investmentwatchblog.com / FEBRUARY 21, 2017
The FED presided over the dot.com bust and 2008, unaware that they were happening and of their consequences.
Alan Greenspan spots irrational exuberance in the markets in 1996 and passes comment. As the subsequent dot.com boom and housing booms run away with themselves he says nothing.
Loans create money and repayments destroy money.
This is what the run-up to 2008 looked like ……
Everything is reflected in the money supply.
The money supply is flat in the recession of the early 1990s.
Then it really starts to take off as the dot.com boom gets going which rapidly morphs into the US housing boom, courtesy of Alan Greenspan’s loose monetary policy.