Happy Valentines to all Financemanila readers. Here's a feel-good-treat for everyone, a tribute to happiness, and our need for affirmation from everyone.
Greenspan: I Was Wrong
February 7, 2009 By Leave a Comment
Alan Greenspan was on C-Span in October testifying before a congressional committee on the root of the financial crisis. In this video, he is interrogated by Congressman Henry Waxman, Chairman of the Oversight and Government Reform Committee.
It is important to note here that Alan Greenspan is a proponent of market deregulation and personally subscribes to the philosophies that espouse individual rights and freedom. What I find interesting is how the market crisis has seemingly shaken Greenspan's ideas on capitalism and self-interest.
Note at 3:36, when Rep. Waxman asks: Where did you think you made a mistake?
Alan Greenspan's somber reply:
Glenn Beck on Hockey Stick Inflation
January 31, 2009 By Leave a Comment
Marc Faber Last November
January 19, 2009 By 1 Comment
This Bloomberg interview last November 2008 of notorious bearish commentator Marc Faber shares his thoughts on the recent recovery of global stock markets . Faber reveals some of the dynamics between the U.S. Dollar and asset markets, and how they move in opposite directions.
Faber also shares his criticism of monetary and fiscal policy in reaction to the financial crisis–which are all geared towards consumption, when he mentions the solution is to improve savings rates and production rates, similar to Peter Schiff’s comments. He also criticizes the bailouts of banks financial institutions which practically exonorate their bad investment and lending practices which created originally the housing bubble and the subprime mortgage bubble and subsequent crash.
Peter Schiff Proves Everyone Wrong
January 19, 2009 By Leave a Comment
Nassim Taleb and Benoit Mandelbrot On The Current Crisis
January 19, 2009 By Leave a Comment
Skeptical empiricist Nassim Taleb joins one of his mentors: Benoit Mandelbrot, who pioneered fractal geometry and contributed to Chaos Theory, in criticizing the existing tenuous situation of the financial markets and the global economy. They highlight some of the key fallacies that economists and bankers believe–which is precisely the mindset that has prevented the financial industry from correctly appreciating risk and anticipating the current crisis:
- People believe that changes in history and in markets happen in small gradual increments, when the truth is that most of the time nearly nothing changes, and then all of a sudden a large unexpected change in the dynamics occurs which no one correctly predicted.
Pacquiao: I Demolished Dela Hoya
December 9, 2008 By 1 Comment
John McCain’s Concession Speech
November 6, 2008 By 1 Comment
Recent Comments