‘Fear of the Future’ Keeps Lid on Economic Growth: Greenspan

CNBC ^ | 06/01/12 | Jeff Cox

[TigerLikesRooster]

‘Fear of the Future’ Keeps Lid on Economic Growth: Greenspan

ECONOMY, INFLATION, EMPLOYMENT, UNEMPLOYMENT, MANUFACTURING, CPI, CONSUMER PRICE INDEX, JOBLESS CLAIMS

Posted By: Jeff Cox | CNBC.com Senior Writer

CNBC.com | 01 Jun 2012 | 07:39 AM ET

Investors could revolt at a moment's notice against high government deficit levels, jeopardizing chances at a recovery and potentially sending interest rates soaring, former Federal Reserve Chairman Alan Greenspan told CNBC.

The former central bank leader — nicknamed "The Maestro" by his supporters — said he worries the current economy could be heading on a path similar to 1979, when the 10-year Treasury note was yielding around 9 percent before surging dramatically, gaining 4 percentage points in just a few months.

"I listen to a lot of what people say that we don't have to worry. We can do it in our own time," Greenspan said in regard to trying to bring down Washington's $1.2 trillion budget gap. "Good luck. The markets have not been told this."

[TigerLikesRooster]

Apparently, Andrea is not taking proper care of old Alan. He is bored and veturing outside, opening his mouth and embarrassing himself.

[TigerLikesRooster]

P!

[The Sons of Liberty]

‘Fear of the Future’ Under 0bama Keeps Lid on Economic Growth: Greenspan

If Alan were to speak the truth!

[Cheerio]

‘Fear of the Future FOUR YEARS OF ZERO’ Keeps Lid on Economic Growth: Greenspan

There, I corrected the headline.

[Cheerio]

You beat me by a minute!!

[liberalh8ter]

Captain Obvious overheard saying, “No Sh@t, Sherlock!”

[Lockbox]

or DUH!

[Jack of all Trades]

When you write a check that you can’t ever cover, it’s natural to fear the future. When central banks collude with governments to allow hedge funds to masquerade as “investment banks”, and write tens if not hundreds of Trillions of dollars of obligations that they can never cash, while at the same time counting each other’s obligations as assets, then fear is a pretty logical reaction for those who are paying attention.

[liberalh8ter]

LOL!

[DManA]

How can you plan for your business when it’s impossible to predict what the government is going to do to you next month let alone 5 years from now.

[khelus]

When you write a check that you can’t ever cover, it’s natural to fear the future. When central banks collude with governments to allow hedge funds to masquerade as “investment banks”, and write tens if not hundreds of Trillions of dollars of obligations that they can never cash, while at the same time counting each other’s obligations as assets, then fear is a pretty logical reaction for those who are paying attention.

Yup. Now factor the corruption of basic government stats on employment, inflation, and the GDP, and the only logical reaction is fear.

[AndyJackson]

From the guy who printed the monopoly money that got this whole thing going.

[SunkenCiv]

Thanks TigerLikesRooster.

Investors could revolt at a moment's notice against high government deficit levels, jeopardizing chances at a recovery and potentially sending interest rates soaring, former Federal Reserve Chairman Alan Greenspan told CNBC.

[blam]

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