Quote:
Originally Posted by skytrekker
It is easy for Dr. Greenspan to blame the republicans or any other political party for this mess. And too blame specific world wide changes (the fall of Communism) etc for asset bubbles in 1999-2000 and again in 2005 with housing.
However was it not Greenspan that lowered real interest rates to near zero after the IT crash?? Was it Greenspan who agreed with Bush's tax cuts that wiped out the surplus??
And now Greenspan's successor, Bernanke is following the same script- with easy money to bail out the bad investments of many- while those of us who save and stay out of debt are penalized?
Greenspan is a phoney who has created this mess- and Ben Bernanke has followed in his footsteps (But with Bernanke- his length as Fed Chairman is likely to be far shorter)
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I think people don't understand what greenspan was talking about.
Republicans are SUPPOSED to be the party of balanced budget and small government, 2 things that the government definately hasn't done under Bush. The fact that when SCHIP comes around and then bush wants to act conservative is just pathetic. He has no problem spending hundreds of billions on a stalemated conflict, but refuses to pay for poor people's medical bills when his policies increase the price of gas, drop of the dollar, and shafting of the lower and middle class.
For "This mess" your talking about, i'm assuming the subprime thing? He wasn't blaming the bush admin for that, he just didn't realize how bad it was.
Regardless what you guys say, he oversaw the longest economic expansion in the 20th century, if not the history of the US.