The latest from the Duh Files. The guy who had a MAJOR role in the current state of affairs, and who once said there was no housing bubble, has the nerve to hawk his book in this Bloomberg interview:
http://mobile.bloomberg.com/news/201...s-fantasy.html
http://www.bloomberg.com/news/2012-1...s-fantasy.htmlOriginally Posted by wgadget
Pfizer Macht Frei!
Openly Straight Man, Danke, Awarded Top Rated Influencer. Community Standards Enforcer.
Quiz: Test Your "Income" Tax IQ!
Short Income Tax Video
The Income Tax Is An Excise, And Excise Taxes Are Privilege Taxes
The Federalist Papers, No. 15:
Except as to the rule of appointment, the United States have an indefinite discretion to make requisitions for men and money; but they have no authority to raise either by regulations extending to the individual citizens of America.
Thanks for the full link
He is right. From the choices of cuts and tax increases necessary to deal with the deficit and debt plus the impact those will have on the economy. One interesting thing he mentions:
Many economists see three percent as the necessary rate of growth to stablize unemployment. That will mean fairly stagnant levels of unemployment for the forseable future. The rate may slowly fall, but don't expect any heating of the economy or big drops in unemployment. He also added:Greenspan said the economy is poised for 2 percent growth, without specifying a time frame.
“Two percent is going to be our normal” for now, Greenspan said. “What is going to be the key factors in the long-term productivity outlook is innovation.”
Meaning there are always unforseen events- good and bad.“I think there are types of things out there we can have no insight into,” he said.
Greenspan said the “key part” of the deficit is “government social benefits to persons.”
Posting Permissions
Reply With Quote
Connect With Us