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100 thoughts on “Alan Greenspan: The fiscal system is out of whack”

  • I am starting to think that the only reason Maria is inviting this man on air is to wait (and hope) that he'll drop dead ON AIR while talking to Maria. (And that'd be a huge news of course.)

  • It appears the slaves are tired of working for $8 an hours let's be real 25 dollars is still not going to to fix the Elites spending problem. Did you ever finish a game of Monopoly? Guess what maybe we don't want to play. And He thinks social security is the problem.. death and taxes both knocking at his door.

  • Great point at the end. Tariffs are bad for the consumer. Who wants less choice and higher prices for products? I don't.

  • Greenspan is an old robot needs the update but doesn't have enough space in his brain.
    Start a Real infrastructure revolution and you will get a healthy growth.

  • If you'll listen carefully to what Mr. Bolshevik Greenspan is saying… in reality… is… Americans want cheap Chinese imports because that is all they can afford. He is also very carefully saying that socialism never worked… because start to finish… a nation cannot ever borrow its way out of debt… Social Security is bankrupt… and every day 10,000 new "baby boomers" are signing up for their promised social security benefits… which is saying that 10,000 Americans a day are leaving the work force and will no longer have their pay stolen from them… but at the same time, will begin to reap the benefits promised to them by the socialists who have been stealing their personal wealth … the USA was never structured to allow socialism to ruin productivity… the game is over.

  • Despite having attained an unprecedented level of deterioration, AG is spot-on: Our economy is hosed and we are screwed. Cheers!

  • You can't tell me with the tax cuts America can't gear up for manufacturing and traning the work force now would a good time to start-up a company the profits will come and grow the sky is not falling better to start now then wait you will be up and running when other's are just starting think positive the hell with all this negitiv bull crap

  • We are not only headed for a financial downturn, we are head for an international replay of 1928, a depression!

  • Greenspan understood sound economics before coming into his Fed position. He wrote an essay in the 60's touting gold. But once he got in there, he became myopic and kick-started this whole stimulus, Keynesian nonsense. My suspicion is he realized the errors of his way and in now attempting to distance himself.

  • I don’t know maybe the slow down is due to the masses don’t have money … too much cookies for the fat cat …

  • Stop welfare to illegal immigrants. Stop the social security money to grandparents who have adopted their grand children while the children's parents are still alive and probably drawing welfare themselves. Stop SSI to the frauds who say they cannot work. Stop the subsidies for people coming to this country who do not speak English and do not have skills to support themselves. Stop the politicians who have been at the hog trough for 20, 30, 40 years and are now billionaires because of their selling out the American people. Greenspan is part of the swamp, so is Ryan, McConnell, Mcain and the rest of the senior members of the RNC and the DNC. They are all

  • For grow people need money … between stagnation of wages and increases to medical … your check is done…no money

  • geeee…
    you're just figuring that now???
    Rumsfield had a press conference on sept 10, 2001 and announced that over 20 trillion dollars was missing from the U.S govt.
    WE all know what happened the very next day…
    all of the files and the dirty files on the clintons. And on other people were in building number 7.
    And all of the CIA employees were off that day in building 7.
    SKULL DUGGERY !
    the TRUTH will come out
    it always does.
    DANIEL 7:13

  • Sorry, Greenspan was not good, just o.k. at best. He totally failed to see the 2008 crash and don't understand Trump economy.

  • The funding for SST, WAS there, and was spent by the Looters. The interest on investment should have easily funded SST !!! The funds were spent on WARS for ISRAEL and welfare for the "new" legal and illegal immigrants. This Zionist looter has no business giving any advise the "what housing bubble ,there is no housing bubble" he is not a fool so the only conclusion is he deliberately mislead America!!!!!

  • Social security is not an entitlement, everybody has paid into the fund all their lives, even my 73 year old dad. The account was full of money, a surplus of cash in the late 80s because Congress was not legally allowed to touch that money. They changed the laws and spent, or borrowed according to them, all of our money. Congress stole the money and now attempting to act like it is a gift. It is not a gift or entitlement, it is the hole that is left after they robbed us of our future. I call BS on him and Congress because I am old enough to remember the truth.

  • no wonder why there is no gold in the banks. then blow the twins towers to covered so they could spend trillions of dollars and blame to war. stupid white men for being deceived by these arabs babylonians jews cabbalah.

