[MittFan08]

“Consumer Demand will never be as high as it was before with the world bankrolling American spending with financial derivatives and creating invisible money with credit default swaps.”

It wasn’t just the world- credit cards and mortgage lenders would give money to anyone with a pulse. With Greenspan throwing gas on the fire all along with his cheap money. The recent US economic model of exporting debt while importing actual goods is unsustainable. At some point, even China is going to get tired of buying our Treasury bonds that they know are going to be paid back with cheap dollars.

[bruinbirdman]

"With Greenspan throwing gas on the fire all along with his cheap money. "

Did anyone see Greenspan in front of Congress today say his "worldview of 40 years" has changed? That he was wrong?

yitbos

[bruinbirdman]

"At some point, even China is going to get tired of buying our Treasury bonds that they know are going to be paid back with cheap dollars."

They are going to be paid back with greenbacks pegged to the yawn. Or is that vice versa? The commies are stuck. Eventually, the dollar has to be spent in America.

yitbos

[familyop]

"With Greenspan throwing gas on the fire all along with his cheap money. The recent US economic model of exporting debt while importing actual goods is unsustainable."

We shouldn't be terribly surprised, and you are correct. The import paradigm using communist/fascist slavery is unsustainable.

[Ayn] Rand's Influence on Alan Greenspan