On Mr Greenspan's watch, America has also experienced the biggest stockmarket and housing bubbles in history.
Fisher would say there is no housing bubble when people are talking about housing bubbles.
For example, the Fed could pop housing bubbles by imposing a maximum loan-to-value ratio for mortgages.
That sound advice worked well through the dot-com and housing bubbles and the 2008 market meltdown.
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Historically low interest rates have fuelled housing bubbles in America and many other countries around the globe.
The other is quite different: booming states, such as Florida and California, where the subprime bonanza fuelled the biggest housing bubbles.
Housing bubbles that contributed to growth in several European countries have burst.
They remember the tech and housing bubbles and are worried that a new bout of inflation would hurt them badly.
Housing bubbles arise when dumb bankers are willing to issue six-figure mortgages without asking questions and make home equity loans at inflated rates.
There is a stronger case for restraining housing bubbles than stockmarket bubbles, because they tend to cause greater economic harm when they burst.
We also need fundamental reform of the Federal Reserve to end its undisciplined powers to created repeated housing bubbles and boom and bust cycles.
Australia and Britain both experienced housing bubbles, he notes, but the slowdown in spending was not as drastic as expected when the markets turned.
It looks like once again the Fed will be dangerously behind the curve on a bubble, as it was in the stock market and housing bubbles.
He particularly respects Robert Rodriguez, manager of the FPA New Income Fund, in Los Angeles, who took heat for calling the dotcom and housing bubbles before they popped.
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If anything, after the dot com, technology, and housing bubbles and financial system meltdown, the nation seems to be craving exactly the type of investment that Social Security represents.
By design as well as luck, much of continental Europe avoided the debt-fuelled housing bubbles that popped spectacularly in Britain and America (though Spain did not, see article).
The bursting of the commodities and housing bubbles would not have threatened the very existence of our financial system had it not been for the perversity of mark-to-market accounting rules.
Which means: If a majority of people are talking about a subject, whether housing bubbles or terrorism, you can be sure that the market has already priced the popular consensus into prices.
We have a foundation economically upon which to build in the 21st century that doesn't rely on financial bubbles or housing bubbles or .com bubbles, but relies on strength in our manufacturing sector, strength in education, strength in innovation and strength throughout the country economically.
Both countries suffered from massive housing and construction bubbles and a subsequent dearth of jobs for temporary workers.
It is quite understandable given the housing and stock bubbles we all experienced over the past decade with plenty of lingering aftershocks.
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The biggest changes will take place in America and parts of Europe, where housing and stockmarket bubbles have imploded and unemployment has soared.
When the financial crisis struck, they were blamed for allowing the housing and credit bubbles to build, and for failing to foresee the bust.
Those interventionist policies fueled massive capital malinvestment including housing and credit bubbles, all of which culminated in the greatest economic bust in 80 years.
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You know, they've taken a lot of criticism for having moved too slowly in the last tightening cycle and for fueling the housing and credit bubbles.
The enormous amounts of liquidity that led to the housing and commodities bubbles of recent years cannot be blamed on thrifty Chinese but on the excess money creation of Greenspan and Bernanke.
Even before the housing and credit bubbles burst, the past several decades saw a number of tectonic shifts that affected retail banking, such as the explosion of credit-card use, the creation of electronic banking, and the decline of paper checks.
We have to work our way through the aftereffects of the twin bubbles of housing and the credit crisis bursting.
This survey will conclude that the latest housing boom has inflated bubbles in several countries, notably America, Australia, Britain, Ireland, the Netherlands and Spain.
For the time being, their rise will be most notable in "the zone of sanity, " the vast range of territory between south Texas to the Great Plains, which largely resisted the housing and stock asset bubbles of the past decade.
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