Well it looks like the one thing you can count on from Alan Greenspan is to be consistent, consistently partisan that is. Whenever a Democrat is in the White House deficits matter and when a Republican is in office, they don't. Now that a Democratic is back in office, Greenspan is concerned about the deficit if the health care bill wasn't scored properly by the CBO.
TAPPER: The president signed massive health care reform legislation into law a few weeks ago. You have expressed concern about the legislation, as it was making its way through the process, about whether or not it did enough to contain costs. What did you think about the final legislation? Does it contain costs enough?
GREENSPAN: Well, the CBO, incidentally, Congressional Budget Office, which is really a first-rate operation, says that it does. The problem is not their estimates, but the range of potential error in those estimates.
And when you're dealing with an economy in which debt is becoming -- federal debt is becoming ever increasingly a problem, it strikes me that when you're dealing with public policy and you're in a position where you have to ask yourself, "What happens if we are wrong?"
In other words, in the case now, where our buffer between our capacity to borrow and our actual debt is narrowing, for the first time, I think, in the American history, there's a question, supposing we are wrong on the cost estimates, and, indeed, they are actually much higher than the best estimates can generate, the consequences are very severe, whereas if they are too high, it's very easy to adjust.
So I think it's -- it's -- there's an issue over and above the question of what's the best cost estimate. There's a policy strategy here which I think requires us to lean in an ever more conservative area with respect to judging...
(CROSSTALK)
TAPPER: So it might have been too rosy, the projections, you're saying?
GREENSPAN: Possibly. I don't know that. But I do know that the probability that it might be is much higher than we would like.
and not a small part of the solution. He has been infected with the same crony capitalism disease that has infected the Republican Party and the Democratic Party, including the Obama White House -- the Randian "Chicago Boys" Economic Model.
The only time he spoke the truth, it was about the "irrational exuberance" of investors regarding stock market valuations -- and all the pundits thought he had already slipped over the edge of sanity.
He is also, apparently, also suffering from another disease that Ronald Reagan had -- Alzheimer's Syndrome. WTF is he still being dragged out into public for ?? He should be institutionalized (, like maybe Gitmo ... )
"Those who make peaceful revolution impossible will make violent revolution inevitable."
-- John F. Kennedy
I couldn't have said it better.
America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves. ~ Abraham Lincoln
You pinned the tail on the donkey.
the ilk of Greenspan, Newt, Buchanan, Delay, Rove et al? They were largely reponsible for the slide down the econmoic rabbit hole!
Of course, Tapper, has to have someone he won't be outshined by..Come on Amanpour!
I can't get past how anyone can listen to this guy without throwing something at him. This economic crisis is in large a result of his grand experiment! Greenspan is responsible for most of the deficit spending that has occurred in this nation, he is responsible for some of the worst economic policies fertilizing the bubbles we have experienced in the last 30 years. This bastard should be deported.
Goodnight, Frau Blücher
No it wasn't an experiment because this horse faced bucket of shit knew exactly what he and the rest of his cronies were doing and that is they fucked the country while they all raked in millions and millions of $$$$$$$! Nothing more and nothing less!
Why would anyone listen to the man that helped get us into this position?
but for Mr. Ayn Rand to be giving out advice at this point is kind of ridiculous.
Isn't he the one that encouraged all those phony baloney derivatives swaps that crashed our economy?
I don't think baloney has any real meat innit, so I'd hate to think what's in phony baloney.
Diabolus est Deus Inversus
are the staple food item in jail intakes across the country. Were this an equitable land, Greenspan should be enjoying one about now.
"Parachutes are allowed in checked or carry-on baggage, but may not be worn in flight."
---Southwest Airlines
but it is a stretch to posit the Obama adminstration as following any Randian principles. Let's not twist terms beyond all rationality. Rand would have been totally opposed to any bailout, and government ownership of anything -- not least GM -- would have sent her into conniptions.
