(2007-09-16) — On the eve of the release of former Fed Chairman Alan Greenspan’s memoir, President George Bush issued a warning against “irrational exuberance” based on excerpts of The Age of Turbulence released through the media.
News reports have buoyed the hopes of Bush opponents based on tips that Mr. Greenspan portrays the president as a shallow-thinking, political animal who ordered the invasion of Iraq to get Saddam Hussein’s oil.
“Of course, any book critical of me faces bright sales prospects,” said Mr. Bush, “But, to quote Mr. Greenspan, how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions? ”
“In other words,” the president added, “as exciting as it might be to reinforce your own bad opinion of me, to find it you’ll have to plow through 544 pages of nostalgia written by an economist. I hate to burst your bubble, if you know what I mean.”
Penguin Press timed the book’s release to coincide with the year’s most important meeting of the Federal Reserve, and scheduled interviews with the octogenarian author on 60 Minutes and with all of the major media outlets.
However, market forces have already impacted the $35 memoir’s discount rate, with Amazon.com setting a price of $23.10. Experts predict a steady decline in value over the next several weeks.
14 responses so far ↓
1 Maggie // Sep 16, 2007 at 7:27 am
((((OIL))))))?….You’re kidding? Right?
2 JamesonLewis3rd // Sep 16, 2007 at 7:59 am
God Bless America
3 Ms RightWing, Ink // Sep 16, 2007 at 8:01 am
Now that sounds like an exciting read. Not
4 JamesonLewis3rd // Sep 16, 2007 at 8:18 am
“…..544 pages of nostalgia written by an economist…..”
Oh. Boy.
5 Darthmeister // Sep 16, 2007 at 10:16 am
I wonder when this senile old man will write his memoirs concerning his belief 9/11 was an inside job and the war in Afghanistan was over building a natural gas pipeline?
I believe his left-wing “journalist” wife, Andrea Mitchel, has a lot to do with turning this old fossil to the dark side of the force.
6 Fred Sinclair // Sep 16, 2007 at 10:29 am
If we had taken over Iraq and nationalized the oil industry ala Chavez.
If we had started sending oil tankers back to the US filled with what was now OUR oil - (Who was going to stop us?).
If our newly acquired oil dropped the price of gasoline in America to a quarter per gallon ($0.25 gas might cause more Americans to support the war).
If, and that’s a big “IF” that had happened, then I would agree with Mr. Greenspan. In the meanwhile it would bode him well to stick with his economist role and not venture further into the field of Science Fiction.
And speaking of Science Fiction the following is NOT Science Fiction:
Who’s Who of dirty (illegal) money bwo: NewsMax
A list of politicians who received money from Hsu, published in the Wall Street Journal, includes these prominent Democrats:
Massachusetts Sen. Ted Kennedy
Illinois Sen. Barack Obama
New Mexico Gov. Bill Richardson
Massachusetts Sen. John Kerry
Minnesota Senatorial candidate Al Franken
Florida Sen. Bill Nelson
West Virginia Sen. Jay Rockefeller
California Sen. Dianne Feinstein
Rhode Island Rep. Patrick Kennedy
Former Tennessee Rep. Harold Ford
Former Iowa Gov. Tom Vilsack
Nevada Sen. Harry Reid
Iowa Sen. Tom Harkin
New Jersey Sen. Frank Lautenberg
Pennsylvania Gov. Ed Rendell
California Sen. Barbara Boxer
New York Sen. Mrs. Bill Clinton
Heirborn Ranger
7 Ms RightWing, Ink // Sep 16, 2007 at 11:29 am
For those who love old time radio, such as the Ol’ storyteller does, this is a great site I got from Kim Komando. I especially love the detective shows (right Beernme)
Nick Danger Private Eye!
There are more radio shows than you can listen to in a lifetime. I pasted it in my favorite box so when I crawl in bed I can be lulled off to sleep with a little comedy or suspense. Ahh, another great point about being single.
http://www.freeotrshows.com/
8 Effeminem // Sep 16, 2007 at 12:19 pm
Hm, Iraq has more to do with oil than our civil war had to do with slavery.
9 camojack // Sep 16, 2007 at 12:39 pm
“I hate to burst your bubble, if you know what I mean.”
Sure do.
10 onlineanalyst // Sep 16, 2007 at 3:16 pm
Of course Iraq had to do with oil, Effeminem (and Greenspan). To allow Saddam to fund his aggressive hegemony and destabilization of the ME through support of terrorism via his nation’s oil wealth jeopardized not only our national security but that of all of the world’s markets. The same problem of using its oil wealth to spread its own version of terrorism and Islamization of the world is the problem we also face with Iran.
Well, duh! Oil’s importance is critical to manufacturing and transporting of goods besides its role in fertilizers. Food production is affected, as is heating/cooling. Fueling automobiles is only a tiny part of the equation.
The world’s security cannot hinge on the whims of madmen with a quest for ultimate power (and greed) who blackmail nations through threats of terrorism.
11 conserve-a-tips // Sep 16, 2007 at 4:53 pm
I would say that, yes, this war was about oil in a major sense of the word. And I’m thinking that everybody knew that. if Iraq’s in house nutcase had continued to bribe officials of other countries with the oil for food mess, and if he had been toppled by Al Quaida, then the income from those fields could have funded the most dastardly acts imaginable. I m sickened by the politics being played in Washington. Who’s side are these nimrod liberals on? It sure isn’t the US’.
12 Ms RightWing, Ink // Sep 16, 2007 at 6:28 pm
push
13 lighthorseman // Sep 16, 2007 at 8:44 pm
Somewhere in Greenspan’s tome he must have also accused Cheney of staging 9/11, right, or maybe accused “W” of being a poor pilot who missed the twin towers? Greenspan’s god-like status has always amazed me. He received too much credit over too many years. I’m glad his out to pasture. I just wish no one had given him any crayons.
14 hersheybosco // Sep 18, 2007 at 8:20 am
One wonders…what would Ayn Rand think?
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