In this hard hitting and comprehensive look at Alan Greenspan’s career over the last two decades, bestselling author Ravi Batra reveals the devastating economic effects of the Federal Reserve Chairman’s ideas and policies. Greenspan has reigned over the U.S. economy since 1987, if not since 1981, outlasting at least three presidents. His views have shifted so frequently with the political tides that his actions, in Batra’s opinion, amount to an intellectual as well as a tax fraud against the people. This is unfortunate, because the chairman’s words resonate loudly around the world.  

Greenomics, Batra argues, has extracted trillions of dollars in excess taxes from the American middle class, lowered wages for working families, and hurled millions into poverty. He pinpoints Greenspan’s glaring inconsistencies on Social Security, income tax cuts, free trade and the minimum wage and shows that many of his views are illogical and deeply flawed. Batra demonstrates how Greenspan unwittingly brought about a global crash; how he helped spread the virus of regressive taxation, which is the main culprit behind stagnating wages around the world.   

In this revealing portrait, the enigmatic head of the Fed stands exposed. Few realize that he once regarded President Kennedy as a fascist dictator, considered America’s big business as a persecuted minority, argued that inflation hurts the stock broker more than the elderly, and paid lower wages to female employees while taking “better quality” work from them. In short, Greenspan emerges as a true friend of the rich and a covert foe of the poor and toiling workers. Not surprisingly, the U.S. economy, shepherded by the chairman for over two decades, now stays afloat on a subsidy of nearly $2 billion per day from the rest of the world. Such a pitiful state cannot endure. Batra offers practical economic reforms to do away with Greenomics and restore the comforts of the middle class that have vanished in the Greenspan era.

    This book is a must read for anyone interested in bringing sanity to the global economy, which is currently afflicted with numerous debts, deficits and special interests. It is also a must read for those seeking an objective evaluation of the Bush administration’s policies making headlines today. The simplicity with which Batra presents his arguments and counters the orthodoxy will astound you.  

The book also includes Batra’s forecast made in 1980 that Islam would convulse the western world around the year 2000. The 9/11 massacre was clearly foreseen by the author.  

Contents:

            The Two Faces of Alan Greenspan  
            The Social  Security Fraud             
            Greenonomics: Free Profits Define Free Markets             
            Greenspan’s Intellectual Fraud             
           Greenspan and the Globe             
            What Causes a Stock Market Bubble and Its Crash? 
            The Income Tax Rate and Our Living Standard      
            Does the Minimum Wage Create Unemployment? 
            Greenspan and the Galloping Trade Deficit          
            The Legacy of Greenomics          
            Economic Reform

Ravi Batra is author of six international bestsellers, two of which appeared on the New York Times list. He has appeared on CBS, NBC, CNN, ABC, and CNBC and has been profiled in The New York Times, Time, Newsweek, and many more. He is a professor of economics at Southern Methodist University, Dallas, Texas.  

Comments About Greenspan's Fraud

  “Here, finally, is the dark truth about Alan Greenspan. In this chilling exposé of one of the most powerful men of our time, Ravi Batra reveals Greenspan for who he secretly is: An ideologue who has waged war on the American Dream and imperiled the world economy. Greenspan’s Fraud is a terrifying book.”

  --David Callahan, author of The Cheating Culture: Why More Americans Are Doing Wrong to Get Ahead

  Greenspan's Fraud by Ravi Batra finally takes on St. Alan and finds that the emperor not only has no clothes but has succeeded in fooling everyone into believing that he is serving the interests of the global economy. He's in bed with big business and this is the first time it's all laid out to be seen.                                                                                                                                  
                                      Dailykos.com  

Southern Methodist University economist Ravi Batra, author of the forthcoming book "Greenspan's Fraud," argues that throughout his tenure, the Fed chief has consistently sided with capital over labor and rich over poor. 

                                                                                               Tom Obote, San Francisco Chronicle

The best-selling author of The Great Depression of 1990 takes on Greenspan, arguing that his policies have damaged the middle class.

                                                                                                                                Library Journal

An explosive critique of Alan Greenspan's economic policies by New York Times bestselling author Ravi Batra.  

                               www.kpfl.ca/top_ten/bestsellers (website for Top Ten Requested Titles)

Here’s a question: What if Greenspan’s 1983 proposal was never meant to save Social Security? What if raiding the Trust Fund was his aim all along? These questions are raised by Ravi Batra in his book, Greenspan’s Fraud.   

                                                                                                 Brad Plumer, Washington Monthly  

“Ravi Batra is one of the world's most controversial economists. Beneath the surface of his often contentious conclusions lies a deeper source of the controversy. He does not accept one of the most fundamental fallacies of modern macroeconomic theory--the assumption that macroeconomic policy has no distribution effects. Many macroeconomic models contain only per capita variables, whether or not based upon the representative agent paradigm. Professor Batra turns this oversimplifying assumption upside down, by making the higher order moments of central importance. Whether or not we agree with his policy conclusions, we cannot and should not ignore him as a counterweight to the profession's tendency to assume away the distribution effects of policy.”  

--William A. Barnett, Oswald Distinguished Professor of Macroeconomics, University of Kansas and Editor, Macroeconomic Dynamics

Home