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Thread: Greenspan says Government Activism Hurting Recovery

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    Greenspan says Government Activism Hurting Recovery

    cpwill predicts the reaction to this will be Ad Hominem.

    Former Federal Reserve Chairman Alan Greenspan said a surge in U.S. government “activism,” including fiscal stimulus, housing subsidies and new regulations, is holding back the economic recovery.

    Increased bond issuance by the Treasury Department crowds out borrowers with the weakest credit ratings, Greenspan said in an article in International Finance, published on the Web today. At least half of the shortfall in companies’ capital spending “can be explained by the shock of vastly greater government- created uncertainties embedded in the competitive, regulatory and financial environments” since the failure of Lehman Brothers Holdings Inc. (LEHMQ) in 2008, Greenspan said...

    “Much intervention turns out to hobble markets rather than enhancing them,” said Greenspan, 84, who was appointed Fed chairman by Republican President Ronald Reagan in 1987 and served until 2006. “Any withdrawal of action to allow the economy to heal could restore some, or much, of the dynamic of the pre-crisis decade, without its imbalances.”
    Last edited by cpwill; 03-04-11 at 08:37 AM.

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    Re: Greenspan says Government Activism Hurting Recovery

    And I predict the reaction from the right will be blind support because the statement supports their views!

    :smug:
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    Re: Greenspan says Government Activism Hurting Recovery

    I would say Alan Greenspan is the primary cause of the current economic crisis, who failed to see the multiple bubbles his economic policies created. His policies were a failure, and his judgement should be strongly questioned as a result.

    “Much intervention turns out to hobble markets rather than enhancing them,” said Greenspan, 84, who was appointed Fed chairman by Republican President Ronald Reagan in 1987 and served until 2006. “Any withdrawal of action to allow the economy to heal could restore some, or much, of the dynamic of the pre-crisis decade, without its imbalances
    This sentance says it all

    The pre crisis decade was marked by extremely loose monetary policy, debt loads for business and individuals increased at dramatic rates, all influenced by the loose monetary policy that Greenspan promoted. Two large asset bubbles occured during his watch. The dynamism of the pre crisis decade was caused by the asset bubbles (debt bubble). It was a decade of lax government regulation but strong government stimulus in the economy. From deficit spending to monetary stimulus. Now despite the amazing powers of hindsight, Greenspan fails to see his policies were a direct and major contributor to the current economic crisis, so taking his viewpoint about the failure of the current economic policies should be done with a grain of salt
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    Re: Greenspan says Government Activism Hurting Recovery

    Quote Originally Posted by Deuce View Post
    And I predict the reaction from the right will be blind support because the statement supports their views!

    :smug:
    We've been saying this forever.

    The government needs to get the hell out of it, and it'll recover. Every intervention just adds another six months or a year to the recovery time.

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    Re: Greenspan says Government Activism Hurting Recovery

    I predict puppies!

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    Re: Greenspan says Government Activism Hurting Recovery

    Quote Originally Posted by Erod View Post
    We've been saying this forever.

    The government needs to get the hell out of it, and it'll recover. Every intervention just adds another six months or a year to the recovery time.
    The only problem being, one cannot "fundamentally transform the Untied States of America" without gargantuan intervention.

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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, who failed to see the multiple bubbles his economic policies created. His policies were a failure, and his judgement should be strongly questioned as a result.



    This sentance says it all

    The pre crisis decade was marked by extremely loose monetary policy, debt loads for business and individuals increased at dramatic rates, all influenced by the loose monetary policy that Greenspan promoted. Two large asset bubbles occured during his watch. The dynamism of the pre crisis decade was caused by the asset bubbles (debt bubble). It was a decade of lax government regulation but strong government stimulus in the economy. From deficit spending to monetary stimulus. Now despite the amazing powers of hindsight, Greenspan fails to see his policies were a direct and major contributor to the current economic crisis, so taking his viewpoint about the failure of the current economic policies should be done with a grain of salt
    I have to agree partially with Greenspan, and also partially with this post. Greenspan left the interests rates low for far too long.
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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, who failed to see the multiple bubbles his economic policies created. His policies were a failure, and his judgement should be strongly questioned as a result.



    This sentance says it all

    The pre crisis decade was marked by extremely loose monetary policy, debt loads for business and individuals increased at dramatic rates, all influenced by the loose monetary policy that Greenspan promoted. Two large asset bubbles occured during his watch. The dynamism of the pre crisis decade was caused by the asset bubbles (debt bubble). It was a decade of lax government regulation but strong government stimulus in the economy. From deficit spending to monetary stimulus. Now despite the amazing powers of hindsight, Greenspan fails to see his policies were a direct and major contributor to the current economic crisis, so taking his viewpoint about the failure of the current economic policies should be done with a grain of salt
    Yep. Greenspan claimed there was no housing bubble even when it was about to burst. He talked like he knew everything, but he is just a fool.
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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, who failed to see the multiple bubbles his economic policies created. His policies were a failure, and his judgement should be strongly questioned as a result.



    This sentance says it all

    The pre crisis decade was marked by extremely loose monetary policy, debt loads for business and individuals increased at dramatic rates, all influenced by the loose monetary policy that Greenspan promoted. Two large asset bubbles occured during his watch. The dynamism of the pre crisis decade was caused by the asset bubbles (debt bubble). It was a decade of lax government regulation but strong government stimulus in the economy. From deficit spending to monetary stimulus. Now despite the amazing powers of hindsight, Greenspan fails to see his policies were a direct and major contributor to the current economic crisis, so taking his viewpoint about the failure of the current economic policies should be done with a grain of salt
    typical. you all loved him during the Clinton era and took credit for the massive bubbles for the so called surplus.

    now it's all his fault.

    I call this, having your cake and eating it too.

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    Re: Greenspan says Government Activism Hurting Recovery

    Quote Originally Posted by ARealConservative View Post
    typical. you all loved him during the Clinton era and took credit for the massive bubbles for the so called surplus.

    now it's all his fault.

    I call this, having your cake and eating it too.
    I didnt love Greenspan, I was blaming him for loose monetary policy in the 90s being a prime motivator for the tech bubble.
    Happy Hanukkah Cheerfull Kwanzaa
    Happy Christmas Merry New Year Festivus for the rest of us

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