She was basically a rabid anti-socialist with anarchist tendancies. Greenspan is -- or was -- a big fan of hers. He seemed to admit that he was wrong after the crisis, but now that government spending and intervention has apparently resolved the worst of the crisis he is back to his old beliefs.
When Greenspan went to work for the Federal Reserve, Randians looked at it like Anakin Skywalker turning to the Dark Side and running the Death Star.
but why, exactly, do you think that Obama brought so many Wall Street Mobsters/NY Fed Reserve into the top echelon of his administration -- just to rub elbows with the rich and famous maybe ?? Perhaps you have not been paying attention for the past 9 months regarding Health Care INSURANCE Reform -- Obama and the top Democratic Party leadership pulled any/all public options off the table, to the sole benefit of the private for-profit healthcare industry. Sweet-heart deals for all -- Big Pharma, Insurance Industry, Hospital Industrial Complex, and Doctors LLC partnerships.
Bailing out GM was required in order to prop up the economy long enough for the TBTF Bankers, Wall Street Mobsters, and the NY Fed Reserve to finish their job strip-mining the carcass that is the USA economy. Obama and the Democratic Party have been in charge of the government for 15 months, and yet there has been no re-regulation of the TBTF banking/investment industry, no criminal investigation of Moody's Investment Services, no audit of the NY Fed Reserve, and no really robust jobs program.
Instead, we are given excuses like bipartisanship, and homilies about tax cuts to stimulate Main Street businesses that have been strangled by the TBTF Bankers tight credit policies. Junk bond quality investment derivatives are still the norm, rather than the exception. The economic crisis is being papered-over with printing-press money from the NY Fed Reserve, only postponing for a short time the ultimate collapse of this economy -- political expediency, and the setup for the next "haircut/scalping" of the sheeple by the crony capitalists.
Everything done by the Obama administration thus far has only stimulated the economy of the Wall Street Mobsters, not Main Street. If you would take the time to read Naomi Klein's "Shock Doctrine", you would recognize the vast similarities between how the "Chicago Boys" pillaged Chile, Brazil, and even Russia with their debt-bombs, fake credit rating crises, and "shock & awe" privatization tactics.
It's like deja vu, all over again.
"Those who make peaceful revolution impossible will make violent revolution inevitable."
-- John F. Kennedy
http://www.youtube.com/watch?v=rwY978MTvaE
my favorite youtube
"Congressional Budget Office, which is really a first-rate operation"
Yes they are a first rate operation, that's why we rely on them instead of arrogant bloviators like you that have a known track record of failure.
If we need your advice--we'll ask you. Otherwise we do know what you are really up to---shamelessly trying to pretend that you are competent in the hope we will forget the past and somehow you will be redeemed.
p>Don't bet on it.
"We will find fulfillment not in the goods that we have, but in the good we can do for each other."
Robert F. Kennedy
I seem to remember reading something about a Greenspan interview back when Bush was still the President and the wheels had not yet come off, and he was asked if he was concerned about Bush's deficits.
He replied that he had been more concerned about Clinton's surpluses because he feared that the surpluses would possibly lead to new entitlement programs.
He seemed to be in agreement, or at least sympathy, with the "starve the beast" philosophy of government.
Someone put him back in his sarcophagus.
Fuck you green spawn!
I just don't understand how people with failed policies get back on the Sunday shows. People who've been publicly disgraced like Newt Gingrich continued to show up month after month. Alan Greenspan presided over the worst economic excesses in the last 40 years. He was warned about hedge funds, subprime mortgages, derivatives and credit default swaps but he said the market would take care of everything. It didn't. How does he get back on a Sunday show?
Why can't I get on the Sunday show? I can be wrong all the time. I can spout garbage with the best of them.
restedfell asleep at the switch."Parachutes are allowed in checked or carry-on baggage, but may not be worn in flight."
---Southwest Airlines
green spawn has risen from the dead, pushed aside the great rock, saw his shadow, and we had six more weeks of poor economic indicies.
