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Unregistered
Join Date: Aug 2000
Location: a wretched hive of scum and villainy
Posts: 55,652
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I'll agree that Greenspan (and most economists) are screwed up but I'd also say that the US economy is too strong to collapse. It will rebound as it always has. That is, unless the economists kill it.
Grenspan and most other economists have such large egos that they think they can control natural economic cycles. Most of the time they shouldn't even try. Their heavy-handed meddling causes drammatic swings and counter-corrections that often do more damage that what they were trying to correct.
Greenspan's politically motivated manipulation did more damage to our economy that most realize. We would have been better off without him. Bernanke is just as bad if not worse.
While trying to save the mortgage melt-down that greenspan orchestrated, he is hurting the value of the dollar and driving up domestic oil prices. leave it alone, put interest rates back up where they belong and let it run it's course. In the long run we will all be stronger for it.
Last edited by sammyg2; 12-17-2007 at 10:02 AM..
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