Alan Greenspan is a very old and a very smart man. Perhaps he’s had some time to reflect upon the grave dangers that his Federal Reserve policies placed upon the American economy. He’s been warning about entitlements and lack of investment for years now, but no one is listening.
Isn’t it amazing that we have people running this country who believe it’s okay to run up deficits year in and out, without ever thinking about the future? The hand outs are endless. The more people get, the more they want. Higher taxes for lower productivity. It’s a recipe for madness and failure.
Aside from that, Greenspan is concerned that stagnation might morph into stagflation. Should that occur, we’d be truly fucked.
Old man Greenspan is whistling in the wilderness.
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OK, just don’t cancel my Obama phone.
Selfishly, I’d like to see markets and housing collapse again. I sense we will see an event of that magnitude within a decade. But it will be a different flavor, which makes it interesting.
Markets have reached a permanently high plateau.
“Pissing in the wind” if you will