If most of us common folk had the track record of people like Greenspan, we'd be living in a cardboard box under an off-ramp on the highway. My favorite line from Mr. Bubble (Mrs. Alan Greenspan, NBC's tough as spaghetti Andrea Mitchell says Big Al likes to take bubble baths-there's a tough image to erase from the mind's eye) is how no one could have foreseen the housing collapse coming. Well, it sure seemed strange to me and most of the people on my block when some contractor bought up one of our 700 square foot homes for 250K and tried to flip it for 500K. It sure seemed kind of ridiculous to most of us. Needless to say he sold it at a loss. And to think none of us are economists.
He'a a lying scumbag. A lot of people saw it comming and warned of it. I have little if any knowledge of real estate markets and knew it was inevitable.
It's so dishonest of the MSM to keep dragging this old fool out as an expert. His record of correctness is nearing that of "William the Bloody" Krystol.
shot and burned in the street by common folk. I guess we lack the balls.
"Parachutes are allowed in checked or carry-on baggage, but may not be worn in flight."
---Southwest Airlines
Hey STUPID -- Go. To. Hell.
And the sooner the better.
*
is about the last thing we can expect from the teevee when it comes to politics.
Now he is worried about things. Where oh where was his concern, his doubt, when he was warned about the predictable consequences of not regulating the financial industry? Fucking loser. He gets no voice at the table. Go away, far, far away.
He talks out of both sides of his mouth. He doesn't have a problem with the CBO estimates, except he has a big problem with the CBO estimates. WTF? Go. Go now.
When he made the statement some years back that he thought the bankers would regulate themselves, & he was surprised that they didnt I almost threw something through the teevee. I just couldnt beleive it here he was the head of the fed What a JOKE, he created alot of the problem, in an atmosphere of no or little regulation Whoopee we can regulate ourselves.
As if?
Alan should be to ashamed to be seen in public.
"I know that there are people who do not love their fellow
man, and I hate people like that! " ~ Tom Lehrer (1928 - )
Interesting how people here cart out Ayn Rand as a means of dismissing an entire school of thought, mostly I think, because they're threatened by what they don't understand. Separate from Ayn Rand, and especially separate from greenspan, actually the opposite of Greenspan's whole career as counterfeiter, is Austrian economics--which is the underlying, purely mechanical understanding of money and markets that modern libertarianism is based on.
Austrian conclusions don't align with left-liberal idealism, or any idealism, but the Austrian school meets the test of science, which is that can make valid predictions, as it has about our disastrous economic policies throughout the 20th century and this century so far.
So, you people ought to ignore Rand is she doesn't appeal to you. She doesn't appeal to me either. But that's no reason to ignore reality.
The purpose of Crooks and Liars is to keep small-minded individuals thinking in terms of the left vs. right garbage they've been trained to respond to.
failed abysmally is? Since you believe you understand it all please feel free to explain.
Hasa Diga Eebowai
America and the world has been pursuing Keynesian economics, not Austrian as conceived of by Hayek. Keynesian economics has failed precisely as, and for the reasons that, Austrians have predicted.
The purpose of Crooks and Liars is to keep small-minded individuals thinking in terms of the left vs. right garbage they've been trained to respond to.
one of us doesn't understand economics but I'm pretty sure it isn't me. It would have been nice if America and other nations had pursued Keynesian economics but they didn't. The temptations of politicians to interfere inappropriately in order to influence elections rather prevents that. Nevertheless the half-assed pursuit of Keynesian policies did produce the greatest increase in economic expansion in human history. A brief review of the wildly cyclic nature of economies prior to the institution Keynesian policies is a bit of a clue.
Hasa Diga Eebowai
Then you should admire people like Greenspan. Well, maybe he's more of a monetarist, but monetarism is just an offshoot of Keynesianism.
Yes, Keneysian economics failed so badly, that it created the greatest and most prosperous middle class in history. Plus, let's not forget that two generations (60 years), never ever voted again for the miserable "Free Market" morons.
