Economy most troubled since WWII: Greenspan

CNN Money via Yahoo ^ | 03/17/2008 | Unlisted

[zencat]

Today's economic condition could likely be seen as "the most wrenching since the end of the second world war," wrote former Federal Reserve chairman Alan Greenspan in the Financial Times on Monday.

[Rodm]

1. Congress has continued on it's careless spending spree. If congress would balance the budget the dollar would strengthen

2.Congress has continued to block drilling on ANWAR. If congress announced they would let oil companies start drilling tomorrow, oil price would plunge $50 a barrel and we would pull out this mess. When energy prices increase three fold in a short period of time the whole economy is going to slow way down.

[Ann Archy]

The current 4.8% unemployment, 0% inflation, rising productivity and exports, --all this is far worse than Carter's double digit unemployment/interest/inflation. Right. This is not news, it's Greenspan's campaigning for Democrats. Again. 18

Didn't this all happen under Bush senior when Greenspan wanted the FIRST CLINTON in office????

Well, now funny how it repeats itself for the SECOND CLINTON to be President....create CHAOS in the MARKET to destroy a Bush....same old....same old.

[SueRae]

Greenspan helped bring this about. He needs to step aside and shut up for a change.

[Marysecretary]

the more the media tells us the economy is bad, the more people believe it. I call them self fullfilling prophecies. People should just shut up and let the economy ride. It always has and always will have its ups and downs. I’m not worried.

[goodnesswins]

Greenspan....go get back in your bathtub.

[buzzer]

“The current 4.8% unemployment, 0% inflation, rising productivity and exports, —all this is far worse than Carter’s double digit unemployment/interest/inflation.”

The problem with inflation measuerment is how you’re measure it. The current administration changed a lot of economic measures, also the measure for inflation (CPI). Today it’s measured without the basd stuff like energy and food and called “core-inflation”. The only thing that counts on inflation measurement is the china crap you can buy at wal-mart. Also the M3 (Overall money supply) measurement was discontinued because it looked bad (hight inflation tendencies). Officialy it was dissmissed because of “It costs too much to measure it and we don’t mess with the dollar so we won’t need to know”.

http://www.federalreserve.gov/Releases/h6/discm3.htm

[aruanan]

Probably very little, considering we never ratified Kyoto. The ethanol insanity, however, probably has a measurable share of the culpability.

Ratifying Kyoto would only have been an after the fact matter. The damage has already been done because a lot of other nations did ratify Kyoto and had already been trying to comply with some of the demands. There was a lot of trading of carbon credits and shifting resources and plans around in order to appear to be "green". None of these things was necessary in any real business or scientific sense and just added extra layers to planning and bureaucracy.

[Content Provider]

Nah, nobody ever took the Kyoto stuff seriously, not even those who were pimping it. It turns out that the nations that signed the thing actually increased their “greenhouse gas” emissions more than those who didn’t sign it!

[AndyJackson]

and there was no genuine quantum leap in productivity behind the leap

It is even worse. Our trade deficit widened because or production did not keep up with our consumption. We imported more and more from abroad, swapping greenbacks for wine, cheese, ferraris, and norwegian moose meat.

The counterparties to those trades must feel a bit sick now, sort of like someone who thought he was rich only to discover that the matress is the attic was stuffed with Confederate dollars.

[The Great RJ]

Of course the sure “cure” for these economic ills would be to increases both taxes and government spending as is being suggested by both Congressional Democrats as well as Hillary and Obama. The result of such a strategy would be to return to the economic malaise of the Carter administration with double digit inflation, high unemployment and recession.

[expat_panama]

"...problem with inflation measuerment is how you’re measure it. The current administration changed a lot..."

If anyone's got a better way to figure it then they can go ahead and share.  No one does because I'm talking hard prices and people's feeelings just don't cut it.  Only in Greenspan's insane delusions are we worse now than how we were with the double digit inflation we had with the Carter economy.

[ncalburt]

Is Greenspan being misquoted again?
The AP and Reuters have misquoted him twice and the Left wing media ran with it for days and then issued quiet retractions weeks later.

[aruanan]

Nah, nobody ever took the Kyoto stuff seriously, not even those who were pimping it. It turns out that the nations that signed the thing actually increased their “greenhouse gas” emissions more than those who didn’t sign it!

This is true, but it's still the case that a lot of effort and expense was wasted on having to deal with it, even if they thought they were doing something to their advantage.

[HardStarboard]

Greenspan is rapidly joining the ranks of formerly prominent whiners against the history they created such as Carter and Clinton.

[Proud_USA_Republican]

Greenspan obviously needs to find a full-time JOB. He’s got too much time on his hands with that moonbat wife of his.

[SteamShovel]

Worse than 1982?

1982-12-01 Unemployment Rate: 10.8%

That's like when the Clintons and Perot were saying the 1990 economy was the "worst economy in 50 years".