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Greenspan Speaks!

Today, before Congress, God, and everybody, our old buddy Alan Greenspan will be speaking about subprime lending, the debt crisis and the resulting recession. And more specifically, about his role in it. Greenspan, the Federal Res ...

Posted On October 23, 20083 MIN Read
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Today, before Congress, God, and everybody, our old buddy Alan Greenspan will be speaking about subprime lending, the debt crisis and the resulting recession. And more specifically, about his role in it. Greenspan, the Federal Reserve Chairman under Bush, Clinton, and then Bush II, is largely responsible for much of the mess we are in....of this, there is NO doubt.

Years ago, back in the early 1980's, Greenspan spoke and wrote often about the dangers of high debt levels, easy money, and of our fiat currency. He was also a big fan of placing the U.S. back on the gold standard. But something changed when he came FED Chairman...like looking at Bizzarro and Superman...a total and complete change in belief systems took place.

Make no mistake about it, Alan Greenspan will go down as the one of the major reasons the U.S. experienced its largest economic slowdown since the 1930's.

Yesterday the U.S. stock market was down over 6%, and is now very oversold and probably due for a short t...

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