Once the boomers took over and brought back Randian ideas, they got a repeat of 1932 all over again in just 8 short years. Who would have thunk it?
Reality check please!
If I were a psychopath, I would join the republican party, and get in on the gravy train taking the Teabircher morons to the cleaners.
I suspect this "Austrian school" apologist doesn't know what he's talking about.
Unfettered, rapacious, predatory "free markets" bring death, destruction and inequality, period.
BID
so, not having heard of Austrian economics I went to Toledo and Toledo'd it. The great god Wiki informs me that critics of AusEc say it doesn't hold up to scientific standards, and as I'm sure you are aware, Wiki is never, ever wrong.
for Robert's defense of the wit and wisdom of Ron Paul.
Hasa Diga Eebowai
So many clues, so many clues.
Not a convert of either one, but your default to personalities over ideas looks like an effort to avoid the issue. Which is a centrally planned economy, who plans it, who controls it, and to what end. To say that Keynesian policies contributed to the greatest expansion in history, when that expansion lead to the the most vast collapses and widespread depressions, is pretty foolish. Up and down cycles for regional, practical, or other market reasons, that aren't universal and caused by decisions made in one office by a handful of people if not a single person, are better than millions losing homes and savings, no?
The purpose of Crooks and Liars is to keep small-minded individuals thinking in terms of the left vs. right garbage they've been trained to respond to.
As far as defaulting to personalities please see your post at 19:53. I'm quite aware Hayek was a rabid anti-socialist. He chose to base his theories on methodological individualism which, as Greenspan himself recently admitted, is a pretty shaky one. It turns out self-interest doesn't lead to optimal outcomes does it. Oops.
Hasa Diga Eebowai
Between self-interest and optimal outcome and greenspan. Greenspan, contrary to views he might have held at one time, is a central planner, basically an economic tyrant. He's very much opposed to individualism in an economic sense, at least based on his career and choices.
The purpose of Crooks and Liars is to keep small-minded individuals thinking in terms of the left vs. right garbage they've been trained to respond to.
Austrian School is no longer part of mainstream economic theory. The idea that economic systems cannot be modeled in any useful way makes it every bit as useful a tool as creationism is to biology. Very much a dead end.
Hasa Diga Eebowai
If a theory is endorsed by Ron Paul or Ayn Rand, or is not mainstream, it's inconceivable that it can be valid. You have a quite a method for navigating ideas. Grasp for any reason to dismiss the ones you don't understand or that don't seem to align with your bumper sticker political views.
The purpose of Crooks and Liars is to keep small-minded individuals thinking in terms of the left vs. right garbage they've been trained to respond to.
The fact that Paul or Rand endorse it doesn't make it wrong. It's the fact that it doesn't work at all that makes it wrong.
Hasa Diga Eebowai
On any large scale to my knowledge, so there's no evidence at all that it doesn't work. And its premise--that the energy and millions of activities of people will determine what is most practical in society, and that it's idiotic to attempt to centrally plan and dictate what is most practical--is sound and logical.
What has been tried, which is at least a modified version of Keynesianism, has been not only catastrophic in its regular miserable busts, but is very susceptible to corruption and power grabs. It allows whoever can get into the right position, after all, to manipulate the entire marketplace and determine to a greater or lesser degree the well-being of hundreds of millions, if not billions of people. I don't think you understand the incredible power inherent in manipulation of the money supply and interest rates.
The purpose of Crooks and Liars is to keep small-minded individuals thinking in terms of the left vs. right garbage they've been trained to respond to.
but you're sure it will work and you're willing to experiment with millions of other people's lives. But my friend it has been tested. In game theory it is perfectly modeled by "the commons" and it inevitably results in disaster. Tell me how, if we get rid of all environmental regulations the earth will turn into a paradise.
Hasa Diga Eebowai
It's silly to strive for paradise. Probably where all your false ideas come from in the first place. All you can strive for, realistically, is not being subject to arbitrary controls.
