Part I of Paul Volcker, former chairman of the Federal Reserve, one of the wisest men on the economy. In part one of this conversation, he sheds light on the global economic crisis, how we got here, where we are, and what is next for us
(If video doesn’t run, then click here for WMV player)
The market does not beat them. They beat themselves, because though they have brains they cannot sit tight. ~Jesse Livermore
Without getting into a discussion on healthcare and its politics, one reality of our soon to be new system is the inevitable further rise in government spending that is headed to 25% of US GDP from its long term average of about 20%. In order to finance this, there will be a smaller private sector and as a result, there will be slower economic growth as nothing is for free. Should the average P/E ratio over the past 100 years of 15x still apply going forward or should there be a revaluation of the multiple paid for US corporate earnings?...
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September 30th, 2009 at 9:16 pm
The link doesn’t work, but I saw him tonight on Bloomberg via Charlie Rose.
He’s a lovable owl.
September 30th, 2009 at 9:35 pm
Barry, can you post the Charlie Rose video?
(I am really disappointed with Obama’s decision to ignore Volcker’s advise. If I were Volcker, I would resign from President’s council or whatever his title is, especially before everything goes to shit on the next leg down. You know? If the guy is going to ignore your advice, what is the point in hanging around. Screw it….Your baby dude, I’ll see you later! I’m checking out.)
October 1st, 2009 at 10:31 am
The video is temporarily here:
http://charlierose.http.internapcdn.net/charlierose/092909.wmv