Monday, October 11, 2010
Greenspan Thinks Stimulus is a Dangerous Game
Bloomberg has Alan Greenspan’s remarks on tape as he compares US fiscal policy to that of Greece. Does the former FED chairman know how modest interest rates are? Let alone the current amount of economic slack in the US economy. Of course, that will not stop the Party of No from citing Greenspan as the all-time expert on the US macroeconomy.
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2 comments:
When I read that Greenspan was an ardent supporter of Ayn Rand, as a young man, I lost what little remaining respect I had for him. He should stick to playing the piano.
Why is anyone taking Greenspan seriously anymore? His track record is ridiculous, and his action best explained by assuming he is a Republic party hack. Economists citing Greenspan about the current financial crisis are like astronomers citing Aristotle arguing that the Sun orbits the Earth in an article on a new exo-planet.
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