The Greenspan "Bubble Theory of Economic Recovery"

[truedelphi]

This one man, who has been an Ayn Rand follower since the nineteen fifties, has (ironically) lived to see his policies lead the way for our nation to socialize the workings of the top one percent of the economic purveyors of our economy, to the extreme detriment of almost everyone else.

He has served under both Bush Administrations and throughout the two terms of Bill Clinton.

During his tenure at the Federal Reserve, the notion of Supply Side economics took root and then prevailed, while average Americans watched their jobs go overseas.

He is in part responsible for the Dot com economy of the late nineties, and the following housing bubble.

And Bernanke/Geithner follow the outlines of his policies, creating yet another Bubble economy, and due to the New Final Bubble's being related to the stock market edging up, a bubble that is even more "jobless" than previous bubbles.

Any comments?

[Turbineguy]

1. I don't think

Bernanke and Geithner are following his policy. Especially since even Greenspan said he'd gotten it wrong.

[truedelphi]

2. The derivatives that Greenspan failed to

Speak out against, they are still in place. The same style of "investment startegies" are going global, with China speaking out against them when it suits China, but institutions in many other nations simply lapping them up.

And according to Max Keiser, our pension fund monies are still getting all too chummy with said derivatives.