. Educate our kids about the differences the struggles that people of color have had throughout our country and it's not just people of color but those who are in the minority of those who have had a difficult time in navigating society diety across across the world and so we it's important that they understand that will drive through Birmingham or Montgomery there's a history their job to sell them for the summer for the first time in drove over Edmund Pettus first time a couple of weeks ago and the people that were gracious incredibly emotional for me and those are just things that we have to consider remember I'm from Seattle Washington so getting in and having that experience experienced down southbound. I watched it on TV and I watched it on the Internet and so but being here at Auburn his has helped me understand the real true through hearts of people in the south and we couldn't be we couldn't be happier to be here. I remember early in my career. I became very close. Translate with Tom. Ghassem who was one of the first to to be down here and he told me the stories of some of his friends one. I think it was a trailblazer basketball that had a tough time right and it was such an education and it still is it is it is but but I again like I gotTa tell people the I've told this to our fan base Auburn family has embraced Christie myself in our kids so much more when I ever thought and it's a it's a great community to be in. We are thriving. Everyone asks all the time. How you and your family doing work great. We love it here. In the family's van been very very welcome and embrace us with open arms and things seem to be going pretty well. You can just go right down the list of Sports Baseball Paul last summer basketball on and obviously things are looking up. I I realize good so it's funny. Someone told me Stat last year we were only the fourth school in Division. One history to winnable game goes to the final four college world series and one year and I said the fourth this year and they said no the fourth the fourth ever so we had a tremendous season last year. We had a national champion. Gymnastics are women's golf team went to the final four for we've. We've had a lot of success to build on and we certainly got enough to a hot start in football this year and we're really excited about that and robs. You really excited about what the future has force the rest of this fall since our really hot button questions ask you about personnel. I do want to ask you about the student athletes of today so much going on especially with the legislation in California mark talking about that today and and you know you because you talk to athletes every single day you go to practices you. Keep up with it. What do you hear from young people about where their sports are going yeah. It's it's interesting Paul. A lot of the concern for our student athletes is mental health in time demands. Those things haven't changed. I think we're we're a little bit of a different world now where student athletes and I guess millennials so to speak haven't really had to deal with coping right and and having to figure the things on their own and so we see that and you see that in our student athletes are member about five years ago. I didn't believe that there was actually mental illness. Why can't the kids just toughened up like we and we just battled getaway but it's a different environment and so we do all that we can try to to wrap our arms around our student athletes help give give them the skills necessary to be able to to cope and go through adversity and then also certainly from a time perspective helping them understand that in order to have a great student athlete experience they have to be more than just athletes they have to be students have to engage in our campus life and try to do something that's going to push them out of their comfort zone and just get to get to experience all that their universities have to offer. I was struck. I'll tell you I had the opportunity to speak to a journalism. I was in class and I've done this before and sometimes I walked away going. I'm not really sure about today's students. Today I walked away blown away by by everything about the young people in terms of their knowledge their awareness and I just I I I'm I'm really just so thrilled in the opportunity because I sometimes we don't give enough credit and and and I'm particularly interested in the coping part. I know this sounds a little heavy for a sports show. Why do you think having played intercollegiate athletics a couple years ago a couple of why why. Why do you think it is it? Is it different than it was when I don't know that things are any well yes. It's different social media media. We didn't have email back then. I'm dating myself but so social media's out. There are students in our young people in society ninety. Today in my opinion are a lot more a lot smarter right. They have so much more information but Tom Goss said this during lunch today just because they have all the information on their phones doesn't mean they have all the answers and I think it's our responsibility as adults to help them find those answers when they have when they have some sort of a struggle Ogle to help make the decision for them but to help guide them so that they can make the most appropriate decisions and allow in this tough for us because we're in such a competitive environment armant but people need to be allowed to fail and sometimes it happens on the field of play when you don't want to but we are so interested in preventing our young people from failing because we don't want to hurt them. They're actually probably do a little bit of a disservice so trying to find those environments where they can fail or they can learn. They can grow that will help also make them better people. That's that's what we're trying to do. What I sit here and listen to this you sit in these ivory tower positions TMZ which sometimes we we are in the director and say well he he'd better view this or that because the program is not being competitive you often forget. There is a a huge underbelly of all of this so what no there's no answer to these issues but How do you work on a daily consistent basis to deal with them? You've got really deep Paul one of the things I think what our coaches do. A great job of is really getting to know our student athletes elites and getting to know them as people whether it's doing ropes courses or just having them over their house for dinner really understanding where they came from what what makes them tick what makes them what do they respond to and then more importantly. Paul I think is the coaches understanding how they coach. One of Bar Coaches Mickey Dean our softball coach was talking to us as head coaches and said he takes the test so he knows how he coaches and he also takes has as their student athletes take tests and he realizes that there's sometimes when personalities don't match up and if the student athlete doesn't either move toward the coach or the coach doesn't doesn't more to move toward the student athlete kind of there's not much of twenty four success there so I think having some self awareness really really important and those types of things that we talk talk about as as head coaches and as administrators finally what you engine to lunch what what else is on on the schedule for the for the weekend. It's been a long one. Campus is a buzz right now funny enough. I actually saw some people. They weren't tailgating yet but they were setting up. It's an o'clock this this morning to get ready to set up for their tailgate. They said they were sitting in sweating this morning but we've got a ton of dedications a couple of dedications today. We dedicated eight at our barn today which was fantastic event. WE'VE got a couple of events this this evening to honor and celebrate the fiftieth anniversary surreal integration. We're going to have a little soiree at our house this evening with some special guests are gonna come over and then we meet with recruits all day tomorrow some more more celebrations and

