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Economy most troubled since WWII: Greenspan
CNN Money via Yahoo ^ | 03/17/2008 | Unlisted

Posted on 03/17/2008 6:14:29 AM PDT by 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.

(Excerpt) Read more at biz.yahoo.com ...


TOPICS: Business/Economy
KEYWORDS: economy; greenspan; soros; stpatricksmassacre
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To: am452
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.

41 posted on 03/17/2008 6:59:50 AM PDT by Rodm (Seest thou a man diligent in his business? He shall stand before kings)
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To: expat_panama
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.

42 posted on 03/17/2008 7:01:33 AM PDT by Ann Archy (Abortion.....The Human Sacrifice to the god of Convenience.)
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To: zencat

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


43 posted on 03/17/2008 7:01:45 AM PDT by SueRae
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To: cvq3842

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.


44 posted on 03/17/2008 7:12:58 AM PDT by Marysecretary (.GOD IS STILL IN CONTROL)
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To: zencat

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


45 posted on 03/17/2008 7:18:21 AM PDT by goodnesswins (Being Challenged Builds Character; Being Coddled Destroys Character)
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To: expat_panama

“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


46 posted on 03/17/2008 7:18:21 AM PDT by buzzer
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To: Content Provider
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.
47 posted on 03/17/2008 7:44:37 AM PDT by aruanan
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To: 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!


48 posted on 03/17/2008 7:47:42 AM PDT by Content Provider
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To: raptor29
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.

49 posted on 03/17/2008 7:55:13 AM PDT by AndyJackson
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To: zencat

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.


50 posted on 03/17/2008 7:55:20 AM PDT by The Great RJ ("Mir we bleiwen wat mir sin" or "We want to remain what we are." ..Luxembourg motto)
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To: buzzer
"...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.

51 posted on 03/17/2008 8:00:25 AM PDT by expat_panama
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To: zencat
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.
52 posted on 03/17/2008 8:00:29 AM PDT by ncalburt
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To: 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!

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.
53 posted on 03/17/2008 8:16:35 AM PDT by aruanan
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To: zencat
Greenspan is rapidly joining the ranks of formerly prominent whiners against the history they created such as Carter and Clinton.
54 posted on 03/17/2008 8:38:13 AM PDT by HardStarboard (Take No Prisoners - We're Out Of Qurans)
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To: zencat

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


55 posted on 03/17/2008 8:48:26 AM PDT by Proud_USA_Republican (We're going to take things away from you on behalf of the common good. - Hillary Clinton)
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To: Mikey_1962
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".

56 posted on 03/18/2008 4:11:00 PM PDT by SteamShovel (Global Warming, the New Patriotism)
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