Quote:
Originally Posted by sammyg2
I'll agree that Grenspean (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.
|
Sammy,
Neither Greenspan or the current Fed. Bank chief or the interest or any economist is the chief culprit. Our trade policy is the true long range issue. It's a freight rain heading right at us and we have goobers like Bush and the spineless Dems in charge and sending Paulson on useless trips to China to pretend to be doing something about it.
The problem is not China. They are simply going to do what is best for their nation. Our problem is in Washington, DC where the clods who are supposed to be doing what is best for OUR nation are ignoring the problem. And our kids and grand kids will pay dearly for the politicians economic immorality.