Tag: Alan Greenspan

Alan Greenspan loses his mind, recommends hyperinflation as a solution to the debt problem

Stock up on real estate and commodities, because Greenspan is recommending a recipe for hyperinflation.

There was a time when Alan Greenspan was considered a genius? When Congress hung on his every word? When the media swooned at his mere presence? When he was thought of as sexy by Hollywood starlets? What the hell happened?

Our guess? Too many nights sleeping in a malfunctioning hyperbaric chamber with Andrea Mitchell will make a man start thinking strange thoughts.

alan-greenspan
"Not three, not four, but five gazillion dollars," Alan Greenspan said. "That's all we need to print."

Like this one reported by CNBC:

Former Federal Reserve Chairman Alan Greenspan on Sunday ruled out the chance of a US default following S&P’s decision to downgrade America’s credit rating.

“The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default” said Greenspan on NBC’s Meet the Press.

“What I think the S&P thing did was to hit a nerve that there’s something basically bad going on, and it’s hit the self-esteem of the United States, the psyche” said Greenspan.

Stock up on real estate and commodities, because Greenspan is recommending a recipe for hyperinflation.

Source: CNBC

Alan Greenspan: Stop the stimulus, start the recovery

Massive government intervention to save the economy is to blame for the lagging recovery, Former Federal Reserve Chairman Alan Greenspan said Tuesday.

Did you know that Alan Greenspan was, for many years, one of Ayn Rand’s closest associates? With that in mind, it should come as no surprise that the former Head of the Fed is no fan of The Stimulus.

alan-greenspan
"Stop the stimulus, start the economy," says Alan Greenspan

CNN Money reports Greenspan’s Randian response:

Massive government intervention to save the economy is to blame for the lagging recovery, Former Federal Reserve Chairman Alan Greenspan said Tuesday.

Greenspan argued for less government intervention to get the recovery rolling and businesses investing in equipment and plants.

“What we need to do now is to calm down; let things move by themselves,” he said at a forum at the Council of Foreign Relations. “And indeed the rate of activism has decreased significantly and the ratio of capital flow has inched back up.”

“Less activism, more activity.”

Words to live by.

Source: CNN Money

CNN Money lionizes the Elders of the Economy, whoever they are

Of course, everyone knows that the Obama administration doesn’t want to raise taxes. It’s just so alien (see the Battlestar Galactica connection?) to everything they believe in.

battlestar-galactica-starbuck
Kara Thrace (callsign "Starbuck"), our favorite economist

The what? The who? We thought the Elders of the Economy were a group of aliens from the original Battlestar Galatica, but no.

Turns out that this newly-revered group includes “Alan Greenspan, David Stockman, former budget director in the Reagan White House, and former Treasury Secretaries Robert Rubin and Paul O’Neil” and any other economist or banker who’s ever come out in favor of higher taxes.

According to CNN Money, “Former Federal Reserve chairman Alan Greenspan was first and has taken the most extreme position, arguing that all of the Bush tax cuts of 2001 and 2003 should be allowed to expire.”

Of course, everyone knows that the Obama administration doesn’t want to raise taxes. It’s just so alien (see the Battlestar Galactica connection?) to everything they believe in. “The White House and most Democrats have argued for keeping the taxes cuts in place for most households, but letting them expire for those earnings more than $250,000, about 2% of the country.”

Yes, the Democrats HATE to raise taxes, but if Alan Greenspan says they must, well, then they simply must. Because everyone knows that they worship the former head of the Fed and are obligated to obey his every pronouncement.

Of course, the guys that Democrats now call “Elders of the Economy” are the same guys they were calling “sons of bitches” not too long ago. But all they had to do was mention raising taxes and they were instantaneously transformed into heroes of the Democratic party.

As Starbuck might say, “It sure seems like the Obama administration is all fraked up”

Source: CNN.com

I HATE THE MEDIA ™
Verified by MonsterInsights