Alan Greenspan: The fiscal system is out of whack
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- Опубликовано: 10 июл 2024
- Former Federal Reserve Chairman Alan Greenspan on Federal Reserve policy, the outlook for the economy, the impact of the tax reform legislation, government spending and the Trump administration's trade talks with China.
Go away Allan . You were a huge part of putting this system into the shape that it currently finds itself . Don't stand on the sidelines now and act like you had nothing to do with it .
really? is our SHAPE worse than VENEZUELA's, or any other shithole country, for that matter?
Don't blame Allen, the Jews/Zionists control the FED.
Dave Brewer- You are correct, he has never said a thing about spending money we don't have. And as far as our babe Elke, Venezuela's Bolivar (their currency) can't be borrowed against like the world US Dollar. They can't go Trillions into debt like US.
Now for the next three racist hate mongers, blame yourselves. You sound like Democrats.
that is a literal demon wrapped in a skin suit
@@MsElke11 not yet but it's headed there thanks to economists like Greenspan and the Federal Reserve.
The most hard working people are retiring and the dependency class are growing...
Your just an idiot
Greenspan understood sound economics before coming into his Fed position. He wrote an essay in the 60's touting gold. But once he got in there, he became myopic and kick-started this whole stimulus, Keynesian nonsense. My suspicion is he realized the errors of his way and in now attempting to distance himself.
Norm Kid ... In the interest of the Labor class, the Social class, and toilers everywhere, we shall answer their demands for a gold standard by saying to them, I will not allow you to press down upon the brow of labor this crown of thorns. I will not allow you to crucify mankind on a cross of gold. Paraphrase. An excerpt of a speech given by William Jennings Bryan. Beautiful adaptation from the life of my Lord and Savior Jesus Christ, who loved us enough to die for our sins, so we can have eternal life and justification through him. Powerful speech and Powerful sacrifice of a loving God. Didn't mean to vent, but that gold standard insight brought back lots of memories. Thank you.
Ben Bernanke told Maria something similar some years back on CNBC. She asked about a nationwide decrease in housing prices and at that time Mr. Bernanke said, "Well, I guess I don't buy your premise." History might not repeat, but it rhythms.
If companies try to weasel around hiring and producing, remove tax breaks to individual companies. They're taking their golden parachutes right now, and that hit is for immediately before the elections.
For grow people need money ... between stagnation of wages and increases to medical ... your check is done...no money
They're coming for your Social Security...Carlin.
We are not only headed for a financial downturn, we are head for an international replay of 1928, a depression!
An interview with the fox on what the chickens should do to be safe.
It is striking that Fox news is pulling up the music while Dr. Greenspan indicates where the government is making a huge mistake : "Americans want to buy cheap Chinese goods, and what the tariffs would do is make them more expensive"
Despite having attained an unprecedented level of deterioration, AG is spot-on: Our economy is hosed and we are screwed. Cheers!
There's plenty of funding for the entitlements promised to the working people of this world Mr. Greenspan.....They are sitting in all the offshore accounts sir.
The last people with decent pensions are aging out and cashing in.. they were paid well for decades of work but those jobs don't exist anymore because of cutbacks or no trained employees available 4 minimum wage with no benefits 30 hours a week. Shouldn't blame the poor who qualify 4 benefits and work or care for dependents.. no good school no living wage makes us a country that scrapes by
How about cutting the defense bill to zero then you will have trillions for social security.
Alan Said a lot of Real Things about the Economy not the whole Truth but a lot of it.
The political solution to this economic problem is very tough. 21st century Americanism is also very tough and will eliminate the headwinds. The world is America's market, thanks to the hard work and sacrifices of the American people. Destroyers of Americanism will themselves be destroyed.
This is all lies. The United States debt to foreigners is not 8 trillion - it is actually 39 trillion. Check out the BIS (Bank for International Settlement) website and navigate to the "Debt Securities Statistics" section. According to table C3, the U.S. debt securities outstanding is 38.9 trillion as of Q3 2017. All of our of tax dollars go to the Fed for interest payments. Our debt is like mortgage never-ending mortgage payment to the bankers, our salary (GDP) can barely afford the interest.
I don’t know maybe the slow down is due to the masses don’t have money ... too much cookies for the fat cat ...
Long-term is not a dimension into which Greenspan will be.
Why does he feel the need to torture us further with his presence.
Allen Greenspan telling you The fiscal system is out of whack is like a burglar telling telling you your house was just robbed.
Exactly what David Stockman has been saying for a long time............
Is the extra cost actually worth it if it goes into the pockets of American workers?
sure. but the conservative are in power, so 90% goes to those that don't work and job loses are coming
That would only happen if the work force is being ballooned in size by illegals that don't pay taxes while people wonder why we don't have wage growth when any demand for labor is offset by more foreign workers moving in illegally. The demand for labor is one of the only ways to have actual wage growth.
You apparently like to pretend the tax cuts will end up as profit for the business owners, but in reality the first competitor that puts it into the business instead will have a competitive (drawing better workers in) or price advantage over the other.
Don't you worry though, we'll go ahead and make America great again for you.
