GRIFTOPIA

by Matt Taibbi

Matt describes the process of bubble economy formation and its collapse in the U.S.A. since Alan Greenspan took office at FRB in August 1987.

He cut the funds rate inviting people to stock market in 1990s. Shortly after bubble popped.

In late 1900s, he deregulated financial markets leading housing bubble.

What’s next? Commodity. Commodity Exchange Act passed in 1936 was watered down by exceptions resulting oil market speculative.

Stock, real estate, commodity then what else left? Now highway in Pennsylvania and parking meters in Chicago are on sale/lease. It sounds crazy!

There are lots of “F” words in this book making his point effective however, may not be recommended to “noble” readers.

JP(http://d.hatena.ne.jp/fbrev/20110510)