Greenspan: The Fed can’t solve every problem. The Fed can’t solve any problem, but it sure can create them. But wait, it gets better.
“The real problem has got nothing to do with monetary policy—although I grant you it’s a crucial issue short term—it’s fiscal policy,”
Fiscal policy is what you spend, monetary policy is how much you have to spend. And since you can’t spend what the Federal Reserve hasn’t given you it seems clear that Greenspan is as wrong about this as he was about creating the housing bubble.
This post was last modified on September 5, 2015
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Add this to the list that includes
Time magazines cover story "Men and women are different"
Hillary Clinton realizing there are bigger (more important) things ... (I don't recall the exact quote or exactly why she came to that realization, but it was something of a personal nature)
What amazes me is not so much that some of these people are coming to these realizations as that apparently they think no one else has, and it is their duty to "enlighten" us. Reminds me of the Geico "everybody knows that" commercials.
But it does go to show just what their viewpoint is. If sometimes it seems that they think everyone is stupid, it's because they really do think that.
Greenspan: The Fed can’t solve every problem.
Finally, some truth out of D.C. Now if the feds would just get the hell out of the way and let private enterprise solve the problems, most of which the feds created in the first place, we just MIGHT stand a chance.
Fvck Greenspan with a rusty chainsaw. He's the one that really got the interest rate game rolling. I guess he figures he's far enough removed from the clusterfvck to spout off but I and other Americans haven't forgotten.
If not for Fed policy, we wouldn't *have* these problems. Can't really blame The Fed completely though, Congress is the one that keeps the ball rolling because they created The Fed and renew its charter.
He is full of crap though because US as well as global monetary/fiscal policy has everything to do with the crap that has been going on for so long now.
Of course the Fed can't solve every problem; the question is, can it solve ANY problem?
Pretty much what I was going to post except I wanted to add that while the government cannot solve any problem they sure as hell can create problems by the thousands....daily.
Best news to hear, Congress is in recess....unless a meteor was headed for DC.
Does anyone coming out of a university with an economics degree have ANY inkling of what makes an economy function?
All they learn are scams involving debt, interest, shifting numbers around, printing fake money, and how to make billions by propping up a facade and then running before it falls over.
This civilization DESERVES to die.
It does, and it is, and I am 100% convinced now that there is nothing anyone can do to stop it.