The Biggest Threat to Your Financial Wellbeing
You may recall the international spectacle Alan Greenspan sparked in 1996. In an otherwise dull and forgettable speech, Greenspan, the Federal Reserve chairman at the time, said the now famous phrase “irrational exuberance.” Investors thought Greenspan meant the Fed was about to raise interest rates. Of course, Greenspan didn’t say the Fed would raise rates. Nor did he intend to signal that. Nonetheless, investors quickly panicked. US markets were closed at the time, but stocks in Japan and Hong Kong dropped 3%. The German stock market fell 4%. When trading started in the US the next day, the market opened … Continue reading →
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