Recession
Tuesday, April 08, 2008
Well I guess it's official that economic hack known as former Fed Chairman Alan Greenspan has acknowledged that the US is in a recession. Thanks man, its not as if we didn't know already. Why anyone actually listens to this geezer and thinks he is somewhat intelligent is beyond me. The guy over saw multiple recessions and either acted too late or too overzealous and ignored the consequences. He goes on to say that the Fed actions were appropriate and not responsible for our latest credit crunch and mortgage crisis. Yep, just like Bush, he refuses to accept any responsibility for his actions (or inaction's) and blames others. Greenspan also thinks that the govt should bailout banks, investment firms and others affected and that we should look to the 80's Savings and Loans crisis. Once again, another republican who says they believe in Free Market Capitalism now wants the govt to bailout all the Wall Street execs who knowingly defrauded the country.
So next time some chest beating, red blooded republican tells you that the govt has no business meddling in the economy and giving poor folks handouts, kindly remind them that corporate welfare should be outlawed as well. If they can't agree to that statement then they are not a Free Market Capitalist and have no business even pretending that there should be a separation between govt and the markets.
http://news.yahoo.com/s/nm/20080408/bs_nm/usa_economy_greenspan_dc
Posted by mardenhill 4/08/2008 09:20:00 PM
Labels: Politics
