ALAN GREENSPAN: “WE’RE IN TROUBLE”
Former Federal Reserve chairman Alan Greenspan – who in late 2014 admitted that the federal government’s money-printing bonanza didn’t work – has some fresh observations on the status of the U.S. economy.
Not good ones, either.
“We’re in trouble basically because productivity is dead in the water,” Greenspan said in an interview with Bloomberg’s Tom Keene and Mike McKee. “Real capital investment is way below average. Why? Because business people are very uncertain about the future.”
That’s for sure …
As our friend Rick Manning with Americans for Limited Government (ALG) recently noted, even big government admits its economy stinks.
“The U.S. economy has just suffered through the worse ten-year period in terms of economic growth since the Great Depression,” Manning wrote.
Things don’t seem to be getting better, either. Gross domestic product for the fourth quarter of 2015 expanded at a measly 0.7 percent clip – and the latest jobs data was weaker than expected.
Wages also remain suppressed … serving as a drag on growth.
We’ve been pessimistic on the economy for some time … not because we want to be a “perma-bear” website, but because we believe in going where the data takes us. Also we’ve been to “rainbows and unicorns” fantasyland – and we’re sure as hell not buying what they’re selling.
If we’ve said it once, we’ve said it a thousand times: America’s economy can be rescued – but doing so will require radical reorientation of the governing philosophy in Washington, D.C.
No more perpetual incentivizing of dependency. No more status quo deficit spending. No more crony capitalism (a.k.a corporate welfare). No more invasive bureaucracy. No more reckless global interventionism. No more open borders. No more secretive central bank “stimuli.” No more rigged trade deals.
Is that the sort of thing the “Republican” establishment in our nation’s capital is willing to commit to? No … which is among the reasons the party is melting down before our very eyes.
I know what the economy needs, it needs Greenspan’s cold, wrinkly, bony fingers wrapped around its neck again. Who trusts this guy on the economy?
Ayn Rand, his fuck buddy and mentor must be smiling down from … wait.
Is he still alive?!?
Only thanks to Disney animatronics.
Ayn Rand used to call him “The Mortician”.
lol…that’s a great WWF/E name, reminds me of “Paul Bearer” (RIP)
Me thinks after Greenspan sold his soul to Satan by renouncing a gold standard for the big bucks, that as he nears the end of his life he’s now having second thoughts about the whole thing. The big pile of debt that will eventually end badly is going to ruin what’s left of his reputation after he’s gone and Satan is shoving pineapples up his ass:
This ass-hat and his plastic-faced cum bucket partner Andrea Mitchell need to take a powder
Greenspan should have been walked out of the Fed in handcuffs.
We are a consumer economy, and only the one percent have seen real income gains over the last many years, No one else has enough money to consume with to support the economy. Hell, even Wal Mart is closing stores.
You from Crapville?
If you only knew…
“WE’RE IN TROUBLE”
For most people that is not a revelation, just an affirmation.
We have been on the wrong track, the rich are getting richer, the poor are getting poorer, and the Middle is taking a beating.
But trickle-down works, I tell you!
My God! What an awful pick of pic of Ruth Bader Ginsburg!
The same guy who was “shocked” in 2008 that Wall Street was made up of a bunch of greedy bastards.
Naive is too kind a word for this senile old fool.
Alan Greenspan Exposed: https://www.youtube.com/watch?v=ZpRoIZoJ8Hg