+multihappyhacker lol, you clearly are an Imbecile, Keynesian economics has never worked... simply put greed always wins. This is how stupid you are, you actually believe that if you give all the money to the rich it will trickle down to you... you are paying more for groceries, gas, almost everything now! then you did under Obama, FYI
that is a literal demon wrapped in a skin suit
MARC STEINER: So where does the money come from, then, to invest in infrastructure, in new businesses, and whatever else has to be invested in?
MICHAEL HUDSON: Well, banks don’t invest. That’s a myth. The pretense is that rescuing the banks rescued the economy. But the banks don’t make loans to the economy. Banks don’t make loans to fund factories. They don’t make loans for infrastructure. They make loans to buy assets already in place. They’re privatizing the structure to take it private, raise the rates the people have to pay for services.
Essentially they lend to raiders taking over corporations. They won’t help a corporation put in more equipment and hire more people, but they’ll lend to a raider to break up a corporation, downsize the labor force, smash it up and leave it a bankrupt shell. That’s the financial management plan. That’s what they teach in business schools.
So the financial management philosophy that we have is diametrically opposed to what’s needed for economic growth. That should be what people are talking about, because more and more economists are warning that given the rising debt ratios, there’s going to be another crisis. What we should be talking about when we look back on the anniversary of Lehman’s bankruptcy is how to handle the next crisis in a way that doesn’t bail out banks, that bails out the economy by writing down the debts.
If banks have bad debts, they’ve made bad loans. Banks used to be conservative and prudent. But if they make imprudent loans and they say, we don’t care the borrower can’t pay because we’ve sold the whole loan off to a pension fund or a German Landesbank, and somebody else is going to take the loss, you have to restructure the banking system and the financial management, and take it out of the hands of bankers to manage.
If you leave the Treasury Department and the Justice Department and the bank regulators in the hands of bankers, they’re going to loot the rest of the economy. They’re going to take everything they can. So you want someone who’s not a banker to actually do the regulation.
Take a good look at this artifact and remember he is Mr. Andrea Mitchell...!!!
I don't approve a 25% reduction in Social Security benefits. It's not an entitlement.
how close does this number equal the tax grab that just got implemented?
+paleo libertarian lol you idiot, you are not even close... a handful of corp. collected that much by them selves. typical fox tard, aka conservative, aka lemming
holy crap fox digs these people up that were already dead! LOL
What? Oh for a second I thought he was a Ferengi from Deep Space 9. Stagflation sounds like another way to screw people out of money. Good job.
I am starting to think that the only reason Maria is inviting this man on air is to wait (and hope) that he'll drop dead ON AIR while talking to Maria. (And that'd be a huge news of course.)
Great point at the end. Tariffs are bad for the consumer. Who wants less choice and higher prices for products? I don't.
Are you that out of touch, how can a person living in a high cost of living country compete with slave wages it can't be done! Wake-up even Henry the 8 know better!!
I would buy "made in China" 50% cheaper than made in USA 50% more expensive any day! Who wants to pay more?? Not you either. If I can get more choice and cheaper price from imported goods, I won't buy made-in-the-USA just to be an idiotic patriot. Give me the same price Uncle Sam and I'll give you my greenbacks!
As for your other comment, tariffs and protectionism won't bring the jobs back to America. You will just have to pay more for your groceries.
Greenspan advised senior members of the George W. Bush administration to depose Saddam Hussein for the sake of the oil markets.[37] He believed that even a moderate disruption to the flow of oil could translate into high oil prices[38] which could lead to "chaos" in the global economy and bring the industrial world "to its knees".[39] He feared that Saddam could seize control of the Straits of Hormuz and restrict the transport of oil through them. In a 2007 interview, he said, "people do not realize in this country, for example, how tenuous our ties to international energy are. That is, we on a daily basis require continuous flow. If that flow is shut off, it causes catastrophic effects in the industrial world. And it’s that which made him [Saddam] far more important to get out than bin Laden."[40]
Now you know whom to blame for the IRAQI WAR!! Rightly so!!
Productive Milleneals? ROFLMAO
Still alive?😢😢
I thought......
All gold holders should tests for pure gold not fake with tombac inside.
I kept hearing the entitlement word! Do any of you know what he is talking about? And yes, I know the answer, So pretend this is Jeopardy and give it your best shot...Anyone?
This guy should be in jail ! No doubt !
Alan Greenspan, you have money. Be quiet. Shut down the Fed. Restore the gold standard.
He should be arrested
This slime ball is laying the groundwork for a collapse
GDP and jobs numbers is low paying jobs.part time jobs and services and sale's jobs not manufacturing.
....down the road...when ia THAT? Long after Trump for sure. Alan does not know what decade he is in?? LOL
You should know pal.
Dude your time has came and gone... retire
Leroy D. Griffin
more like he should just go away ⚰
Zzzzz... 15 second delays on all answers
Sorry, Greenspan was not good, just o.k. at best. He totally failed to see the 2008 crash and don't understand Trump economy.
Good? Heading up an organization designed to steal from the US Gov and the people and you can still be "good" at it?
TheFinnmacool. Yes. He is good at stealing.