Marzo 19, 2007
Should Greenspan have a blog?
Many in Wall Street, the media and the government have disagreed on Greenspan publicly providing forecasts on the economy. According to Greenspan, there is 33 % percent of probability that this year the US will go into a recession within the year. Where did he get this from? Which dice did he use to calculate that probability? Probably just a dice with six faces and recession written on two of them. Markets moved and surely Bernanke was not very happy. Bernanke wants transparency. But how can this be done with these interferences. His probability assessment came two weeks ago, but this week he extended his road show and in Boca Raton he extended his comments. Greenspan said that subprime problems will spill over to other sectors. The Dow Jones got a hit but it soon recovered.
Many see these speeches as improper talking. They recommend that Greenspan should act the way Paul Volcker did when he was replaced by Greenspan. Volcker just disappeared from the public. The most interested suggestion on how Greenspan should act comes from Kevin Hassett, an economic journalist. He suggests that Greenspan should set his own blog: “Greenspan needs to enter the information age he has spoken so wisely about in the past. He needs to start a blog. To protect himself against the appearance of impropriety, he could draw on the blog when he speaks publicly, and fully inoculate himself against harmful accusations. He could even sell advertising.”
No doubts that Mr. Greenspan carries a lot of human capital built up while he was chairman of the Fed, and this cannot just be left unused. But he has to leave Bernanke fill his job and the Fed to have one voice. The blog is one alternative, but I am sure there are others equally good.
Posted on 19 Marzo 2007
in Financial Markets
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Comments
Secundo la noción. Que ponga Gresspan su blog, y así por las mañanas mientras desayuno en lugar de escuchar la radio..o a la vez..(no sé..soy hombre) podría leer los comentarios sobre la economia que este "experimentado" experto nos contase.
Quizá así pudiera aprender algo, y dejar de quemarme porque el euribor sigue subiendo, la hipoteca en consiguiente también, y el sueldo no se mueve.
Pero, dado que soy de la generación del consumo inútil, terminaría comprando todo los que anunciase en la página y no aprendería nada de utilidad..y aumentarían mis gastos... no sé...
Hay tantos respondables, presidentes, etc.. que no saben "dejar su butaca". Posted by: Rafa at Marzo 20, 2007 08:14 PM
Sería interesante que todos los ex-jefes de la reserva federal hablen de la economía. De esa manera tendrían la experiencia para hablar de finanzas pero ni la carga política ni la prudencia que un puesto público en ejercicio necesita. Posted by: Finance at Mayo 15, 2007 04:54 PM
It looks like everyone is opening their own blog nowadays. There are many benefits of blogging and currently my whole portfolio is Wordpress blogs.
Hopefully the market continues loving blogs. :)
-Scott Posted by: Finance Articles at Mayo 4, 2008 04:44 PM
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