The free market ideology is in conflict with traditional values. Such as solidarity. People are made responsable only for there own lives.
This undermines common interests. As the envoriment, overpopulation, hunger, oil usage. Future generations are going to accuse us of stupidity. The're probably wright. But like in the dark ages, it's hard to beat the spirit of the age...
Greenspan, with all of his academic credentials and exalted economic status, is a complete and utter idiot in matters of real business and real "money". And unfortunately, that is the world that we live in, and the circumstances that control our lives.
So the treasury has used the Fed as a personal banking backup and let the Banks continue to underfund and pay out huge sums of money to share holders. Greenspan was just the latest in a long line of Secretaries who did so. And in the process managed to ignore the Housing Market Bubble and the Feds Regulatory responsibility to limit such growth through interest rates. I would love to hear what Jim Says about Geithners illicit activities.
The free market ideology is in conflict with traditional values. Such as solidarity. People are made responsable only for there own lives.
This undermines common interests. As the envoriment, overpopulation, hunger, oil usage. Future generations are going to accuse us of stupidity. The're probably wright. But like in the dark ages, it's hard to beat the spirit of the age...
nickthekickBelgie 1 year ago
Greenspan, with all of his academic credentials and exalted economic status, is a complete and utter idiot in matters of real business and real "money". And unfortunately, that is the world that we live in, and the circumstances that control our lives.
pretorious700 1 year ago
Thank you.
fliskris 1 year ago
looks more likely to me Greenspan was wrong 100% of the time
pretorious700 1 year ago 5
Anyone who doesn't know that they are manipulating the free market system shouldn't be a central planner abusing other people's money.
mustang607 1 year ago
i love jim grant.
badonkadonk34 1 year ago 2
So the treasury has used the Fed as a personal banking backup and let the Banks continue to underfund and pay out huge sums of money to share holders. Greenspan was just the latest in a long line of Secretaries who did so. And in the process managed to ignore the Housing Market Bubble and the Feds Regulatory responsibility to limit such growth through interest rates. I would love to hear what Jim Says about Geithners illicit activities.
hobo59 1 year ago