Wednesday, April 09, 2008

Interview w/ Bill Fleckenstein

Financial Sense Newshour recently interviewed William Fleckenstein, investment manager, financial columnist, and author of the new book, Greenspan's Bubbles.

I posted this interview link in our last Features post, but for those who missed it,here it is again. I thought this would be especially useful since, as Tim Iacono and Barry Ritholtz point out, former Fed Chairman Alan Greenspan is currently engaged in a full court press to convince the media and the public that the housing bubble and its aftermath were, "not my fault!".

You'll find plenty of criticism of the Greenspan Fed's policies in Fleckenstein's book, but what I really wanted to key in on was a much bigger point made at the start of Fleckenstein's FSN intervew.

Jumping right in from the intro, FSN host Jim Puplava introduces a little recognized theme for discussion: the Fed as central planner.

"Bill, I want to start out with the concept of central banks that many may not recognize, and that is in reality, they're central planners..."

Intrigued? Hear Fleckenstein's thoughts on this issue and more in this FSN interview.