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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: RMF who wrote (69193)	2/23/2014 10:15:03 AM
From: LLCF	Read Replies (1) \| Respond to of 71588

Now Greenspan is famous on WS for bailing them out with "the greenspan put" any time the market went south... if the system weren't so complex as to make direct correlations next to impossible, he would probably end up in the history books as the cause of the last recession and indirectly the one to come, which will probably be much worse. I suspect that future ECON books use him as an example of the classic road to bubble economies... as good a reason to outlaw the fed as there has ever been. DAK

To: RMF who wrote (69193)	2/24/2014 10:36:09 PM
From: greatplains_guy	Read Replies (1) \| Respond to of 71588

Greenspan was trying to help keep Social Security afloat for another decade. It was getting dangerously close to being bankrupt and he helped create the political will to do something before it collapsed. Nobody today has that kind of will. If they did it would more likely come from people outraged over the raiding of the fund to give welfare to immigrants than from those wanting to soak the working class even worse. ObamaCare is the worst offense against working Americans so far. It will destroy the American economy after it finishes destroying the American medical system. People don't have enough more after the new Obama taxes to make Social Security solvent. It has been said that Greenspan later regretted enabling the additional taxes. They simply were used to finance deficit spending rather than saving the money for now, when payments exceed receipts.