Greenspan: U.S. recovery "extremely unbalanced"

[Newsjock]

Source: Reuters

Former Federal Reserve Chairman Alan Greenspan said on Tuesday the U.S. economic recovery was "extremely unbalanced," driven largely by high earners benefiting from recovering stock markets and large corporations.

Small businesses and the jobless are still suffering from the aftermath of a credit crunch that was "by far the greatest financial crisis, globally, ever" -- including the 1930s Great Depression, said Greenspan in an address to a Credit Union National Association conference.

"It's really an extraordinarily unbalanced system because we're dealing with small businesses who are doing badly, small banks in trouble, and of course there is an extraordinarily large proportion of the unemployed in this country who have been out of work for more than six months and many more than a year," said Greenspan, who headed the Fed from 1987 to 2006.

With both housing starts and auto sales "dead in the water," he said he thought it would be difficult to make the case that the economy is poised for a strong rebound.


Read more: http://finance.yahoo.com/news/Greenspan-US-recovery-rb-1788218485.html?x=0&sec=topStories&pos=8&asset=&ccode=

[Guy Whitey Corngood]

1. I'm sure he's just soooooo shocked. nt

[goclark]

34. Mr. Andrea Mitchell please shut up!

[Roland99]

35. Not to mention completely broken up about his role in the whole fiasco.

NOT.

[Uzybone]

2. Useless SOB

[Writer]

3. So... what's his solution? n/t

[OhioChick]

4. No shit, Alan. n/t

[aquart]

5. And whose fault is that, Greenspan, you ass?

[Arctic Dave]

6. So in other words, "all according to plan". Piss off. n/t

[NC_Nurse]

7. Thanks for nothing. You and your Ayn Rand fetish screwed us all.

[Dr.Phool]

8. Dr. Phool says,

Greenspan extremely unbalanced.

Geithner and Summers too.

[Mithreal]

13. +1

[Dr.Phool]

18. LOL

[skoalyman]

14. ding ding ding

bingo doc:hi:

[Gman2]

9. Sleep well, sweet prince.

[RainDog]

10. TAX THE RICH FUCKERS

it isn't really that hard to figure out how to "let" the rich insure they aren't the only ones who benefit from "socialism."

[liberation]

11. Imagine how much better this country would have been if Ms. Rand and her Vienna fan club had had...

... their entry visas denied.

Funny how the priests of the "fuck you buddy, I got mine (and yours)" church, depended entirely on the charity and good intentions of their adoptive country. While they were the first ones in line when it came to deny the same benefits to others who may have been worthier. I have seen some aggressive parasitic organism in nature, display far more restrain and decorum that this whole Objectivist hate cadre.

[Juneboarder]

12. Gee... I wonder what makes him think that!?! n/t

[Dappleganger]

15. IOW, Your buddies will be taking you out for steak after all, Mr. Greenspan. nt

[unblock]

16. i'm beginning to think this joker actually lost a TON of money in the last couple of years

and if so, it couldn't happen to a more deserving fool.


now he thinks what we're going through is even worse than the '30s?
sure, it majorly sucks, but, no, it's not "by far" worse.

[CountAllVotes]

21. I think that you hit the nail on the head

and yes, you know damn well he lost a load and then some the past couple of years.

Anyone that has been actively playing the stock market for the past 10 years has lost a load and then some and that includes the teflon Alan Greenspan who knows nothing as we see!

Shut the hell up Greenspan. YOU are irrelevant!

:dem: :kick:

[dysfunctional press]

24. which probably leaves him withonly 4 or 5 tons of money.

poor fella.

[Dr.Phool]

25. His wife has a good job.

[dysfunctional press]

26. i'm guessing that andrea is not too fond of the missionary position...

would you like to see this having sex with you?

[fascisthunter]

17. thanks for Nothing Green Spine

[blueworld]

19. sitting in a lifeboat, narrating the death of the Titanic. Freakin' ass should be fined. n/t

[Hawkowl]

20. The crumbs are too large!

Greenspan means that the little people are receiving too many crumbs through wasteful government programs such as food stamps, unemployment and social security.

In order for the market to correct it itself and restore balance, i.e; the top 5% own the bottom 95% (see the two numbers add up to 100%. That is balance!), then the government must tax people MORE if they have NO income. See, that will reduce their value of leisure time and all these lazy poor fucks will get jobs and start paying the MAN.

Right now we are rewarding laziness by giving away money to people who are not WORKING! Milton Friedman is rolling over in his grave right now. I shudder to think of what the gipper is doing right now. If Reagan were still in charge he'd just fire all these welfare queens from the government dole!

Balance. Give me everything you have. Give me everything your children's children will have. Then drop fucking dead because extended illness costs too much. THAT's Greenspan's definition of balance.

[salguine]

22. And anyone is paying attention to Alan Greenspan any more because...?

[JEB]

23. Greenspan states the obvious.

Brilliant!

[Romulox]

27. Trickle Down economics has always worked in the past! Why did the bankster bailouts fail to trickle

???? :shrug:

[OhioChick]

30. Oh, we're being "trickled upon"....... n/t

[SlingBlade]

28. Greenspan needs to SHUT his lying mouth and take responsibility

for what HE caused.

Amidst the 1990s' bullmarket, there was one lone regulator who warned about derivatives' dangers --
and suddenly became the enemy of some of the most powerful people in Washington...
Greenspan,Rubin,Summers,Levitt.

http://www.pbs.org/wgbh/pages/frontline/warning/

[liam_laddie]

29. Damn right! Born is a major heroine.

Maybe I should say hero, so's to avoid feminist flames...in any case she should be awarded great honors for speaking truth to powerful arrogant assholes/thieves. Alan G should be exported to St. Helena...:puke:

[SlingBlade]

31. That would be a start, Huh :)

[sendero]

32. Yes Douchebag..

.... this is what your libertarian policies have wrought. You stupid piece of shit.

[mike_c]

33. eat the rich....

eom

[Javaman]

36. if anyone knows "unbalanced" it's certainly greenspaz. nt