"There is no question at this stage that the momentum of this economy, leaving
out the oil price issue, leaving out the Euro problems that have emerged, and
very specifically leaving out the budget problems, this economy is really beginning
to pick up momentum. The fascinating issue for forecasters is how do you factor
in all of the negatives."
- The King Report, March 8, 2011, quoting from former Federal Reserve
Chairman Alan Greenspan's "Guest Host" appearance on CNBC (also known as The
Comedy Channel), March 9, 2011
Former Federal Reserve Chairman Alan Greenspan
waiting offstage before his CNBC comedy act.
Frederick J. Sheehan is the author of Panderer
to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and
Left a Legacy of Recession (McGraw-Hill, 2009) and "The
Coming Collapse of the Municipal Bond Market" (Aucontrarian.com,
2009). Mr. Sheehan was Director of Asset Allocation Services at John Hancock
Financial Services in Boston. In this capacity, he set investment policy
and asset allocation for institutional pension plans. For more than a decade,
Mr. Sheehan wrote the monthly "Market Outlook" and quarterly "Market Review" for
clients. He is a frequent contributor to Marc Faber's "Gloom, Boom & Doom
Report." He also has written articles for "Whiskey & Gunpowder" and
the Prudent Bear website, among others. He currently serves as an advisor
to an investment firm and a non-profit foundation. A Chartered Financial
Analyst, Mr. Sheehan is a graduate of Columbia Business School.
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