ALAN GREENSPAN: "THE FINANCIAL SYSTEM IS BROKE!" 8-2-2010

[ColKorn1965]

The system is broke and guess who helped to break it? The Evil Greenspan himself.

[graham640]

this man and his evil co hearts removed regulation from the banking system so capitilistic bastards can make money now the whole world is paying for this mans greed screw him screw capitilism

[spiglator]

This stupid SOB belongs in prison. The Fed should have lowered rates a half a point right after Hurricane Katrina when oil went through the roof. This asshole just kept raising the rates. He should just shut up already.

[EMPIRE0FLIES]

This is going to be very bad.

[solvssod]

tresurery  dept somewhat ? they dont have power over shit ! its the feds stop paying all taxes

[yang2enator]

Alan Greenspan, the greatest libertarian sellout. Alan Greenspan was all for the gold standard and abolishing the federal reserve. He understood it was interest rate manipulation and overleveraging that caused booms and bursts. I guess the Fed needed someone competent who did not actually buy into the Fed's Keyensian propaganda to run their cartel. I guess Alan Greenspan must have been like "this isn't all that bad", and sold out when he became chairman.

[veniceit1]

THE FINANCIAL SYSTEM IS NOT WORKING? O. K. SO HOW MUCH LONGER DO WE HAVE BEFORE THERE IS A TOTAL FINANCIAL COLLAPSE/DEPRESSION. OBAMADANISM HAS SET AMERICA ON A COURSE THAT IS TAKING THE SHIP OF STATE/ECONOMY OVER THE WATERFALL. WHY ARE AMERICAN POLITICIANS DELIBERATELY SCUTTELING AMERICA AND DESTROYING AMERICAN FAMILIES AND WORKING PEOPLE. IS IT ALL JUST A SPECIAL INTEREST {MONEY} THING FUELED BY OFFICE HOLDERS/POLITICIANS LUST/GREED. THEY GET PAID WELL BY THE TAX PAYERS BUT THE SYSTEM IS BROKE

[traynickel]

@veniceit1 Throughout history all paper currencies have failed. It's just end game for the dollar and any currency attached to it. Peak Credit, Peak Oil, and Peak OTC Ponzi Derivative Printing Press Debt Obligations........

[drkevincampbell]

We are entering a Deflationary Depression. Wake up America. No lending, No spending, No jobs. Falling prices. DEFLATION....Any questions?

[pat52010]

@drkevincampbell Your right except in some places like Vegas, the banks are holding many properties at inflated prices, not all but many!! When those real estate prices drop to much lower levels, people will start buying again. The banks might as well start auctioning these properties, that make no money, both residential and commercial.

[yang2enator]

@drkevincampbell This is deflation before the Storm of Hyperinflation. Milton Friedman won nobel prize for explaining hyperinflation due to excess curreny printing. All third world countries expanded money supply, leading to hyperinflation, when monetary system begins to deleverage. Our monetary system is facing complete deleverging in 2 to 3 years, when that happens, bet your money on Hyperinflation. Whyyy? because all politicans feels safer with hyperinflation than deflationary deleverage.

[drkevincampbell]

@yang2enator I think your time table is correct. I see hyperinflation cycle beginning in 2013 after the deflation cycle drives the markets and real estate into the ground.  The worry is, we could prolong the deflation cycle and create a lost decade as Japan did. So far, according to ecoonomist Richard Koo, we are following the exact path as Japan.

[yang2enator]

@drkevincampbell I absolutely agree with you. I have the exact same worries for a Japan style lost decade. When I look at the data, I think our overleveraging will have to self correct in 2-3 years. Just my guess. Our government has guaranteed too many loans, deposits and bonds. Japan had an enormous savings rate, so the gov can borrow that for bailouts. We have negative savings rate now, so our government can only print to pay off its guarantees. I think its likely they will print.

[tothemax01]

@drkevincampbell How do I profit from it?

[drkevincampbell]

@tothemax01 Stash cash and short the market using inverse ETF's. I expect the stock market to crash at least 60%, perhaps by 80% within the next 6 months. Holding inverse ETF's like FAZ, SKF, DRV, ERY, DXD and others will pay you double and triple returns on a market collapse. and trust me, it's going to crash. Most important is to keep cash under your mattress. When this deflation cycle drives home prices down another 50%, you will be able to buy property on the cheap.

[tothemax01]

@drkevincampbell Cheers mate, nice one. Ill have at look into this stuff. What is your opinion on holding commodities instead of cash? Whilst houses may be going down in value, the dollar is simultaneously being expanded by the fed, which it appears is pushing up commodity prices. Also, how about holding yuan?

[88888FORCE]

THE FINANCIAL SYSTEM IS BROKE! SAYS ALAN GREENSPAN 8-2-2010

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[MegaTriumph1]

Greenspan has no idea what will happen. he's out of that loop. He does know debt. I feel that he understands that the debt problem is a interesting problem. Will they kick the can down the road like before. More Bailout money. He's right it is Broken nothing another Bailout can't fix. Or will it fix it.

[Doenietmeermee]

To be able to leave a comment for support ; you have great vids and I am sorry something is jumping your counter, keep going :)