Greenspan: "all the shocks and adjustments the future will surely bring"

[Bush_Eats_Beef]

UH-OH...Lord Commander Emperor Bunnypants II is NOT going to be happy when he gets back from Chile and Uncle Karl reads THIS one to him...

What the hell is WRONG with Greenspan? Did he FORGET that John Snow HIMSELF said just a few months back that "the economy is firing on all cylinders?"

(OK...sarcasm filter now off. here's the article)...

http://money.cnn.com/2004/11/19/news/economy/fed_greenspan/index.htm?cnn=yes

NEW YORK (CNN/Money) - Federal Reserve Chairman Alan Greenspan warned the U.S. must deal with the causes of the weak dollar -- the U.S. trade deficit and the federal budget deficit -- or the country could run into economic problems down the line.

Greenspan said that while history has shown that developed countries are not necessarily hurt by a weak currency, "we cannot become complacent. History is not an infallible guide to the future," he said in a speech delivered in Europe.

"More will need to be done in Europe as well as in the United States to ensure that our economies are sufficiently resilient to respond effectively to all the shocks and adjustments that the future will surely bring," he concluded.

Greenspan focused on the nation's current account deficit, the measure of both trade and investments across the national board, which he said has risen to more than 5 percent of gross domestic product, the broad measure of the nation's economy. "It seems persuasive that, given the size of the U.S. current account deficit, a diminished appetite for adding to dollar balances must occur at some point," he said.

[bluetrain]

1. .....can't wait.... nt

[The Backlash Cometh]

2. Fuck you Greenspan.

If you really cared about this country, you would have been outspoken BEFORE the election. Good luck reigning in your boy now.

[charlie]

7. Think he's bad now?

Imagine if a Democrat was set to take over the White House. He'd be a wailing Cassandra. He told Clinton to emphasize deficit reduction or suffer the fed's wrath. Yet, he's spent the last 4 years blessing every tax cut and saying the deficit is inconsequential. The asshole.

[The Backlash Cometh]

9. "Asshole" is too good a word for him.

[stray cat]

3. Somehow more tax cuts will cure the problem

just wait for the spin.

[glitch]

4. Thom Hartman is replaying his testimony right now, with Bernie Ward and

his own rebuttal. It's good. http://www.radiopower.org/

[mirandaod]

5. I guess Alan didn't get the memo.

Disloyalty to the President will not be tolerated. Come up with another version of the truth, or else.

[donsu]

6. isn't Greenspan mouthing after the cat is out of the bag?

Isn't he america's money man? doesn't everyone bow and scrape to him? doesn't the suits on wall street either piss their pants or get a hard on with his pronouncements?


what has made Greenspan pinprick smirk?

[2Design]

8. election is over and his term was extended to 2006 ???? and by then

he will retire to some other country in style