Addressing your question, in the scenario without central control, you would likely have an explosion of technology that would be environmentally friendly since that's what the market would call for. In the current situation it's profitable and advantageous for a few people in key positions to suppress new energy sources and technology. That's why we're stuck with a glorified model T a hundred years later. No mass transit, no electric, solar, hydrogen power being made viable, nothing new... You see, market forces, (countless individuals experimenting and striving, out of self interest) have been suppressed and perverted by central controls imposed by businessmen via government, under our keynesian system.
You would also have a removal of government protections of companies that pollute, so they would be subject to lawsuit, boycott, public exposure in an unregulated media. With central controls, companies can easily protect themselves through association with just a few of the right people. This is happening right now, you know. You okay with that?
I think you're confused about the implications of different ideas, mostly because you have a conditioned response to certain words. Free markets don't imply experimenting with millions of people's lives. They imply allowing millions, or billions, of people to experiment with their own lives for their own reasons, and for others to respond, or not respond to those people's experiments. What's more likely to find the best results, millions of experiments each conducted on a small scale, some taking off and growing because they are practical and useful, or one experiment, enforced under the threat of violence, instituted by a government that you know very well is extremely corrupt?
The purpose of Crooks and Liars is to keep small-minded individuals thinking in terms of the left vs. right garbage they've been trained to respond to.
and the economic outcome is not favorable to populism, democracy, the Middle Class, or the Poor. It is, however, great for that oligarchy known as crony capitalism. The "Chicago Boys" Economic School is derived from Ayn Rand, an ardent follower of Hayek and the "Austrian School".
Unchecked, unregulated free enterprise, globalization, shrinking of populist government in favor of extreme privatization for profit all rely upon capitalistic greed -- that one thing that Greenspan has more recently admitted does not appeal to man's better nature. I suppose that is why Greenspan has been sullied with the "Keynesian Economics" label.
One need look no farther than the NY Fed Reserve, the Wall Street Mobsters, and the TBTF Bankers and their allies in the IMF and World Bank to see just what kind of economic mischief / damage they can cause. Naomi Klein has well-documented ("Shock Doctrine") the abject failure of Randian Economics to every segment of democratic society, excepting the crony capitalists.
Infatuation with the Hayek, the Austrian School or the closely derived Randian Economic Model generally reveals one to be an oligarch or oligarch apologist.
"Those who make peaceful revolution impossible will make violent revolution inevitable."
-- John F. Kennedy
that minimal policing of the markets was necessary because they would self-police out of self interest?
self-interest/optimal outcome/green spawn
You must have been in a coma for the last twenty years? Because it was the REPEAL of Keynesian economics and return to unfettered capitalism that led to the 2nd republican great depression.
Stop twisting history into something that never happened, in order to hold onto a position that is demonstrably wrong.
If I were a psychopath, I would join the republican party, and get in on the gravy train taking the Teabircher morons to the cleaners.
"the Austrian school meets the test of science, which is that can make valid predictions"
BS! Their theory was completely repudiated at the start of the 20th century. Great Depression and all that.
he didn't warn us all of the severe consequences if he was wrong. I guess being a Randite means never having to say you're sorry.
Hasa Diga Eebowai
.. all about BEING WRONG and SEVERE CONSEQUENCES ..
:)
When will government of the people, by the politicians, for the corporations perish from this Earth?
Not soon enough!
This toon character from Roger Rabbit is useless. Put him out to pasture. Spend time with your wife Andrea Mitchell and go away. Take your play buddies with you,Tim and Larry. If only these guys could be held responsible legally. They won't give up, they still want less regulations. Sirs, Haven't you done enough!
Great piece from Gonzalo Lira c/o Naked Capitalism here
Volcker got away with extend and pretend in 1982 because the Bankers were afraid of him and cleaned up their balance sheets.
It won't work this time.
But you won't hear about that from Greenspan who was the prime mover in getting us into the deep doo doo we are in.
