• Krugman: Greenspan is an idiot

[kpete]

What really distinguishes Greenspan here are two things. First, his reaction to the fact that even in 2010 it was obvious that markets weren’t performing according to his predictions:

This is regrettable, because it is fostering a sense of complacency that can have dire consequences…

My analysis can’t be wrong, the markets are just misbehaving!

And, above all, the fact that for many years this guy was regarded as the Maestro, a man of almost supernatural wisdom and judgment.

http://krugman.blogs.nytimes.com/2013/07/17/the-prophecies-of-maestrodamus/

[Laelth]

1. I would trust Krugman over Greenspan any day of the week. n/t

-Laelth

[liberalmike27]

9. Thing is

They say "It will be better for 'us' if we do (whatever)."

Some trust them, that they are included in the 'us' in question. But what they mean by 'us' is 'the rich.'

Distrust the pronoun, as you might not be included, or you may be included in the bad ones. "America" is another abused word, as the rich often they "they" are America, that America doesn't include all of "us."

[Laelth]

12. Salient points, all around.

And those of us on the left are completely discredited in the circles of power, as you delicately imply above. What to do about that, I have no idea, but my goal is to convince our ruling oligarchs that a healthy dose of liberal policy would go a long way toward making them (the oligarchs) a lot richer while, at the same time, making the rest of us a lot happier.

More on this here: http://laelth.blogspot.com/2011/01/turning-american-ship-of-state.html

-Laelth

[pansypoo53219]

2. evidence of his supposed wisdom goes to reagan + his baby boom social security fix when the the was

and not to INFLATION. i have nver bought into his 'brilliance'. ALL YOU NEED TO KNOW is he was an acolyte of ayn rand + he didn't expect wall streeters to be GREEDY FUCKS.

[ladjf]

3. Yes, but he is a rich idiot. nt

[Jackpine Radical]

4. Jackpine: Krugman is wrong.

Greenspan is a psychopath.

[Hydra]

5. Like everyone else in power lately

You can read it as them being stupid beyond measure, or fathomlessly evil.

I vote option 2.

[abelenkpe]

6. I'd go with option 2 as well. nt

[struggle4progress]

7. Greenspan is a Randian, who after departing from his long cushy gig, admitted that his philosophy

was always that everything would sort itself out through some abacadabra market magic without him doing a thing: that is, he finally told us, after many years of uttering occasional cryptic crap that caused his admirers to swoon, that he had really been doing nothing at all except collecting his big fat paychecks

Think about it: that smirking shirker picked up $180K a year merely to look serious and mumble some meaningless malarkey every few months

It's disgusting

[Jackpine Radical]

8. Randianism is codified psychopathy.

[Helen Borg]

13. When things go well...

there is no need for a "leader". It is when things get tough that the skills of a leader become critical.

[byeya]

10. Greenspan gave a veneer of gloss to the illicit W administration to cut taxes on the rich

and spend as much as he wanted on the MIC. Surpluses are dangerous. Clinton was naughty for creating a budget surplus.


Bubble, what bubble?

[another_liberal]

11. "My analysis can’t be wrong, the markets are just misbehaving!"

Greenspan had a lot of fun riding the bubble as it inflated, now he's having to pay for that ride with his diminished reputation.