Greenspan spazzes out in a fit of hand-waving. To wit:
Meaning what, exactly? Big, froofy talk designed to frighten children and adults who have chosen to remain as children. The sentence is pure, unsupported bull-dinky. Trouble for WHOM? Define "trouble". This is amateurish innuendo at its lamest, the sad part being that some "adults" will swallow that bait.”This is just the tip of the iceberg,” Greenspan said in an interview on CNBC. “The global economy is in real serious trouble.”
What other turds are there... Ah yes, this little gem:
Behind the slowdown in income is the sharp drop in worker productivity, according to Greenspan.
More talk with little to no substance. Firstly, against what standard is he measuring productivity? Compared with a worker of even just 20 years ago, the current crop are far and away more productive due to technological advances. Greenspan is spinning lies and deceit.
How does a drop in income relate to the purported drop in productivity? Not stated, relegating the statement to the status of bull-dinky.
ETA: I neglected to point out earlier that the bottom line of Greenspan's statement here is that incomes are effectively shrinking because workers are not producing. This is a great, steaming pile of bull$#@!. Nay, it is an outright and bald-faced lie. Greenspan is a pusillanimous liar whose opinions should be ignored in toto, the man shunned into ignominy.
Here he blames the loss in purchasing power in terms of net income on the lackluster performance of the worker. This fails on so many levels I barely know where to start. Suffice to say that when a worker egregiously fails to produce, bosses do not attenuate income rates or salaries, but rather separate the worker from his employment at that firm. That is rightly how the world works. If it worked the way Greenspan insinuates in the quoted statement, businesses and the economy of all the world would have failed decades ago. The man has zero credibility either for knowledge, personal integrity, or both. My money says it is the latter.
/ETA
Governments have to cut entitlements to reflect this weakness, he said.
Weakness in what? How about socialistic models of governance? I'd call this statement an unintended and slightly oblique admission that the "system" we have been globally instituting is a failure by its very design.
For pity's sake Juan - if you are going to cite an article in support of a point, at least cite one that is not so sadly inept as is this one. It is utterly vaporous bull$#@!.
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