Never mind the health care bill, when the crap hits the fan that is peanuts: the Banksters are insolvent, the Fed and the Treasury have shot their wads with enormously expensive but ineffective fixes.
statusquObama, change you can only pretend in
understand how money is created, and who benefits, and why it's created as debt although it has no practical value and costs nothing to create, and why there's constantly mounting interest attached to it, and who controls what policies it finances (hint: the voters are left out of the conversation)and you will understand a lot more about the world you live in.
The purpose of Crooks and Liars is to keep small-minded individuals thinking in terms of the left vs. right garbage they've been trained to respond to.
Yes, I do understand that.
The problem for the Banksters (the FED in theory should regulate these guys) and us because of it, with their financial innovation and the creation of securitization for debt, they went way beyond the lack of utility for debt as issued by Central Banks in the first place.
They went thoroughly into the land of fraud.
The FBI warned of massive mortgage fraud in September of 2004, here
statusquObama, change you can only pretend in
understand Mr Fuller's point of view Alice. The evil central bankers forced Wall Street's institutions to gamble on derivatives they didn't understand, bundle bogus mortgages into financial instruments and have bond rating agencies wave their magic wands and turn them into gold. If only there'd been less regulation as per Hayek none of this would ever have happened. You see greed is the only good.
Hasa Diga Eebowai
by setting interest rates low, central bankers certainly do encourage gambling and malinvestment. You don't understand this? It's a very simple cause and effect. Easy credit is a temptation for a big turnaround, and wall st. companies are gambling with other people's money. It's an environment without consequences. Real economics would self-regulate through the sobering influence of actual consequences for decisions made by bankers. It's very incomplete thinking to eliminate from the conversation who and what creates the whole insane environment where this bubbles are inflated.
The purpose of Crooks and Liars is to keep small-minded individuals thinking in terms of the left vs. right garbage they've been trained to respond to.
of all economic evil that afflicts democratic governments. Putting such a financial organization in charge of the nation's monetary supply is akin to hiring the fox to guard the henhouse.
Two of my favorite Presidents, Andrew Jackson and Abraham Lincoln, did the most for the average American citizens in their times. Andrew Jackson's most memorable victory, which took the vampire private for-profit central banking interests more than 75 years to recover from, was his victory in killing off the private for-profit central bank. Abraham Lincoln, in the midst of the Civil War, was instrumental in the creation of the Greenback, a fiat currency that survived in circulation long after the turn of the 20th Century.
The Federal Reserve is a private for-profit central bank that controls this country through their control of the currency. They have never been audited, and are only nominally under control of the government. In truth, they are completely out of control. If a thorough audit were to be conducted of the Fed and made public, there would be such an outcry against them that they would not long survive. The role of the central bank as a publicly held institution, under the control of the US Treasury, is democracy's only hope. At the same time, the TBTF Banks need to be re-regulated and broken up under anti-monopoly statutes -- they can be replaced with State-owned State-chartered banks under the auspices of regulation by the US Treasury.
"Those who make peaceful revolution impossible will make violent revolution inevitable."
-- John F. Kennedy
on teevee is that the teevee political shows are primarily a vehicle for professional liars.
...the HCR bill didn't do nearly enough to contain costs and it will need extensive adjustments in the future (like getting rid of private for-profit insurance companies and moving to a single payer system).
Alan sniffed around at the hems of Ayn's skirt but she wouldn't give it up, to him. Post mortem he still tries to get into her pantaloons (don't tell Andrea).
It's not all or nothing.
When it comes to the healthcare debate, everyone seems to get all Ayn Rand and turns into instant scum sucking pigs. Less is better! What Americans need to ask is how the hell is it done everywhere else, and then DO IT THAT WAY!
The questions were already asked in the rest of the industrialised world, we don't need to reinvent the fricken wheel. Canadians are all happy with their system, ditto France, Great Britain and elsewhere. Let's do it that way and be done with it, why go all American on us and screw up the issue when it HAS BEEN SOLVED EVERYWHERE ELSE!
