But two days later, on December 5, 1996, Mr. Greenspan, the chairman of the Federal Reserve, wondered in a now-famous speech whether "irrational exuberance" might be infecting the stock market. And Mr. Shiller saw his influence at work. ... They say: 'What you argue is interesting, but I bet stocks will go up.
cowles.econ.yale.edu/news/shiller/rjs_00-03-30_nyt_knew... cowles.econ.yale.edu/news/shiller/rjs_00-03-30_nyt_knew.htm
Both heaped a ton of scorn on Alan Greenspan who, they say, believed that markets were always perfect and therefore didn't require any regulation. ... And despite Greenspan's "irrational exuberance" warning, he was generally a believer in the fantasyland.
www.businessinsider.com/remember-alan-greenspan-warned-... www.businessinsider.com/remember-alan-greenspan-warned-of-irrational-exuberance-2009-9
KWAME HOLMAN: Greenspan's comments about irrational exuberance and unduly escalating stock prices came after the New York stock exchange had closed, ... JIM LEHRER: Now, David Jones, you are experienced at watching Alan Greenspan and listening and parsing his words. He's known as a man who doesn't say anything accidentally.
www.pbs.org/newshour/bb/economy/december96/greenspan_12... www.pbs.org/newshour/bb/economy/december96/greenspan_12-6.html
A Greenspan pronouncement on, say, the country's gross domestic product may send our stocks and bonds roaring or reeling. ... Instead of irrational exuberance, Greenspan now has to worry about irrational pessimism that can result in a self-fulfilling prophecy of financial decline.
articles.sun-sentinel.com/keyword/irrational-exuberance articles.sun-sentinel.com/keyword/irrational-exuberance
Irrational Exuberance; An infamous phrase uttered by Alan Greenspan in 1996 to describe the overvalued market at the time. ... Search another word or see irrational exuberance on Thesaurus | Reference...
dictionary.reference.com/browse/irrational+exuberance dictionary.reference.com/browse/irrational+exuberance
On December 5, 1996, Alan Greenspan gave his famous Irrational Exuberance speech. ... Whatever legislation that results from this fiasco should recognize clearly and succinctly from whence all this wealth originates–which is to say, from the millions of tiny decisions ordinary people navigating the vicissitudes of life...
www.ritholtz.com/blog/2009/03/irrational-exuberance-we-... www.ritholtz.com/blog/2009/03/irrational-exuberance-we-are-now-below-it/
But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade? And how do we factor that assessment into monetary policy? ... It’s time to say, Goodbye Mr. Greenspan.
www.davidstuff.com/opinion/greenspan.htm www.davidstuff.com/opinion/greenspan.htm
I have been dealing with these big mathematical models forecasting the economy, and I am looking at what is going on in the past few weeks and say, you know if I could figure out a way to determine weather or not people are more fearful, or changing to ... Alan Greenspan was recently interviewed on the Daily Show.
www.seobook.com/google-lets-you-tap-fears-and-dreams-fr... www.seobook.com/google-lets-you-tap-fears-and-dreams-free
Remarks by Chairman Alan Greenspan ... I wish I could say that there is a bound volume of immutable instructions on my desk on how effectively to implement policy to achieve our goals of maximum employment, ... But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected...
www.federalreserve.gov/boarddocs/speeches/1996/19961205... www.federalreserve.gov/boarddocs/speeches/1996/19961205.htm
Anna Schwartz, the revered economist, shares her views on the credit bubble with Ambrose Evans-Pritchard. ... Good article. The interest rates cuts were overdone. And as Alan Greenspan would say created "irrational exuberance".. Problem now is to keep things moving without stoking inflation..difficult...
www.telegraph.co.uk/finance/comment/ambroseevans_pritch... www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/2782488/Anna-Schwartz-blames-Fed-for-sub-prime-crisis.html