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Monday, July 15, 2024

Greenspan – Guardian of 10,700

I am becoming convinced that Allan Greenspan’s mission in life is to make sure the Dow does not break 10,700 again on his watch.

Today, just when the Dow was up just over 10,700, he tells the Mexicans that foreign governments won’t keep buying dollars at this pace – just 2 days after we had a great auction!

Whenever things don’t go his way, he starts jawboning to get things his way – thank goodness we are done with him soon!

Does anyone remember about a year ago when he was telling people that ARMs were a good tool to purchase a home with?

http://www.suntimes.com/output/savage/cst-fin-terry045.html

Then he raises rates a point and a half on all the people who took out ARMs…

Who does this guy actually work for? Maybe we can distract him from doing any more damage by throwing him a bunch of retirement partys…

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