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Topic: Alan Greenspan blasts Bush, praises Bill Clinton
| Author | Message |
| UGoGirl | Posted – 9/15/2007 10:16:03 PM | show profile I'm not a fan of Alan Greenspan. I think he's helped screw us all for decades to come through some of his economic policies (for example, thanks Alan for creating our current super bubble) and support for Bush's disasterous tax cuts. But he has some interesting things to say in his new book about Bush, Bill Clinton, the GOP, etc. For instance, he expresses great disappointment in Bush and the GOP for running our deficits way up. He seems a kindred spirit with Bill Clinton in making tough choices to bring the deficit down. He sees a future likely with either high inflation or high interest rates. "How the Federal Reserve responds to a reemergence of inflation" will have "a profound effect not only on how the U.S. economy of 2030 turns out but also, by extension, on our trading partners worldwide," he wrote. And "I am saddened that it is politically inconvenient to acknowledge what everyone knows: The Iraq war is largely about oil." No kidding. In the end, though, he's optimistic about our future, largely because we are an adaptable people (which I agree with -- as a society at large, we're going to have to be more adaptable than any of us have seen in our lifetimes). |
| crimedog | Posted – 9/16/2007 3:40:10 PM | show profile It's all about oil. Watched McCain and Kerry go at it on Russert this morning. There are times one wishes someone would throttle McCain. The guy will not face facts and bullies every conversation. I give Kerry big marks for taking it to McCain. McCain has to remove the irritating smirk that robs his face. |
| UGoGirl | Posted – 9/16/2007 11:06:08 PM | show profile McCain is so out of it. He should just throw in the towel right now and go on vacation or something. |
| crimedog | Posted – 9/16/2007 11:10:56 PM | show profile MCain will never be president only a pundit. Good segment on Greenspan on 60 Minutes tonight. A most interesting an engaging man. I also like Chuck Hagel's blow-up on Bush. Greenspan certainly gave Clinton high marks for his intellect and attention to detail. |
| UGoGirl | Posted – 9/17/2007 7:45:13 AM | show profile I missed the 60 minutes interview (thought of it but then forgot to set the VCR). Sometimes I worry, at least a tad, that with all my yammering (here anyway) about how many problems the US has, that perhaps I'm just paranoid and delusional. So it makes me feel that maybe I'm not so crazy when I see someone like Greenspan say the same thing, as below. ******* Question: What should we be worried about most right now in terms of the economy? Strangely enough, I think it's politics. We have a dysfunctional political system in the sense that there are very serious fiscal problems out there, most importantly Medicare. As best I can judge, when the baby boom retires, we are going to have to either raise taxes very sharply or cut benefits by half. No politician wants to confront this. And this is a very sad event because what's at stake here is the fiscal stability of the American government. ...the problem is that the arithmetic is inexorable here. I don't see how you get around that. Prudent policy would be to adjust the longer term now, not when it becomes a serious problem for people who have already retired and are told after the fact that they will not be getting the real Medicare that they expected. Tell them now, when they're still not retired and have the choices of working longer or doing other things to adjust. I think it's unethical and immoral for a government, when confronted with these types of events, not to take action. What do we elect people for? Fortune |
| crimedog | Posted – 9/17/2007 9:15:44 AM | show profile He saved his disdain for Bush one and two. Ugo - there's a certain amount of paranoia involved - a healthy amount. The greater fear should focus on Bush's plan at striking 2,000 sites in Iran. This is getting frightening. |