Auburn Director Paul Tom Goss Allen Auburn Alabama Sammy Seneca Alan Greenspan Alabama SEC Bryan Gymnastics Edmund Pettus Congress Mickey Dean Ghassem Ryan
8 Things that Happen During a Recession

Motley Fool Answers

05:37 min | 3 years ago

8 Things that Happen During a Recession

"GONNA talk about eight. Things usually hassle ate during recession comfy here you go number one stocks drop generally speaking the drop about start drop about six months before the recession and according to the capital group which is the folks behind the American family of funds the start to rebound about six months into recession and that they've recoup their losses over about eighteen months so usually it's. It's not too bad. the average loss during recession depends on how you look at it but it's like twenty to thirty percent some of in very shallow that said the last two recessions we experience at the dot com crash and the great recession. Those were declines a fifty percent. It took more than five years for the stock market to recover but basically this is why we always say any money you need. The next few years should not be in the stock market number. Two rates also dropped so it's already started. They could continue to go lower. The Federal Reserve is going to meet a week. Everyone expects them to drop the Fed funds rate by twenty five basis points. Maybe fifty basis points around the world. There's this is phenomenon of negative. Interest rates hasn't happened yet in America but Alan Greenspan recently just told CNBC. It's only a matter of time so rates. Could it keep dropping. What does that mean well. Ideally you could refinance your home. Get a lower mortgage. Guitar Refinance Your Car Loan Student Loan. Hopefully your credit card rates also get out so that's actually pretty good news number. Three bonds hold up depending on the bonds so generally speaking when rates go down bounds go up as we've seen that this year bonds actually made almost ten percent so far in two thousand nineteen which is a pretty extraordinary turn for bonds in two thousand eight when the S. and P. Five hundred went down thirty seven percent bonds. I went up five percent. The only thing is it does depend on the type of bonds treasuries do well corporates do generally okay but it depends on how far you go down the the credit rating. When you're looking at junk bonds they do not do so well. They lost twenty percent and two thousand eight so the more you are concerned about a recession the more you should keep your bonds to treasuries or highly rated corporates or maybe just play it safe with cash number four. The price of your house actually might go. Woah so I think a lot of us were stung by the great recession and that was really the first time when we saw a nationwide drop in home prices the truth is when you look at recessions historically home prices actually hold up well and there was a study by Mark Mark Holbert published in Market Watch we found that when when you look at the case Schiller Index of home prices that actually does better during stock bear markets than does during stock bull markets so historically in in most cases. Your House is actually a good hedge against the recession against inflation and its stock market drop however during the great recession what we saw last time that was not the case so there will always be outlived. Generally houses hold up pretty well number. Five inflation generally goes down so this is the upside of downtrodden economy economy. Prices generally do go down. So what does that mean for you well. It's actually a really good time to make a major purchase by a car. Get an appliance because all those folks out there trying to get consumers to come in and buy something so if you have the means and you're looking to make a good perk big. Purchase recession is actually a good time to do it number. Six employment goes up so according to the Washington Post the unemployment rate has risen two point four percentage points on average during the eleven recessions since World War Two so it goes up slightly but of course sometimes it could be worse. What was the worst since World War. Two was the last one the great recession unemployment went from five percent to ten percent on average. People were out of a job for six months so that's a good frame for what we talked about the Emergency Fund how much you should have and the way to prepare for this of course is to have the emergency fund but also keep your debt levels manageable because that's where people get in trouble to have high debt levels. They lose their job and they could no longer pay the mortgage or anything else so they they lose the house or they lose the car. So have the Emergency Fund and keep your debt levels manageable number. Seven employers reduce benefits so even if you are fortunate enough to remain among the working chances are something we'll get reduced. That's right. You may not get a raise. You may not get the bonus. Your 401k match might get eliminated. That's happened. Here is then the for kindly made up for it. Retroactively that usually does not happen so you'll see stuff like that. You may not have fancy holiday party at the end of the year might be in the conflicts in how we've done that too potluck instead of a fancy party downtown but so even if you do have managed to keep your job and most people will all you do have to expect that you'll probably have to tighten your belt a little bit somewhere another and number eight intersection stocks do go back up in the economy eventually eventually recovers so for those who have the cash on the sidelines and the guts buying stocks in the middle of recessions can actually be one of the best investments you ever made but you can't wait until the recession over is over because the stock market begins to recover before the overall economy but history has shown. US economy will recover you will be able to go back to the Fancy Politics Party at the hotel downtown and stocks will eventually they will recover and reach higher

Emergency Fund Federal Reserve Mark Mark Holbert Fancy Politics Party United States Alan Greenspan Washington Post Cnbc America Six Months Five Percent Ten Percent Thirty Seven Percent
"alan greenspan" Discussed on KUGN 590 AM

KUGN 590 AM

02:46 min | 3 years ago

"alan greenspan" Discussed on KUGN 590 AM

"What do I mean by that. well. you're basically you're basically crushing. rushing these instruments that people have to buy. that pension funds have to buy a certain financial institutions half the by. and you are saying here here's nothing. forcing them to buy these instruments that are. in many cases. negative interest rates. you're losing money going. you have any idea what this is doing to. pension plans. I'm just here but all around the globe. get any idea. that certain people coming out taking a look at pensions that are not doing too well around the country how could they be doing. the portion of that pension that has to be in cash and cash equivalents that's what. yes what kids. it's not earning anything. and most of these pensions make assumptions that they're gonna show six to seven percent a year and when you take a large chunk of that portfolio and its yielding nothing that's a very difficult thing to do. let me tell you something out that's a little bit frightening. we talked about this before here on the program. who's to say at some point in time who's to say at some point time government says Gee whiz now what we we can't afford to get people to buy all this government that at no interest rates anymore I got an idea why don't we why don't we force the entire country I don't foresee entire country to take all of their money in there for one case an irate and by government debt with it basically lend us the money. you don't think that they can do it. they can't. during the Obama administration a professor by the name of trace a general duty and others with in the treasury department. we're working on adapting a plan like that is basically a social security part two point. so yeah. they're thinking about. what are we doing well. I'm fine government that that's for sure. yeah we've been dealing with this for a while doing this for a while sick and tired of hearing from Alan Greenspan I'm sick and tired of hearing from all these people telling us that these ultra low rates are fantastic okay there's nothing we can do about it I get it I understand with the train as we deal with. we deal.

