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NVMojo Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-12-05 07:17 PM
Original message
Greenspan: Flexibility Critical to Economy
Guess he has to distract for his wife's big mouth outing Powell as a CIA-LEAKER!! HAHA!!!

October 12, 2005

WASHINGTON (AP) -

The country's ability to weather a surge in energy prices is the latest example of how economic flexibility helps prevent serious recessions, Federal Reserve Chairman Alan Greenspan said Wednesday.

Greenspan said an environment of maximum competition has been the driving force in spurring the type of flexibility that has allowed the country to withstand a number of shocks over the past two decades with only two mild recessions.

"The impressive performance of the U.S. economy over the past couple of decades, despite shocks that in the past would have produced marked economic contractions, offers the clearest evidence of the benefits of increased market flexibility," Greenspan said in remarks to the National Italian American Foundation.

more...

http://www.lasvegassun.com/sunbin/stories/invest-corp/2005/oct/12/101209773.html
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acmejack Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-12-05 07:23 PM
Response to Original message
1. May I suggest "Greenspan's Fraud" by Ravi Batra.
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BootinUp Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-12-05 07:27 PM
Response to Original message
2. Let me paraphrase
Edited on Wed Oct-12-05 07:31 PM by Jim4Wes
Some days trickle more than others, stop your whinin!
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MichiganVote Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-12-05 07:58 PM
Response to Original message
3. Limp Noodle Economics, sponsored by Bush & Co.
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fed-up Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-12-05 08:04 PM
Response to Original message
4. or How far can we bend over??? n/t
Edited on Wed Oct-12-05 08:04 PM by fed-up
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area51 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-12-05 08:35 PM
Response to Original message
5. Flexibility?
You want flexibility, Greenspin? How about we offshore your fscking ass!
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Porcupine Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-13-05 01:02 AM
Response to Original message
6. Didn't we just crank up the printer and go bankrupt faster?
Somebody tell me otherwise if it's true but the American economy now consists of us borrowing money from the Chinese in order to buy things made in China. To justify our borrowing we all go around and tell each other that our houses are worth $2K more each month.

That's not flexibility. That's selling a kidney to spend a little more time at the craps table as the building burns.
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The_Casual_Observer Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-13-05 01:57 AM
Response to Original message
7. Tell that to all the people getting laid off at Delphi.
Flexibility my ass. That bastard has never worked a day in his life.
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MADem Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-13-05 05:08 AM
Response to Original message
8. Flexibility--this, from a guy who has such a horrible back that he has to
spend an hour or more in a hot bathtub just to be flexible enough to put on his clothes...
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salin Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-13-05 05:12 AM
Response to Original message
9. suck it up and be flexible or the resulting bad economy is your fault
says Greenspan to the people. Setting the stage for W to use a new scapegoat for how awful his policies have been... the American people. Just not flexible enough to take huge gas and energy hikes (and even more huge for the few heavily invested in those companies) - and thus as we hit the skids into the second bushjr recession - it will be OUR fault. :yawn:
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acmavm Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-13-05 05:42 AM
Response to Original message
10. Carefully read what this old f**kwit is saying. Nothing! He is saying
not one damn thing that makes any sense and is of any value to anyone here in the real world. The guys skated on lies, hype, bullshit, for decades. He's useless.

Go away old man.
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Jose Diablo Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-13-05 06:54 AM
Response to Original message
11. I've heard the word flexible before
Edited on Thu Oct-13-05 07:09 AM by Jose Diablo
I think it was from the IMF notes that bounced from the back of a limo at Palasts feet. This was when the IMF was meeting someplace, London I think. It was from Greg Palast's book, "Best Democracy Money Can Buy". A good read.

But the IMF notes refereed to flexibility in workers benefits and pay. It's part of Friedman's Golden Straight Jacket. The tighter you fit it, the more gold it produces. Been tried out all over the world and it does produce great wealth, but not for the workers. The wealthy get most of the wealth as it is the workers benefits and pay that is diverted to the privateers. The agents of the government get a lot of wealth too. For them, they get numbered Swiss accounts and bribes of billions are placed into those accounts when the agents of the government allow the privateers to 'buy' the common assets of the country, like water, telephone, roads, stuff like that.

One point of the IMF notes also had to do with workers pensions. Anybody else notice the spate of bankruptcies in large corporations with large worker pensions and how the Federal Judge in Chicago thinks it's OK for companies to use those pensions to pay the bills? These high fuel costs are part of a IMF plan, to bust the workers. Free market controls prices my ass, it's manipulated.

Greenspan should not be allowed to exit gracefully, he should go to jail just like the rest of them. He has been stealing our wealth for 20 years now. He is like one of those carnival con men, with the shells and pea, saying guess which shell has the pea as he shuffles and manipulates the value of our money, to steal our wealth that WE have made.

Why do you think the founders of our government placed an item in our constitution that states ONLY congress shall print money. Economic wellbeing is at the heart of liberty and freedom. If the people cannot control the money supply, through their elected representatives, then the bankers can steal it all, by manipulating the value of money. All this stuff is old hat, why is anybody surprised at what is happening?

Our parents screwed-up. When FDR allowed those peckerhead wealthy Republicans off the hook for causing the last depression and made a compromise that allowed the ones that cause that calamity to continue living, but only under tight regulation, our parents should have said no. They should have taken those greedy bastards and lined them up against a wall. Because all they did is sit back and wait for a later date to start the same BS.

Edit to add: Capitalism's boom and bust cycles are not something that just mysteriously happens, with nobody understanding what causes it. Those boom and bust cycles are caused by the supply of money. Historically, this was the way bankers and other shysters, like kings, to steal workers accumalated profit, to keep the workers poor. Our founders were smart and knew what these crooks were doing and had been doing for centuries before.
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Orrin_73 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-13-05 08:03 AM
Response to Original message
12. Flexibility also means that companies can layoff
workers very very fast.
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hatrack Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-13-05 08:11 AM
Response to Original message
13. "Weather a surge in energy prices"? It hasn't even gotten COLD yet!!!
Edited on Thu Oct-13-05 08:12 AM by hatrack
What is this BS? The surge in energy prices is just getting going!

I guess it's always springtime if you live in Cloud-Cuckoo Greenspan Land. :eyes:
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gratuitous Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-13-05 08:17 AM
Response to Original message
14. Flexibility is nice
A middle class doesn't hurt, either. Moving a miniscule percentage of middle class folks to the upper classes while impoverishing a majority of them isn't a recipe for a healthy economy.
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HughBeaumont Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-13-05 08:41 AM
Response to Original message
15. The only one who's expected to be "flexible" in Greenscam's world
is the middle/working classes. After all, it is US that's getting Kama Sutra'd by the corporations and the administration he shills for.
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