Alan Greenspan interviewed on Democracy Now 4

Naomi Klein and Amy Goodman grill the former FED chairman, this is unprecedented (ie Greenspan having to answer real questions from people who know what to ask), very funny at times:

NAOMI KLEIN: Well, you mentioned Latin America, and, of course, there is a rise in leftwing political parties and movements in Latin America. But this is after decades of adherence to IMF structural adjustment policies, and it's precisely because those policies failed to lift people out of poverty in countries like Bolivia that you have this rise of what you're calling economic populism. It's because trickle-down economics was seen to have failed. But you also mentioned economic populism in Latin America in your book, and you blame it for inflation episodes and the collapse of regimes and the toppling of governments, and one of your examples was Chile in the 1970s. Was Chile -- was Salvador Allende's regime toppled because of inflation, or didn't the CIA have something to do with that?

ALAN GREENSPAN: Well, look, let's -- I'm using Latin America as an example. The key question is not Latin America. Let's get back to the United States. Let's get back to the world at large and face the issue of populism here. Remember, the populist issue in Latin America goes back to the roots of Spanish and Portuguese colonization.

NAOMI KLEIN: I'm aware of that, Mr. Greenspan, but there are many developmentalist policies that were trying to address those colonial disparities. They were called it import substitutions. And those leaders were systematically eliminated in a series of coups.

Category:

News & Politics

Tags:

• Alan
• Greenspan
• Amy
• Goodman
• Naomi
• Klein
• iraq
• missing
• billions
• FED
• libertarian
• republican

[BahrainiScribe]

I would love to see Stiglitz and Greenspan debate policy in the political economy (USA or global issues).

[madashelldude]

@BahrainiScribe I think that debate would be moot: Greenspan's views are flatly discredited by facts such as the debt to GDP ratio as published in the Historical Tables Section 7 in every budget since 1940: supply side econ is a fraud like "scientific marxism" or APR financ. It never could pay its way in the world and it will never be able to simply because capitalism needs supply and demand to be in balance and any system that's on the side of 1 or the other is going to end up out of balance!

[commanderfreaky]

NAOMI KLEIN.................OWNED. I like how when Greenspan explained how capitalism has lifted more people out of poverty and her response was to shuffle for some more info in her papers while he's just simply kicking back drinking a whiskey and saying inside his mind..........."rookie"

[pureperil]

Stupid dumb cunt!!!! DURRRRRRRRRRRRRRRRR!

[madashelldude]

@educheny provide just 1 (one!) as "somebody who knows something" LOL! the arrogance of you people is astounding!

[educheny]

@szatmar666 I can provide lots of arguments against what she said (or implied). I was just summarizing for you. And as somebody who knows something about economics, I can assure you that she is quite ignorant on the subject. And, as I said before, I consider myself a neoliberal--not a conservative.

[szatmar666]

@educheny "trite and vacuuous", kinda like your comment. It amazes me how much you cons can project: you make empty ad hominem remarks without ever detecting the irony in bashing someone for not understanding economics while you yourself have no argument of any substance regarding economics or anything of she actually said.

[educheny]

@szatmar666 Many people comment on her looks and sex because there is nothing else interesting about her (at least from these videos). Her ideas are trite and vacuous. She has a juvenile mentality (reminiscent of Lisa Simpson, but worse). She is wholly lacking in understanding of economics. And despite her ignorance, she still displays an arrogant, self-confident demeanor to the world.

[educheny]

@madashelldude I never said there was no difference between the private and public sectors. You're putting words in my mouth. What I said was: "Well-run businesses think long-term as well. Many of them have plans that go out a decade or more."

[educheny]

@madashelldude What are you talking about? Interest rates are not at 0%. The Fed Fund rate is currently at .14%--but that is only for overnight borrowing between banks. Short-term bonds (~1 year maturity) are currently yielding around 1%, intermediary bonds (~6 year maturity) are currently yielding around 2-3.5%, and long-term bonds (~20 year maturity) are currently yielding around 4-5%.