Fortunately, the world was spared from O.J. Simpson’s book “If I had done it.” Unfortunately Alan Greenspan’s book with the same title has already been published and is climbing up the best sellers’ lists. Ron Peebles describes in a somewhat humorous manner Greenspan’s contributions to our biggest bubble to date – the housing bubble.
Source: Prudent Bear . com
by Ron Peebles
People are always asking me about bubbles. Like do I believe in bubbles? And how do you blow them?
Well, I’m not sure I have all the answers on bubbles. I’m just a former central banker who spending his twilight years playing bridge and looking at the correlation coefficients of economic variables. Typical retirement stuff. So when it comes to bubbles, I don’t know. A few years ago Beannie Babies got a little out of hand, but you know, the market is the market and who’s to say what’s a fair price?
Back in the day, some people thought I had the power to make things happen, you know, like I was Bono or something. If you want to know the truth, I spent a lot of time sitting around a big table shuffling boring academic papers and wondering why the hell we couldn’t get some decent coffee.