The opinions expressed by columnists are their own and do not represent our advertisers

Wednesday, March 02, 2016

"We're In Trouble": Alan Greenspan Delivers Stark Warning

Were you wondering what Alan Greenspan thinks about the outlook for monetary policy across the globe?

Neither were we, but Bloomberg was and Tom Keene and Mike McKee got the “privilege” of sitting down with the “maestro” on Monday afternoon to discuss a variety of topics including NIRP, which Greenspan says “warps investment behavior.”

While he isn’t willing to go so far as to condemn negative rates as “dangerous,” he does say the global race to the proverbial Keynesian bottom is “counterproductive.”

As far as the US economy is concerned, Greenspan isn’t optimistic. “We’re in trouble basically because productivity is dead in the water…Real capital investment is way below average. Why? Because business people are very uncertain about the future.”

Well yes, they most certainly are. Of course were it not for “the Greenspan put” and decades of policy largesse we might not have ever had a financial crisis in the first place (David Stockman will tell you all about Greenspan’s role in creating the conditions we now find ourselves in).



Anonymous said...

Excuse me? Greenspan and his policies got us into this economic sh*tshow to begin with, what kind of warning or advice could he offer that anyone could possibly want to listen to?

Anonymous said...

He is the biggest reason we are in this mess. Thanks but no thanks for your input.