Greenspan Bankrupting the Treasury: Mike Whitney

[teryang]

http://www.counterpunch.org/whitney09132004.html

September 13, 2004

Fed-Master to the Wealthy
The Austere Mr. Greenspan
By MIKE WHTNEY

<snip>No one has taken on the task of bankrupting the US Treasury with greater zeal than Alan Greenspan. The wizened Fed-master has taken burgeoning budget surpluses and turned them into massive debt in less than four years. <snip>

<The Federal Reserve works hand-in-hand with the Washington policy-czars, keeping interest rates low when there are wars to be fought and ratcheting them up "sky-high" when anyone breathes a word about national health insurance.

Greenspan's collusive relationship with the Bush Administration has left the country teetering on brink of insolvency. This provides the perfect opportunity to take the carving knife to the many social programs that Americans have come to depend on. <snip>

<... the Fed-chief is attacking Social Security, the bane of conservatives who despise the notion that government should be involved in a national retirement program. Actually, it is nothing more than a safety net, sheltering the elderly from a future of abject destitution. Republicans traditionally prefer the Darwinian model that allows some to prosper through private investment while others look for a soft spot under a highway off-ramp.>

[stray cat]

1. Greenspan works for Bush. Bush has bankrupted America

nt

[pretzel4gore]

2. i recall greenspan saying (mentioned by andy rooney)

that high unemployment rates were benefitial to the stock market and low wages were vital to prosperity.....the guy's a class warrior and always has been. how he gets away with it (and with a mediawhore wife too) is mind boggling! this was all true long before geebush came along....

[indepat]

3. Either Greenspan's name will forever live in infamy or I just don't

understand anything.