treasury department. Alan Greenspan Gee Obama administration professor seven percent
"alan greenspan" Discussed on 790 KABC

790 KABC

10:07 min | 3 years ago

"alan greenspan" Discussed on 790 KABC

"That to happen that's got to stop plus Alan Greenspan is now pushing for negative interest rates this is probably not a good idea you know having the federal reserve be this in charge of the economy it should scare Republicans even if you think it helps president trouble get to that but first there is a story out from The Washington Post that should be at least mildly disquieting about what the White House is looking at with regard to gun control now I source in America but the White House is doing and I also see the downside of what the White House is doing here is the story and then we'll decide together Jacqueline aluminium reporting. the White House is considering new projects seeking links between mental health inviolable hater according to Washington post the White House has been briefed on a proposal to develop a way to identify early signs of changes in people with mental illness that could lead to violent behavior supporters see the plan as a way president trump could move the ball forward on gun control following meets recent mass shootings as efforts seem to be flagging to impose harsher restrictions such as background checks on gun purchases the proposal is part of a larger initiative to establish a new agency called the health advanced research projects agency or harbor which would sit inside the health and Human Services department its director would be appointed by the president the agency would have a separate budget according to three people with knowledge and convert conversations around the plant. hi Bob would be modeled on DARPA the highly successful defense advanced research projects agency that serves as the research arm of the Pentagon and collaborates with other federal agencies the private sector and academia the concept was advanced by this isn't right foundation and first discussed by officials on the domestic policy council and senior White House staffers engine twenty seventeen so basically the proposal is that we set up a new government agency and their job is to suss out signs of early mental illness so that we can keep track of people and put red flags on them so they can buy guns. the problem is how do you determine what mental illness constitutes and at what level can your men guns from people this is the right foundation we approach the administration last week and propose that heart but include a safe home stopping average fatal events by helping overcome mental extremes project well one of the things you got a lot of that legislation is that everyone has to come up with an insane acronym I'm very much looking forward to the. the old truck new Mozilla call volcano Claudio says. bell in it there just be enough letters to make that happen officials discussed the proposal of the White House last week said two people familiar with the discussions. you tend to use volunteer data to identify neurobehavioral signs of someone headed toward a violent explosive act will be for your project costing an estimated forty to sixty million dollars according to Jeffrey laying the lead scientific adviser on harbor is everybody would be a volunteer we're not inventing new science were analyzing it's we can vote no approaches so they will presumably create algorithms so they can look at the content you post on social media and then see how that winds up with the possibility of doing violence in the future. there are plenty of researchers and mental health experts believe mental health and gun violence are necessarily linked. that's almost can sometimes be a factor in such violent acts experts say but it is rarely a predictor most studies show that no more than a quarter of mass shooters have a diagnosed mental illness more commonly shared attributes include a strong sense of resentment desire for notoriety obsession with other shooters a history of domestic violence narcissism in access to firearms. apparently from his reacted very positively to the heart but proposal. but it'll be interesting to see if Congress is willing to create a whole new agency behind all of this it is also unclear how exactly again this is implemented. let's say that her **** actually creates a breakthrough technology with high specificity and sensitivity for early diagnosis of diet diagnosis of psycho neuro psychiatric violence. how specific with that study have to be me after all when you're talking about mass shooters your talking about eight hi Tony my newt infinitesimal nearly nonexistent percentage of the population on a statistical level there three hundred thirty million people in the United States you're talking about a handful of people per year. how exactly do you create an algorithm that sensitive they are able to weed out the people who are going to use a gun and shoot up OB I'm all from the people who are just saying terrible things on social media but are not actually going to do all of those things. the document actually lists a number of widely used technologies and suggest could be employed to help collect data and here's where you get into the controversial provision. saying that you could use apple watches Fitbit's Amazon echo and Google home. add getting creepy this is starting to look like minority report now so if you're talking about just the date of the people volunteer and put up on four channel eight channel Facebook or Twitter that's one thing that is your fault for putting that data out there if we are talking about private data being gathered by your apple watch for your Fitbit or Google Homer Amazon echo. that's scary stuff because the fact is we all say ridiculous crazy things in the privacy of our own home do you really want some doctor going through everything that you say and trying to determine if you fit in algorithms the your gun rights can be removed from you. I mean that violates absolutely the Fourth Amendment medicine reasonable search and seizure of data for sure. the document also mentions powerful tools collected by healthcare providers like fMRI struck top of Univision else's. this is gonna be great what the government is gonna have the power presumably to demand that your functional MRI eyes. are used a leg and functional MRI by the way are pretty an exact. not to mention this for the one million time my wife is a doctor she had studied psychiatry and FM arise are really really an exact they're good at some things in there very not good and others the notion that I can sort of read your brain is just not true. the documents as advanced analytical tools based on artificial intelligence and machine learning a rapidly improving it must be applied to the data. now people familiar with the project stressed it would not collect sensitive health data about individuals without their permission to their things a preliminary I could certainly see a world where. people in government push to start violating the Fourth Amendment in pursuit of exactly the state without your permission. they say the government is simply trying to identify risk factors when it comes to mental health I could indicate violent behavior. he must be safeguarded profiling must be avoided data protection capabilities will be the cornerstone of his temper of this effort. but critics are deeply worried and I think rightly so about the power of government in this area. now if they're safe day if they can if there's a voluntary study in which there are certain people who volunteer as sort of Guinea pigs that we can develop better algorithms and then we can use public data about people to utilize those algorithms. then that seems less troublesome to me and that's a presumably what they're doing presently that's what attracts president trump. but. there would be something obviously very scary about setting a precedent that the government if only they had the capability of accessing your Amazon echo could know what they are potential should or not how have you with the political pressure B. to violate the Fourth Amendment. that is a pretty scary stuff obviously. meanwhile the left continues to exercise political pressure in every direction on gun control The Washington Post has an absolutely absurd editorial targeting Mitch McConnell the Senate Majority Leader. told how many more names will be added to the list before Mitch McConnell act on guns again this is using the same old same old ridiculous contention and Mitch McConnell must not care about dead people because he doesn't approve the Washington post pursuit on gun control the editorial says. my name is the individuals were just killed in Midland and Odessa it's as add those seven individuals randomly slaughtered Saturday by shooter in West Texas cities of Midland and Odessa the toll of those lost to America's gun insanity again they were not lost to gun insanity they were lost to an evil person who had a bunch of red flags it's not gonna like what is that even mean gun insanity. it is really absurd. I mean it really is because there are millions tens of millions hundreds of millions of people in America are gun owners who have a gun in the house were not insane they're not part of the global done insanity. but the Washington post as what if there is a mass shooting in the United States not once or twice for four six times monthly but every single day a big one the kind of electrify social media and squats for days on page one would that be enough to move Senate Majority Leader Mitch McConnell from his insistent inertia undone safety. would any volume of bloodshed convinced the Kentucky Republican Congress faces a moral imperative to act. I got to say I am very very bored but the idea from the media there's a quote moral imperative to act when you do not specify which action would actually have prevented the shootings. I think something bad happened in my life there is a moral imperative to act a moral imperative to a moral imperative to act to do what she actually clarify what is the thing that is the moral imperative to do. eight days it then they talk about how terrible it is the people been shot a great and they take the list below far from comprehensive is tragic in part because it is so far from inevitable no no single law would end gun violence but there are reasonable obvious measures that would help for example in the sale of military grade assault weapons really would that help right let's see the studies that show that they really help when there was a band I quote unquote assault weapons from nineteen ninety four to the early two thousands was that something that helped greatly because I'm not seeing the evidence for that. but again the code word for we have no evidence is common sense when it comes to leftist policies so many common sense gun control what they mean by common sense gun control is we like it but we have no evidence to support it. they say these are are needed by civilians really and they are fifteen as I needed by civilians I feel like I might be narrow fifteen to you know protect me from a person trying to invade my house than a are fifteen of which there are tens of millions circulation by the way. and then they do it this this is such a while writing the unneeded by civilians there a blight on the nation the ready availability a national disgrace okay so thank you for using a thesaurus but also can you make an argument. it's eliminating them would slow the growth of this list what if dell. really what do you have any evidence of that whatsoever..

