|
Parlez-vous Greenspeak? postdocme.net translates some of the text used by Federal Reserve Chairman Alan Greenspan. Greenspan: Significant downturn in aggregate growth. English: I’m having a bad hair day. Greenspan: Irrational exuberance. English: Party on dudes! Greenspan: This unpredictable rending of confidence is one reason that recessions are so difficult to forecast. English: If Bush slaps my back again, its so long rate cut. Greenspan: Signs of softness still patently in evidence. English: Some of you senators sure need to go on a diet. Greenspan: Cough. English: Buy! Greenspan: Sneeze. English: Sell! Greenspan: A round of inventory rebalancing appears to be in progress. English: Stock up on the potato chips -- we're in for a long recession. Greenspan: The hastening of the adjustment to emerging imbalances is generally beneficial. English: Okay, so Bush isn’t all that bright, get over it. Greenspan: But even when decision makers are only somewhat more risk averse, a process of retrenchment can occur. English: It’s about time for my nap. Greenspan: The same forces that have been boosting growth in structural productivity seem also to have accelerated the process of cyclical adjustment. English: What goes up must come down. Greenspan: Crucial to the assessment of the outlook and the understanding of recent policy actions is the role of technological change and productivity in shaping near-term cyclical forces. English: Hey, this Blackberry thing is kind of cool. |