Five Things You Need to Know: Cat's Out of the Bag, Next!, Cuba Libre?, Alan Greenspan: Failed Writer, The Ghost of Greenspeak

By Kevin Depew  AUG 01, 2006 9:47 AM

What you need to know (and what it means)!

 


Minyanville's Five Things You Need to Know to stay ahead of the pack on Wall Street:

1.  PCE Cat's Out of the Bag, But Negative Savings Rate Improves!

The Federal Reserve's preferred measure of inflation, the personal consumption expenditure price index, rose 0.2% for the third straight month, and is up 2.4% year-on-year.

 

2.  Next!

U.S. Treasury Secretary Henry Paulson will deliver his first major speech today at 10:30 a.m. EST!

3.  Cuba Libre'?

Fidel Castro, the Cuban president who bears a striking resemblance to the character Heat Miser from the 1974 children's television special "The Year Without a Santa Claus," on Monday ceded power provisionally to his younger brother, the Snow Miser, after undergoing surgery for intestinal bleeding, the Financial Times said.

4.  The Ghost of Greenspeak

The chief executive of Penguin Publishing's parent company Pearson, said yesterday that Alan Greenspan had agreed to allow a ghost writer to help give his memoirs more "pace," the Times Online reported.

Alan Greenspan's Unedited Memoirs, opening paragraph:
"We may not be able to usefully determine at what point my contributions as Federal Reserve chairman and, later, ad hoc economic advisor, will slow or even reverse, but it is evident that the greater the degree of international flexibility, the less the risk of a crisis. Should globalization continue unfettered and thereby create an ever more flexible international financial system, history suggests that current account imbalances will be defused with modest risk of disruption."

 

5.  The Ghost of Greenspeak

Yeesh.  After reading the excerpt above, I see what Dame Marjorie means.  Good lord, Sir Alan Shake Spear-me-in-the-brain so I don't have to read one more word of that horribly boring prose!  That text is dry as West Texas dust!  It's as exciting as a fly in an ice cube!  Greenspan doesn't need a ghost writer, he needs a ghost rememberer!  Ok, enough.  Even though I got plenty more of those, I'll stop because you get the point: dude needs a ghost writer. 

Below is the same Alan Greenspan memoir paragraph massaged by potential ghost writers!

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