assault Alan Greenspan Mitch McConnell Washington United States America Kentucky Republican Congress Senate dell. sixty million dollars eight days
"alan greenspan" Discussed on Biz Talk Radio

Biz Talk Radio

02:00 min | 3 years ago

"alan greenspan" Discussed on Biz Talk Radio

"Fortune magazine. Front cover real estate riches with a highlight ten people that became wealthy beyond their imagination on flipping houses. But it also enabled. Another thing Wall Street as usual, when it gets frothy Wall Street gets greedy. So they packaged all these mortgages that started to become bad and sold them and did it with lots of leverage. And then you had the one who enabled all this with easy money say, no we're fine. No, we're good. No all's well. Housing prices have never gone down. Year-over-year don't worry. Subprime lending. We're good. Alan Greenspan said subprime lending technologies terrific now. Konami stable of Konami strong all's well. And then all hell broke loose. Why? Because it all blew up, you had leverage and distorted prices at the top and the party is over. So the Goldman Sachs is of the world, that would put together, crappy mortgages, and then sold it, and then short them. You get my point. So the house came down. The easy money enabled. Another bubble and is always another bubble that popped and pop badly. I went to the Bank and took out twenty five thousand thousand cash. Because I was so worried about the. Whole financial system brought to you by government. Burnett Wall Street and the politicians..

Konami Fortune magazine Alan Greenspan Goldman Sachs
The Fed was unusually chatty Tuesday

