Five Simple Steps to Becoming a Billionaire: The Greenspan Method by Johnny Debacle
1 Become Fed Chairman
2 Lower interest rates until you create an asset bubble. Hold them low until stagflation is in the air and a real estate bubble is floating
3 Stop being Fed Chairman and release a book on how you didn’t do anything wrong and have no regrets. If possible, time it perfectly with the worst real estate market in generations
4 Join the hedge fund which has profited more in % and dollar terms than anyone else has from your mess (which you didn’t create)
5 Build a platinum statue of your muse, Ayn Rand, and sleep with it every night
It also helps if you are mostly unethical.Addendum: Look at this quote from Greenspan from the WSJ’s Real Time Economics:
“Q: All three of your clients — Pimco, Deutsche Bank and now Paulson — were bearish early on housing and mortgages. Is there a connection?A: I hadn’t [noticed] until you just raised the issue.”
Greenspanspeak is code for self-serving disingenuousness.
mercredi 16 janvier 2008
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The Greenspan method