And as for Alan Greenspan, the world would have ignored his sorry ass opinion ten years ago, but we Americans deregulated the banking industry to allow the greediest amongst us to flourish at the expense of everyone else ... go figure!
selling us down the river with lottery mortgages and credit default swaps and everything (according to him) was hunky dory? The guy is senile....he needs to go home and eat his tapioca--fed to him by Andrea Mitchell.
“The greatest evildoers are those who don’t remember because they have never given thought to the matter, and, without remembrance, nothing can hold them back,”
The CBO can only base its findings on bills/laws working exactly as they are spelled out. But this rarely happens.
Sure Greenspan is being partisan here. It's what people in DC do. If they didn't do it, the people wouldn't be divided and conquered.
You didn't seem to worried about deficits when Bush took a surplus and overnight turned it into a $2.1 trillion dollar deficit giving 90% of it away in tax cuts to millionaires.
I guess what I'm trying to say is, shut the hell up you old turd!
If I were a psychopath, I would join the republican party, and get in on the gravy train taking the Teabircher morons to the cleaners.
"I don't know anything, but did you know I once had Ayn Rand as a girlfriend? Oh, and then I'll run the Fed, be carefully incomprehensible while being ruled by an ideology that stinks worse than fish, and if you ask, I'll gladly carry water for the Republican Party."
They can't say the real issue they have with Democratic spending - they're spending money to help society as a whole. They know if they are honest and give the real reason, none of them will ever really be electable. They're alright with Republican spending because it's on the military (something they want as big as possible with as many people fighting that aren't them or their families if possible) and they want subsidies and protections for the wealthiest people.
It's not about the deficit.
It's called the Two Santa Claus Theory. It's not about the deficit.
Only when the last tree has died
and the last river has been poisoned and the last fish has been caught
will we realize we cannot eat money.
Quite amazing that Greenspan is criticizing the health care bill for being irresponsible when it was this fraud himself who once said that having budget surpluses would be bad for the economy! Greenspan was head of the Fed when Bush pushed through the Medicare Drug prescription bill without even commenting on it. What makes me angry is the way these media whores don't even call him on these things.
As far as the health care bill goes it was in the country's interest to do something about it, and though it wasn't enough Obama was the first one to make changes to health care that are this significant after about 70 years of trying. I believe people come first and if cuts are necessary to rein in the debt then cuts have to be made make the cuts in areas that are not as crucial as the nation's health i.e defense spending as an example. I am sick of Greenspan and though he is well respected by the elitists he is nothing but an old fart and a Republican hack.
Why the fuck is this clown even being interviewed by anybody anymore? Greenspan is probably more responsible than any single individual for the total fucking mess the US economy is in now. He kept interest rates at absurd lows for years and years, creating one huge fucking bubble after another that have practically bankrupted the country - heck, the entire world economy! He championed the derivatives that created the housing bubble. And the media is still treating him like a respectable pundit? This prat should be ashamed to ever show his face in public again, let alone on the airwaves.
of Bush's tax cuts and their impact on the deficit/debt? Did he believe them then? If he did he approved of wrecking the economy. If he didn't he was proved horribly and dangerously wrong and incompetent.
He was visiting the White House regularly when Bush was president, basically signing-off on everything Bush wanted. Most people felt this cozyness to any president was unethical.
-- he makes Larry King look handsome -- is (or was) a disciple of Ayn Rand.
Enough said.
BID
I agree, why did they even drag this guy out of retirement again and why is anyone listening to him? Last time when he was called out to testify about the 2008 economic disaster he admitted that pretty much his entire economic ideology was wrong and ill-suited for the current market environment so just play that highlight reel over and send him home. He's one of the people that contributed to the most recent economic disaster on the GLOBAL level by keeping interest rates too low too long for the banks and sticking with his Ayn Randphile theory of markets being able to regulate themselves despite this painfully not the case after the late 80s...
"Senator Hatch admits GOP standard practice was to run up deficit"
by: David Edwards and Daniel Tercer
the raw story.com:
http://rawstory.com/2009/2009/12/hatch-admits...
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