Marketplace with Kai Ryssdal

02:01 min | 3 years ago

The Fed was unusually chatty Tuesday

"The marketplace number oh, the day this Tuesday is five five members of the Federal Reserve's open market committee. That's the one that gets to decide interest rates. Remember five of them gave public speeches today. And believe me when I tell you for the fed that has a whole lot of talking central bankers have non at least historically been the most say, what's on your mind group of people that has been changing those we've been reporting and as marketplace's Mitchell Hartman tells us today, it has potential upsides and downsides back in nineteen Ninety-six. Then fed chair Alan Greenspan, uttered, the words irrational exuberance in a speech investors thought he was saying stocks were overvalued and the market tanked, probably not what Greenspan intended. But he did want to be opaque, says economist Frederic Mishkin, who served as a fed governor in the mid. Thousands. Michigan says one time after testifying to congress. One of the congress, people said that was very clear and Alan Greenspan, said, well, then it must have been a mistake. But under the next fed chair, Ben Bernanke transparency and frequent communication became guiding principles. That's continued under his successors. If you can get the markets understand how you react to future events that can actually make things monetary policy of warfare, active. A lot of what current chairman Jerome Powell. Communicates says university of Michigan economist, Betsey Stevenson is to reassure us that the feds got. It's all on the ball and on the news. Oh, and they're aware that obviously, the trade issues had the potential to have a big impact, so they're watching it really closely chairman Powell does have to contend with one communications challenge. His predecessors didn't says, dean Baker at the center for economic and policy research, and that's a president who publicly criticizes the fed POWs going to bend over back. Quds to say, we're not gonna listen to the present telling us to lower rates not Baker says, if economic conditions warranted Powell won't hesitate to cut rates and explain exactly why.

Alan Greenspan Federal Reserve Jerome Powell Dean Baker Ben Bernanke Chairman Michigan Frederic Mishkin Mitchell Hartman One Communications Congress University Of Michigan Betsey Stevenson Quds President Trump
"alan greenspan" Discussed on KQED Radio

KQED Radio

01:41 min | 3 years ago

"alan greenspan" Discussed on KQED Radio

"As a young man Greenspan was a serious clarinet player. He even studied music at the prestigious Juilliard school. But as you see in the play his heart is with economics. The asset and the impact and the advocate balance sheet have on the aggregate investment process that that number is called going to leave Juilliard going to study economics. Later, we see Greenspan spending time with his friend. I n rant at her weekly gatherings. Debating taxation is immoral. How can function in? Most of the play though, traces the five terms Alan Greenspan spent as chair of the fed. In fact, some of the music just sets Greenspan's most famous speeches to a beat the sun. The simple notion of price, which draws from his nineteen Ninety-six speech to the American Enterprise Institute. Right. Financial implication, critical reception has been irrationally exuberant an audience interest has been high sold out crowds standing ovations six curtain calls every night. Word has spread quickly. And that's made tickets hard to get on a recent Wednesday the line snaked around the block small Greenglass was in the crowd. I've been lining up, and I still have not gotten tickets yet. I've just been listening to the album on arepa. Financial? May Lee has already seen it back for more. This is already in the pantheon of musicals. Like, you've got les mis cats Greenspan, it's also.

Alan Greenspan Juilliard school American Enterprise Institute Lee
"alan greenspan" Discussed on 90.3 KAZU

90.3 KAZU

01:31 min | 3 years ago

"alan greenspan" Discussed on 90.3 KAZU

"Run out of money. I ask financial support from the city. I hope that can give it to us who see no sooner or later, I will not able to do this anymore and with these Central American families continuing to arrive the question for many is how long can San Antonio sustain its welcoming response for NPR news. I'm David Martin Davies in San Antonio. All right. Hamilton fans. Get ready for your next obsession, a new show inspired by Lin Manuel Miranda's Broadway hit about Alexander. Hamilton could end up eclipsing. It reporter Jen sands. Windsor has the story for composer director. Chris styles. Bacon. It was a no-brainer. Always grew up Hannah bottom Alan Greenspan, Alan Greenspan. You know, we in the out Alan Greenspan Saint making that green Alan Greenspan. I just found inspiration. I mean the way he managed interest rates in the nineties the drama the dot com buys. I mean, people forget about the history. You know, they'd be sleeping on them. Hamilton for him was like a light bulb going off Yemen. When I saw Hamilton. I knew that the next story that needed to be told the story of Alan Greenspan a self described progressive hip, hop artist. This was Chris styles. Bacon first musical a challenge. He was eager to take on he points to the parallels with Alexander Hamilton. There's the influence on the American economy Hamilton with Treasury Secretary green. Span was chair of the Federal Reserve. They both lived in Manhattan and both attended Columbia University..

Alan Greenspan Alexander Hamilton Chris styles Lin Manuel Miranda San Antonio David Martin Davies NPR Federal Reserve Jen sands Manhattan reporter Windsor Columbia University Yemen director
Fed holds line on rates, says no more hikes ahead this year

No Payne, No Gain

01:37 min | 3 years ago

Fed holds line on rates, says no more hikes ahead this year

"And in a world filled with uncertainties that Federal Reserve gave us one less thing to worry about this week to no one's surprise. The fed kept interest rates unchanged. But came across as more dovish than most were expecting Federal Reserve chairman Jerome Powell indicated that they are unlikely to raise rates again this year, and maybe nearly finished with a series of increases they began within three years ago. In response. Stocks climbed briefly to their highest levels for the year and the bond market rallied higher across all maturities, the benchmark ten year treasury bond yield declined to two and a half percent. A new low for the year at a big positive for the housing market since mortgage rates loosely. Follow the ten year yield and mortgage rates fell sharply this week to their lowest level in fifth. Fifty two weeks in some the feds may name appears to be to do. No harm to the economy. The chairman pelvis was in a quote, good place unquote, while inflation continues to run below its two percent target. And in the absence of a sharp economic slowdown, which the fed doesn't see in the cards their forecast for gross domestic product growth was trained to two point one percent down from two point three percent while it's predicting growth of one point nine percent. Twenty twenty the Federal Reserve chairman recent actions are reminiscent of a previous chairman Alan Greenspan whose actions during his reign in the ninety s repoprtedly known as the Greenspan put leading investors to believe that whenever stormclouds appeared in the economy. The fed would come to the rescue with loose monetary policy. Do we now have a pal put well, a time will

