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Sunday, December 30, 2012

Mr. Incompetent Himself-Alan Greenspan Is The Heart Of The Fix The Debt Jihad

Whaddya Know? Professional Economy Wrecker Alan Greenspan Is at the Heart of the Insidious 'Fix the Debt Campaign, by Dean Baker,

Alan Greenspan will go down in history as the person who has done more damage to the U.S. economy and society that anyone who was not a foreign enemy. In fact the destruction he wreaked through his incompetence would also exceed the damage caused by almost all would-be enemies as well.
Greenspan accomplished the remarkable feat as Fed chair of ignoring the growth of the $8 trillion housing bubble. This bubble could not have been easier to see if it had been 500 feet high and lit up with huge neon signs saying "Huge Housing Bubble." But Greenspan insisted the bubble was not there.
And Greenspan somehow didn't recognize that the collapse of this massive bubble would devastate the economy....
If we had a political debate that was driven by evidence, where the accuracy of one's past judgements played any role in the credibility granted their current opinion, then Greenspan would be relegated to the role of ranting fool. His opinions on the economy would be given slightly less credibility than the mumblings of a street drunk...

"The Campaign to Fix the Debt started to come together at a salon dinner held in the backyard of Senator Mark Warner, Democrat of Virginia, in the fall of 2011. An influential group of economic, political and business leaders — including the former Federal Reserve chairman Alan Greenspan and Mark Bertolini, the chief executive of the Aetna insurance company — huddled in a too-small tent in the pouring rain."

Click the link to read the complete article.
These predators, or I should say sociopaths, really want to convert the United States into a total kleptocracy ruled by the corporate royalists who feed their underlings consulting fees and duty-free jobs after doing their corporate bidding while serving in government or in mindless think tanks funded by the corporate royalists.
The latest to receive a duty-free job is PA Congressman Jason Altmire, who now has a job with Florida Blue, since his Blue Dog role in the Congress was ousted by a Teabagging nutbag from his district. The revolving door of do-nothing jobs with benefits continues.
Their desires are to keep wages and salaries low or stagnated, jobs at a premium, and the consumer indebted to them via credit cards, and mortgages.
When will the working class voters wake up to their manipulation by the GOPsychopathetics they elect?