GREENSPAN: Most certainly. But remember, all the forecasts come off econometric models, which didn’t catch the 2008 crisis.
So why the fuck ask Greenspan? You want credibility go to Stieglitz, Krugman or Roubini because all of their econometric models worked.
Greenspan:But what the data very clearly shows is that as social benefits rise, the savings, the domestic savings of the American economy declines. And that is basically the root source of funding for capital investment and capital investment is where productivity comes from and productivity is where economic growth comes from.
C’mon, Alan, what other factors might be involved in a lower savings rate and higher need for social services? Like, oh, let’s see: Unemployment? Downsizing? Wages not keeping up with inflation and thus families are more and more stretched just to cover necessities?
So, why, given that the Ultra Rich have increased incomes and savings, aren’t they funding more business expansions and start ups? Huh, huh???
WOW. Tunnel vision, much, Uncle Al?
Also, screw Obama and the Tranformational Pony he rode in on (his stated desire to cut SocSec/Medicare and also to create a lower standard of living to “be globally competitive.”
He really thinks he is the reincarnation –well, channeling?– of St. Ronnie.
But, we are the one who will be screwed. For generations to come.
jawbone where do you get your facts about Obama? Newsmax? FOX news?
Fuck Greenspawn. Should be the first to the guillotine.
GREENSPAN: Most certainly. But remember, all the forecasts come off econometric models, which didn’t catch the 2008 crisis.
So why the fuck ask Greenspan? You want credibility go to Stieglitz, Krugman or Roubini because all of their econometric models worked.
C’mon, Alan, what other factors might be involved in a lower savings rate and higher need for social services? Like, oh, let’s see: Unemployment? Downsizing? Wages not keeping up with inflation and thus families are more and more stretched just to cover necessities?
So, why, given that the Ultra Rich have increased incomes and savings, aren’t they funding more business expansions and start ups? Huh, huh???
WOW. Tunnel vision, much, Uncle Al?
Also, screw Obama and the Tranformational Pony he rode in on (his stated desire to cut SocSec/Medicare and also to create a lower standard of living to “be globally competitive.”
He really thinks he is the reincarnation –well, channeling?– of St. Ronnie.
But, we are the one who will be screwed. For generations to come.
jawbone where do you get your facts about Obama? Newsmax? FOX news?
Fuck Greenspawn. Should be the first to the guillotine.