Federal Reserve Chairman Alan Greenspan Jerome Powell Stormclouds Ten Year Fifty Two Weeks Three Percent Nine Percent One Percent Three Years Two Percent
"alan greenspan" Discussed on Intercepted with Jeremy Scahill

Intercepted with Jeremy Scahill

03:42 min | 3 years ago

"alan greenspan" Discussed on Intercepted with Jeremy Scahill

"The tax system is not doing enough. Even though it's a progressive tax system that is you pay a higher share of taxes as your income increases. Even though we have a progressive income tax system. It's not nearly progressive enough. And we ought to be doing more to correct those imbalances that allow the people at the very top to become so extraordinarily rich that those riches than hinder the working of the economy and undermine the functioning of our democracy. So what she said is look, you know, let's keep basically the system we have in place right now. But then once you once you make so much that you pass the ten million dollar threshold in income taxable income in. A given year beyond the ten million dollar. We should tax you at a higher rate. So that the concentration of income doesn't increase to the point that, you know, you cause other problems in the economy. So she said, look, let's take the ten million and one dollar ten million in one dollar and tax it at a higher rate, and she floated the idea of of seventy percent. And so that's what she's talking about the way that the economy is currently structured and run by in the United States what ultimately will happen to the generation of young people just entering the workforce. Now when they hit retirement forty some years in the future, if things are just kept the way that they are what happens with the promise of social security too young workers. It is one hundred percent up to congress. There is nothing about the way that the social security system is structured today that would prevent the federal government from keeping. Its promise in full on time all future retirees their dependence, and the disabled this is a really kind of interesting conversation and exchange that took place years ago between congressman Paul Ryan who's had a hankering for dismantling the social safety net for his entire career in congress. I ki- would love nothing more than to deliver workers savings the contributions that currently go towards social security. He would love nothing more than to funnel. Those to Wall Street, and he has worked for many years to try to make that happen. And fortunately, he has never succeeded. Good morning and welcome today's budget committee hearing today, we welcome back to the committee pleased to have with us, the chairman of the Federal Reserve Alan Greenspan to discuss the economic outlook when he had the opportunity as a member of congress, and he had Alan Greenspan in front of him under oath giving testimony Paul Ryan asked Alan Greenspan. To agree with him. Thank chairman. Mitch greenspan. I wanted to Mr Chairman thank you for spending. All this time with us here, by the way today, it's been a couple of hours, and I really appreciate your indulgence. I wanted to go on social security and ask you a couple of questions. Basically, we have a few options head of us on restoring solvency of social security. We can that social security was going bankrupt that it was unsustainable. And that now is the time to begin to move toward a system of personal retirement accounts that is code for privatizing social security, so having personal retirement accounts is is another way of making a future retiree benefits more secure for their retirement. And so he tees up this long winded question and all he's looking for is for Alan Greenspan to agree with him and say, yes, I think that's the right thing to do. And instead Alan Greenspan gives this very nuanced. But very important answer in which he tells congressman Ryan, I wouldn't say that the. As you..

Alan Greenspan Mitch greenspan congress congressman Paul Ryan chairman United States congressman Ryan chairman of the Federal Reserv ten million dollar one dollar one hundred percent seventy percent
"alan greenspan" Discussed on Biz Talk Radio

Biz Talk Radio

02:15 min | 3 years ago

"alan greenspan" Discussed on Biz Talk Radio

"Today on the show, we're going to be covering central banks and why they are so much more important now. Then they have been in the past. Then we'll be talking bubbles. And what they look like how they feel. Why the occur? And how they end. We're going to talk about earnings and the importance of gaps when companies report earnings gaps both up and down. Of the things we'll be discussing today in the markets. Sector's cousin stocks. What's cousin stock will explain and a little bit on relative strength because ladies and gentlemen, we think there are just too many definitions out there on what relative strength is in the markets. We will strip away all the myths and explain so again, we thank you for being here on this day. It's either a holiday or we are out. And where do I want to start today? And it's something we've talked about a lot. We never really used to have to talk about it. Many years ago. Central banks. Their job was simplistic meet every month and not do much seriously. Many years ago. There were no central Bank people talking in between meetings. It was frowned upon. And then came the mid nineties for some reason, they decided they needed to be famous. Needed to be out there all well. And good. But something else happened. Back in the late nineties. There was a gentleman by the name of Alan Greenspan. Who believed in easy money policies and at that time. All it meant was lowering interest rates and.

Alan Greenspan
"alan greenspan" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:25 min | 3 years ago

"alan greenspan" Discussed on Bloomberg Radio New York

"Better. Treasury. Trust me there. So we we meet with I meet with the with the head of an accurate National Economic Council. The board of governors actually meets with the with the council of economic advisors, and these are very important relationships, very important, very standard. And because we need to have a working relationship. It will come in handy. Remember, congress calls you and says I'd like to meet with you. What do you do you meet with any member of congress and wants to meet with you, or how do you decide I decide I just meet with them? I do I think it's very important. They come to visit you or you go visit them visit them quite a lot. But we also we have we have visitors have visitors over for breakfast and lunch and groups and things like that. I can't I can't stress. How important is in our system of government our accountability to the American people runs through congress to the two oversight committees Senate banking committee house feature services committee and also through through leadership. So we spend I spent and all my board colleagues. Also, spend lots of time explaining what we're doing. Why we're doing it we seek transparency we seek accountability. It's a big part of what we do some of your. Predecessors were known to speak in what they would call him. I would call fedspeak which is to say it's very difficult to understand what they're actually saying. Alan Greenspan would be the master that. I think he would take pride in. So you don't like to speak in fedspeak. So how do you get out of speaking and fedspeak when you have all those spend people around you. So I what I'm trying to do is. I'm trying to explain what we're doing. And why we're doing it in a way that is comprehensible to the interest in public and. That's what I try to do it. I ju- jargon, economic Jorgen has a real place the way economists say exactly what they mean. Exactly what they don't mean. It's not appropriate for use in with the public because it's just annoying when people start using these technical words that don't mean anything to them. Irritating. So I try hard not to use it relapse into Latin for that matter. Now, speaking Latin interesting use of language, you have a skill that you have affected since college, which is you can take a word and pronounce it backwards. So I take Rubinstein you can say that backwards. Is that right? Yes. Actually, it was something I was born with I I can spell. I can see your name spelled forward and backward in my head. I I've been able to do that since I was read any advantage in life and having the skill..

