Greenspan is still trying to cover his tracks on his "legacy" --
OF LOOTING AND ASSET INFLATION FOR THE RICH...
Basically Greenspan took the world's strongest economy in 1987 and through Fed policy allowed the Cult of the CEO and the Wall Street elites to loot and pillage until today the US economy is a debt ridden wreck barely able to support itself without the help of the Communist Chinese...
In the process the US was DEINDUSTRIALIZED to avoid the power of domestic unions... And massive amounts of "liquidity" were provide to Wall Street and International Capital to give the "illusion" of growth where nothing but asset inflation was occuring...
Now Greenspan will leave the Fed and the US economy is a mere shadow of it's former self. China is the new industrial powerhouse.
Euroland has detached itself from the dollar...and struck out on its own with the Euro. And massive debt and bond holdings by foreigners are the only thing holding up the American Consumer...most of whom are now stuck with massive credit card debt that will soon be non-dischargable in bankruptcy.
GREENSPAN WAS THE GREATEST HYPER-INFLATIONIST OF ALL TIME...AS HISTORY WILL SHOW. TRUE, HIS HYPER-INFLATION WAS ALMOST TOTALLY IN THE AREA OF "ASSET INFLATION."
BUT INFLATION IS INFLATION IS INFLATION...NONE THE LESS...
Very likely the US economy will never recover from the GREEDSPAN YEARS!
