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Thread: Greenspan says Government Activism Hurting Recovery

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    Re: Greenspan says Government Activism Hurting Recovery

    Quote Originally Posted by Lord Tammerlain View Post
    I didnt love Greenspan, I was blaming him for loose monetary policy in the 90s being a prime motivator for the tech bubble.
    you are a huge exception then. most liberals still think Clinton was a genius for the surplus created primarily from the end of the cold war, the tech bubble, and accounting tricks involving public/private held debt.

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    Re: Greenspan says Government Activism Hurting Recovery

    Quote Originally Posted by ARealConservative View Post
    you are a huge exception then. most liberals still think Clinton was a genius for the surplus created primarily from the end of the cold war, the tech bubble, and accounting tricks involving public/private held debt.
    The only thing I will Clinton credit for is not actually spending the extra money that was coming in due to the tech bubble (credit also goes to the republican controlled congress). This was different then the Bush admin which spent the extra money coming in and then some

    As for Greenspan I believe he was against the potential of the government surplus's being used to pay down debt if I recall correctly. Another mark against him
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    Re: Greenspan says Government Activism Hurting Recovery

    Quote Originally Posted by Lord Tammerlain View Post
    I would say Alan Greenspan is the primary cause of the current economic crisis,
    That's almost as bad as blaming Bush and Obama for every woe or every success. I thought you were more reasonable than that.

    But even if you want to try and scapegoat billions of individuls who made conscious choices to take out loans for things they couldn't afford, or distribute loans they knew could be defaulting, or rated sub primes as AAA.....on one person...well.

    Greenspan was working as an instrument of Government before and during the economic crisis. So, you actually agree with his sentiment that government is the problem.
    Last edited by Mach; 03-04-11 at 02:56 PM.

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    Re: Greenspan says Government Activism Hurting Recovery

    Quote Originally Posted by Lord Tammerlain View Post
    The only thing I will Clinton credit for is not actually spending the extra money that was coming in due to the tech bubble (credit also goes to the republican controlled congress). This was different then the Bush admin which spent the extra money coming in and then some

    As for Greenspan I believe he was against the potential of the government surplus's being used to pay down debt if I recall correctly. Another mark against him
    his point was that their was no surplus. it was an accounting trick by increasing intra-governmental holdings and decreasing public debt by the same amount.

    the combination of public debt + intra-govt debt increased every year Clinton was in office.

    see for yourself

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    Re: Greenspan says Government Activism Hurting Recovery

    Quote Originally Posted by cpwill View Post
    cpwill predicts the reaction to this will be Ad Hominem.
    Apparently you don't get it. While I agree that there shouldn't be complete economic regulation, we saw what happened when we had little to no regulation and that bought the global economy to the brink of collapse.
    "And in the end, we were all just humans, drunk on the idea that love, only love, could heal our brokenness."

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    Re: Greenspan says Government Activism Hurting Recovery

    Quote Originally Posted by Mach View Post
    That's almost as bad as blaming Bush and Obama for every woe or every success. I thought you were more reasonable than that.
    .
    What single person had the most power over the direction of the economy? Who set interest rates, monetary policy and money supply. What one person could have stopped the housing bubble in it's tracks?
    "This Administration will constantly strive to promote an ownership society in America. We want more people owning their own home. It is in our national interest that more people own their own home. After all, if you own your own home, you have a vital stake in the future of our country."" GWB

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    Re: Greenspan says Government Activism Hurting Recovery

    Quote Originally Posted by ARealConservative View Post
    his point was that their was no surplus. it was an accounting trick by increasing intra-governmental holdings and decreasing public debt by the same amount.

    the combination of public debt + intra-govt debt increased every year Clinton was in office.

    see for yourself

    Debt to the Penny (Daily History Search Application)
    FactCheck.org: During the Clinton administration was the federal budget balanced? Was the federal deficit erased?

    http://www.cbo.gov/ftpdocs/108xx/doc...icalTables.pdf
    "This Administration will constantly strive to promote an ownership society in America. We want more people owning their own home. It is in our national interest that more people own their own home. After all, if you own your own home, you have a vital stake in the future of our country."" GWB

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    Re: Greenspan says Government Activism Hurting Recovery

    Quote Originally Posted by USA_1 View Post
    What single person had the most power over the direction of the economy? Who set interest rates, monetary policy and money supply. What one person could have stopped the housing bubble in it's tracks?
    the politicians that brought us new deal and great society programs are the ultimate creators of these bubbles.

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    Re: Greenspan says Government Activism Hurting Recovery

    I provided a link to the us treasury. run the numbers yourself, you will see that the only thing reduced is publicly held debt.

    http://www.craigsteiner.us/articles/30
    Last edited by ARealConservative; 03-04-11 at 03:07 PM.

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    Re: Greenspan says Government Activism Hurting Recovery

    Quote Originally Posted by ARealConservative View Post
    the politicians that brought us new deal and great society programs are the ultimate creators of these bubbles.
    Bubbles existed before the new deal and great society and they will exist after

    Bubble creation is a function of debt creation. Control the amount of debt being created and bubbles will also be controlled. Allow for a large amount of debt to be created and the potential bubble will be large. The institutions that control money supply are the ones who can help create bubbles (the environment required for one) or help prevent bubbles (eliminating the environment for one)
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