congress National Economic Council Alan Greenspan fedspeak Senate Rubinstein
Three Factors or Events that Affect the Stock Market

Safe Money with Scott Mann

02:26 min | 4 years ago

Three Factors or Events that Affect the Stock Market

"Nine hundred ninety nine when the market overheated bobble number one in Alan Greenspan was late to the game of raising rates. Finally, smoking the market and creating bubble number two in the real estate market. The credit crisis ensued killing the market in two thousand and eight we're now in bubble number three. In all likelihood this market needs to go lower reverting back to the mean the historical average would take the SNP down to a stomach churning drop of thirty eight percent. So it can go higher long term. If you have the time. This would take you back to September twenty thirteen wiping out five years of gains and the last third scenario where stocks are discounted for the prospect of a recession in the coming two years fears the most logical right now recessions typically reduce corporate earnings by an average of twenty to thirty percent such that a dropped from today's level would give the SNP downside of about thirty percent. If you're in this retirement, red zone of two to ten years for retirement, a falling market in the last few years before retirement or in your first few years into it cannibalize is your nest egg due to retirement killer, one sequence rest the secrets of when you take losses. Relative to

Alan Greenspan Thirty Percent Thirty Eight Percent Five Years Ten Years Two Years
Dow's drop marks longest skid for blue chips in 3 months, amid Brexit and falling Apple shares

Politics, Policy, Power and Law

00:37 sec | 4 years ago

Dow's drop marks longest skid for blue chips in 3 months, amid Brexit and falling Apple shares

"Of the day weakness in technology again, apple for example, down two point six percent. The NASDAQ one hundred index down seven tenths of one percent. Former fed chair. Alan Greenspan says a rising US debt-burdened could derail the card expansion and warned the tight labor. Market could lift inflation. I think it's a different. Recalled stagflation. Had some of the characteristics

Alan Greenspan United States FED Apple One Percent Six Percent
Talk of entitlement reform takes over as midterms near

Joe Walsh

04:31 min | 4 years ago

Talk of entitlement reform takes over as midterms near

"There were not politically, correct. But they've done what needed to be done in order to unleash the animal spirits. Alan greenspan's. Alan Greenspan, Stephanie. It's pretty tough to argue with him. Are you sure he said he loves the Trump tax cuts or you gotta sit there constructive. Now. He loved he loved it. They were politically incorrect. Now, what he doesn't love is that we haven't done entitlement reform to accompany them. I wanna you know, it's coming to that. But he loves the Trump tax cuts one of the things about entitlement reform that we need is it surprises me the young people. Don't get more engaged on the entitlement reform ya you know, they sort of latch onto issues that are very very popular in the news. Entitlement reform or something I think people should really care about. Listen, the issue with the tax cut is it's a clear positive for corporate America. The tax code as it was far too complicated. But the amount of taxes that they cut you could ask Jamie Dimon. He will say, listen, I'm glad we got the tax cut. We didn't need it to be as much as it is because we are facing a massive deficit, and as far as the tax cut goes we're seeing corporations do so well two weeks ago. I the business council summit there hasn't been a hundred fortune five hundred there tickled pink, and they're saying they're spending there investing hiring and even without the tax cuts. Deregulation has been a huge positive for corporate America because remember in the Obama administration. It was not a pro business administration. And even if companies weren't faced with new taxes, the threat of regulations of threat more could be coming down the pike was preventing companies from spending. You're definitely seeing corporate America in a very good place book at the stock market one of the reasons the stock market is doing so. Well, suddenly. Corporations have twice as much cash on the books. So it is a positive obviously have a very tight labor market time to see wages push up more than they have this far. So Stephanie role year in the second bluest bubble in America. I always think that silicon valley's a bluer bubble the Manhattan, but I just had Marsha Blackburn on she's had a nineteen point swing in her direction over two weeks, Heidi Heitkamp has fallen apart. And she did a pratfall releasing the name of abuse survivors against their will yesterday that is blowing up. You've got mic. Sally surging ahead of cinema. Do you sense that the blue tide is a thing of the past? And that in fact, we're looking at it read time, I've talked about this a lot. I've never seen a massive Blue Wave coming thing that distresses me isn't are we going massive, bluer massive read the thing that distresses me is the hollowing out of the center on both sides. That is what I think is the most concerning and I think we're seeing it in both parties. Did you read David Brooks piece yesterday about the eight percent on the left? China today. Oh, are you really? Because that is that's the most interesting thing. But the noise comes from those two groups, that's the note, and by the way, our cable channels both left and right that noise. I don't know how we're ever going to break out of this you you are one hundred percent, correct. On a us. An example for you on Monday when I woke up I wasn't on TV. I heard what not the media thought of what Hillary Clinton said on Monday on Sunday about her husband, and Monica Lewinsky. Okay, saying it was not an abusive power. So I said via Twitter take something clear what the president of the United States has a sexual encounter with an intern. It doesn't matter how she behaved, blah, blah, blah. That's an abusive pallet. I'm not saying I'm not saying it's a soft. It is an abuse of power. When I tell you, Hugh, I got a nihil lead on Twitter, and I should hold on a second. Because of course, I've wanted what about Trump what about companies both things can be true abuse. Power is not unique to one industry wants sport, one one nation or one political party. But the tribalism we are seeing the absolute forgiveness of one side and an assault of another. Stop. It's unreasonable. It is going to be very difficult to break away from the profit motive of super serving the six in the eight percent. But I'm glad you're doing the David. That's what that's why I watched up and he going do the David Brooks. Brooks column is the smartest thing I've read in ages. Hey, man payments. Definitely real good to talk to you s rule on Twitter American, of course on MSNBC. Don't go anywhere. I'm coming right back America time to keep talking about these midterms. The red tide is coming everything

