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Stiglitz rips Greenspan [View All]

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duvinnie Donating Member (754 posts) Send PM | Profile | Ignore Fri Oct-31-03 02:07 PM
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Stiglitz rips Greenspan
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Joseph Stiglitz is sure there'll be no big economic recovery, and blames Bush and Greenspan. It would be dangerous to ignore his pessimistic forecasts, says Faisal Islam

(Stiglitz is former chief economist of the world bank)

http://observer.guardian.co.uk/bush/story/0,8224,1061022,00.html

When Clinton planned to spend more on social plans and anti-poverty initiatives, the Fed Chairman stopped him in his tracks because he so favoured deficit reduction. In 2001, however, he backed the tax cuts that led to the current huge deficits. Such actions 'betrayed Greenspan's dishonesty' and were 'very partisan economics,' Stiglitz says.

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