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Home Front: Politix

Greenspan Is Critical Of Bush in Memoir

2007-09-16

As long as he stays in his field, the parts of this article that I managed to read made sense. I wonder if he buys into the concept of the Dollar Hegemony. I don't know exactly what it is, but it seems like if the US spreads its debt out across the world, then the entire world has a stake in keeping the dollar in the proper shape. Am I wrong? Greenspan seems to dislike lots of debt.
Alan Greenspan, who served as Federal Reserve chairman for 18 years and was the leading Republican economist for the past three decades, levels unusually harsh criticism at President Bush and the Republican Party in his new book, arguing that Bush abandoned the central conservative principle of fiscal restraint.

While condemning Democrats, too, for rampant federal spending, he offers Bill Clinton an exemption. The former president emerges as the political hero of "The Age of Turbulence: Adventures in a New World," Greenspan's 531-page memoir, which is being published Monday.

Posted by:gorb

#2 CW, you're a kindred spirit.
Greenspan is projecting his own failure on to Bush. "Fiscal Restraint"?? AG kept interest rates artificially low for years. AG bears a great degree of responsibility for the economic mess the US is just entering. "he predicts that the U.S. gross domestic product will be 75 percent larger than it is now" but after correction for inflation the growth will amount to little.

Posted by: Anguper Hupomosing9418 2007-09-16 10:10

#1 The man who allowed the major subprime crisis to occur, one a monkey could have foreseen, now sets his sites on foreign policy.

Greenspan, the man who made himself look good during his brief tenure by ~~printing money~~ keeping the interest rates artificially low.

Yes, the Iraq war was about oil. What about it? We don't need to worry about countries that don't threaten our national interests, now do we? The world is a cruel place. Energy makes it less cruel. I'm sick of people pretending that the oil, coal and nuclear, the fuel which keeps us warm, fed and in the lap of luxury is to be treated as some sort of evil.

Due to the pollution which clogs our lungs and poisons our water, I too hope we soon have clean energy sources. But in the mean time, I'm glad I don't have to go down to the river to pound my laundry and I'm glad I don't look sixty by the time I am 30 due to starvation and exposure.

This is just more of the limo liberals enjoying the fruits of modernity while whipping themselves as if it somehow shields them from their good fortune.

Greenspan gave a good party. We all had a good time. Now we are going to have to suffer the hangover and suppport the unwanted children born from our good time.

Yeah, you were the cool parent, Greenspan. But now we have to live with the mess you encouraged us to embrace. Soon, we will grow up and realize you weren't as great as we thought you were at the time. Deal with it. No, EMBRACE it and get the f*&^ off the stage. We need to grow up and move on.

Posted by: Cheasing Wittlesbach4201 2007-09-16 08:55

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