Wednesday, March 08, 2006


I've missed getting this chap's spam since alan Greenspan stepped down as chairman of the Federal reserve. From the last missive:

"As the retrospect is now only hours away, we might now, try to understand GreenSPan nature & Behavior.

This article explains and show the coherence of the strategy of GreenSPan since the famous Irrational Exuberance, till the end of his tenure at the Federal Reserve.

I show that during that decade he had only one goal: avoid the systemic risk of Keynes' Liquidity Trap.

His strategy consists in waiving the flags of non-systemic risks in order to increase the rates associated with the concerned assets and thus keep long-term interest rates above Keynes' Liquidity Trap."

As far as I can tell, the screed was a bizarre mixture of millenial theology and economics 101. All of it meticulously researched, stupidly long, and designed to bring one to invest in an Israel shekel-linked post-crash currency unit. Worryingly enough, the premises were not that far removed from those of Morgan Stanley's chief economist.

Alas, the author appears to have moved on. Hopefully not to death or bankruptcy. The google cache is still there, though. We'll miss you, crazy Greenspan-freak, you!

Sounds like a case for the rejuvenated Felix Salmon to me.


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