Alan Greenspan America Twitter Stephanie Heidi Heitkamp David Brooks Jamie Dimon Monica Lewinsky Hillary Clinton Donald Trump Obama Administration Marsha Blackburn Msnbc Manhattan Assault China Hugh United States
Could Social Security Actually Run Out of Money?

11192 Show

01:37 min | 4 years ago

Could Social Security Actually Run Out of Money?

"Ray Lucia show. And that is where I want to begin today. A brief discussion about social security starting with a brief history. And then we'll get into some of the other issues that I think are also important at least as it relates to your retirement is a social security and insurance policy or can it be treated as an investment? We'll cover that. Dr wait vows done a great job of this going back to two thousand fifteen he wrote a brief history of social security. There's no way I could do it Justice without stealing from his stuff. So I will. But he points out a couple of things that a lot of people neglect to realize and that is that social security benefits that are not just for retirees there's benefits for disabled workers. Spouses, young children of deceased or disables worker disabled workers spouses survivor benefits. It was not always that way. Remember, another original social security act of nineteen thirty five and it created retirement benefits. Only four the retired worker became eligible at age sixty five those ages have now changed to sixty six or sixty seven depending on how old you are. Right now. Younger millennials. Of course, we'll have to wait until they're sixty seven. My full retirement age is sixty six for social security purposes. Now in one thousand nine hundred eighty nine congress, then passed amendments to extend benefits to spouses and minor children. And this is what happens in politics. Once you start giving away benefits. The giveaways expand. I'm not suggesting that's bad. I'm just suggesting that it is a fact of life. And now, it's become a major problem. The nineteen seventy-five social security trustee report estimated that the old age survivors disability insurance trust funds would be depleted by nineteen Seventy-nine magin that we're in two thousand eighteen and it was a problem and seventy seven congress enacted amendments to deal with the impending financial problems. The amendments increase the payroll tax increase the amount of income eligible for the payroll tax and reduce the benefits slightly this fixed. The problem until the economic slowdown of the early nineteen eighties which meant the trust fund again faced a serious short term. Funding problems is starting to sound a tad bit familiar back then Alan Greenspan, who has you all know was the longest serving. Federal Reserve chairman. Headey commissioned to examine the problem in nineteen eighty three. The Greenspan commission called for and then congress subsequently passed into law a gradual increase in the full retirement age from sixty five to sixty seven as I just mentioned. They also increase the social security tax rates. And now, you know, where we stand today social security charges twelve point four percent. Medicare, of course, charges two point nine percent. Those numbers are split evenly between the employee and the employer. Meaning that if you are both yourself employed. You have a fifteen point three percent bogey on one hundred percent of your income up to nearly one hundred and thirty thousand dollars. Think about that one. You make one hundred and thirty grand any get clipped by fifteen percent of that ten percent will be thirteen thousand at another sixty five hundred dollars six thousand nineteen. Hey roundup. It's twenty thousand bucks in it increases every year with a little inflation. Bob. Think about a self employed one hundred and thirty thousand bucks twenty grand right off the top only half of which is income tax deductible. Is one of the reasons why we talk so often about incorporations and defined benefit plans. And all that stuff back. I've got an Email on that very subject. I'll go on it should come. As no surprise says Dr foul that funding shortages will happen again at some point. Social security. United States is meant to be a pay as you go. Meaning each generation of current workers pay for the benefits of current retirees three trends will make this task increasingly difficult despite the presence surpluses and those surpluses are dwindling. Sorry I had to get a slug of caffeine. I the baby boomer cohort is of unprecedented size and is currently reaching traditional retirement ages. Yeah, that's me. I should be retired. But I'm not gonna do it. Well, I'm sort of semi. Although it doesn't feel like semi. Although I, you know, I take a couple of days off here in a couple of days off there. But I'm still pretty much working. And that is the solution, by the way, keep working. Anyway, let me move on. Because this is interesting stuff. Second life spans are becoming longer. Meaning retiring baby boomers will have long retirements. That's right. Third fertility rates are decreasing during night of the baby boom women were having between three and a half and four kids on average during their lifetime. The thousand fifteen trustees report expects the long run for tilde rates, the United States to be just to know words, rubbing half as many babies, therefore that's half of many working stiffs paying for those of us that are theater, theoretically, getting a social security benefit. In two thousand there were four workers per retired beneficiary this had fallen to three and a half workers by twenty fourteen. And it's predicted that two point six contributors per retiree. By twenty thirty and other words for every retired person two and a half people have to go to work to pay for that person that is unsustainable with recipients of disability benefits added in they expect that number to drop the two point two percent for every working person that gets social security benefits. There will need to be two people working. Now.

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