Ignorant Fool, Greenspan: Western World Headed for a State of Disaster

www.foxbusiness.com...

Disaster because fools like him, when he was the head of the Fed performed disastrously, and was the one himself who began the ruination of the Western world economy!

The Western economy is plagued not by retiring people, who he suggests here, by drawing from the system and causing a production problem, but in fact the economy is plagued by a lack of DEMAND.

People just don’t have spending money anymore….directly related to the depression Greenspan presided over as head of the Fed

This ignorant leader of trickle down economics, promoting his new book, was the cheer leader in guiding the economy by encouraging the housing bubble and the exotic and frenzied speculation, and was so wrong in his projections while he was in power, that he can be held directly responsible for the damage in the ruination of millions of American economic health

Alan Greenspan will go down in history as the person most responsible for the enormous economic damage caused by the housing bubble and the subsequent collapse of the market. The United States is still down almost 9m jobs from its trend path. We are losing close to $1tn a year in potential output, with cumulative losses to date approaching $5tn.

www.alternet.org...

The horror story could have easily been prevented had there been intelligent life at the Federal Reserve Board in the years when the housing bubble was growing to ever more dangerous proportions (2002-2006). But the Fed did nothing to curb the bubble. Arguably, it even acted to foster its growth with Greenspan cheering the development of exotic mortgages and completely ignoring its regulatory responsibilities.

Unelected no doubt, just all the fat cats working people have to support.

originally posted by: Willtell
www.foxbusiness.com...

Disaster because fools like him, when he was the head of the Fed performed disastrously, and was the one himself who began the ruination of the Western world economy!

The Western economy is plagued not by retiring people, who he suggests here, by drawing from the system and causing a production problem, but in fact the economy is plagued by a lack of DEMAND.

People just don’t have spending money anymore….directly related to the depression Greenspan presided over as head of the Fed

This ignorant leader of trickle down economics, promoting his new book, was the cheer leader in guiding the economy by encouraging the housing bubble and the exotic and frenzied speculation, and was so wrong in his projections while he was in power, that he was directly responsible for the damage in the ruination of millions of American economic health

Alan Greenspan will go down in history as the person most responsible for the enormous economic damage caused by the housing bubble and the subsequent collapse of the market. The United States is still down almost 9m jobs from its trend path. We are losing close to $1tn a year in potential output, with cumulative losses to date approaching $5tn.

ww.alternet.org/how-alan-greenspan-destroyed-america

The horror story could have easily been prevented had there been intelligent life at the Federal Reserve Board in the years when the housing bubble was growing to ever more dangerous proportions (2002-2006). But the Fed did nothing to curb the bubble. Arguably, it even acted to foster its growth with Greenspan cheering the development of exotic mortgages and completely ignoring its regulatory responsibilities.

The plague is self centric greedy parasites with no empathy for their fellow man. The French chopped the heads off many during the revolution. We need a worldwide Rev2!!

Anyone who heads the Federal Reserve is in cahoots with the banksters, they know full well what they are up to. They want every penny from every sale controlled by them and y'all working for them as slaves in eternal debt.

Thats the problem with greed, it knows no limits.

a reply to: Willtell

The Rothschilds debt based monetary system has enslaved us all for way too long.

Its coming to a close.

They almost lost control in 2008 with the housing bubble causing a global impact.

No doubt they already have some other scheme ready to takes it place.

Wonder who theyll blame for the worldwide economic collapse.

My guess: Moslems.

Collapse already. I'm tired of hearing about it.

The government had plenty of time to prepare for this the fact that they didn`t is gross negligence.
it`s not rocket science, millions of baby boomers retiring means a lot more money being paid out of social security and with a declining population that means a lot fewer people paying into social security.I mean seriously this was very predictably and inevitable,why the government didn`t come up with a plan to prepare for this is unexplainable and nothing short of intentional negligence.

The economy of the western ( probably whole) world is a Ponzi Scheme. Ponzi Scheme's collapse. It is what they do. The are a mechanism of threat.

Andrea Mitchell is married to this imbecile. (Imbecile is my favorite word tonight)

She with a 99.9% probability went down town on old Alan, once, perhaps multiple times over the course of their marriage. Intercourse? I don't want to visualize it!

Next time you see Andrea Mitchell doing her talking head gig, remember she is doing the wild thing with old Alan (one L or two?)! Or has DONE the wild thing. Why should we take this garbage seriously?

a reply to: Willtell

Part of what the Federal™ Reserve does is to take a cut of every dollar transacted into existence. The profits (though I'm sure skimmed to the tune of billions upon billions) are returned to the U.S Treasury. It's their control over the ebb and flow, and the manipulation/insider trading which occurs as part of their system which is the problem.

They also use US Citizens as pawns in their economic wars. Those wars typically benefit the US as a nation, though of late the benefits seem to ultimately fall to the corporations - not necessarily to the citizenry, especially as the corporations continue to export jobs. That's my problem with the Federal™ Reserve - not fiat currency, which actually works just fine (though it can be manipulated more easily than precious metals-backed currency.)

What our economy needs is protectionist trade policies. We could also stand to go back to using cash. Card processors charge around 4% of every transaction. Imagine if everything suddenly cost 4% less, but producers were still getting the same money. Card processors would be hit hard - the rest of the economy would probably hit full stride boom time - enough to kick start solid, sustained growth. I always pay cash to small businesses, and always use my card at dumps like Walmart.

a reply to: dogstar23

I agree about the trade policies.

This is Trumps best issue


Overall the trend s will not be stopped

Because the GOP only gives rhetoric to trade and s the democrats are the ones used as front men for the deals…Obama and Clinton.


But he and anybody else will catch hell trying to turn back what they started


The reason the economy is dead is because of no demand…Its demand that runs a healthy economy and when people don’t have money to spend just a few credit cards demand shrinks