  • So Greenspan acknowledges the Corporate Tax cuts are not funded and can only be funded by cutting Social Security benefits by 25%. It was a mistake to support Trump's tax cuts without the manner to cover the deficit so now the retired and retiring population will foot the bill. And the lower middle class and blue collar workers who voted Trump in got temporary tax cuts that will disappear in less than a decade. Are we done here Americans…at long last are we done!

  • Is he really alive? Or does someone have they're hand up his ass making him talk like a puppet

  • About September every left controlled company will do everything possible to make things look bad. This includes many government producers of numbers. Fight back!

  • The last people with decent pensions are aging out and cashing in.. they were paid well for decades of work but those jobs don't exist anymore because of cutbacks or no trained employees available 4 minimum wage with no benefits 30 hours a week. Shouldn't blame the poor who qualify 4 benefits and work or care for dependents.. no good school no living wage makes us a country that scrapes by

  • If companies try to weasel around hiring and producing, remove tax breaks to individual companies. They're taking their golden parachutes right now, and that hit is for immediately before the elections.

  • Moving in to kill the people now… Cut SS and watch what is left of America die. Fake jobs fake economy, pay the debt, and don't forget to kill the people.

  • THIS REVOLTING OLD DEEP-STATE CREEP IS THE HUSBAND OF ANDREA MITCHELL WHO WORKS FOR ABC – A DISGUSTING, RUDE DEEP-STATE BITCH

  • Greenspan advised senior members of the George W. Bush administration to depose Saddam Hussein for the sake of the oil markets.[37] He believed that even a moderate disruption to the flow of oil could translate into high oil prices[38] which could lead to "chaos" in the global economy and bring the industrial world "to its knees".[39] He feared that Saddam could seize control of the Straits of Hormuz and restrict the transport of oil through them. In a 2007 interview, he said, "people do not realize in this country, for example, how tenuous our ties to international energy are. That is, we on a daily basis require continuous flow. If that flow is shut off, it causes catastrophic effects in the industrial world. And it’s that which made him [Saddam] far more important to get out than bin Laden."[40]

  • LOL. He has NO credibility. He presided over the Great Recession. He agrees "wholeheartedly" with the corporate tax cuts, but wants to cut Social Security NOW AND INDEFINITELY by 25%! What a clown.

  • Anybody who thought that Trump was the solution to economic crisis is stupid. Any previous administrations policy's take a year to phase out, while the next administrations start to take effect. Guess what retards anything that happens now is clearly Trumps fault. So when the economy and the stock exchange tanks you have that idiot in office to blame

  • Obama but us here and son Bush
    President Trump has to clean up the past 12 years like Trump said he was left a Mess to clean up
    Our hole government has benn turn up side down what a Shame

  • Greenspan is an enemy of the American people and aught to be arrested……on another note inflation is the result of paper money with nothing to back it….when I was a kid, silver was still in the coin and it only cost a quarter to get into the movies where you got to watch two movies and a couple of cartoons while Holly Wood movie stars became millionaires…today it cost my wife and I 18 fed notes to watch one movie…….$10 for a large popcorn instead of 10 cents…that's 1000% inflation !!!!!

  • Ask the 100 yr old? Really?
    Pelosi is a geriatric calling money crumbs….
    THEY speak of their breakfast not our economy

  • It is obvious that the tax cut when the economy was doing so well is going to hurt the economy. Cutting taxes just will make the deficient grow. Republican's always ruin the economy. The companies that got these huge tax breaks are just buying back there stocks and not investing in their workers.

  • This deep state bastard is full of she-hiet. They have been wrong on everything so anyone trust them now?

  • ….down the road…when ia THAT? Long after Trump for sure. Alan does not know what decade he is in?? LOL

  • I don't see any theft of technology by China. They are smart enough to create their own internet (not patented by USA). Besides they have contracts with western farms to produce their products and improvise upon them, benefiting the west.

  • Productive millennials? We don't need them. We have productive Mexicans working 3 jobs for shit wages with no benefits and they don't complain. We need more of them. It's what keeps Texas strong.

  • YOU OLD SWAMP FART, WHO CARES ABOUT WHAT YOU STRUGGLE TO SAY..TAKE YOUR ILL GOTTEN MONEY AND GO

  • Alan your mother would be very disappointed in you knowing how many people you have harmed in your life. How many millions? That's how you will be remembered when you lie in your grave; the chief of an organization crafted in secrecy and run in the shadows. For shame Alan, forever more. For as long as mankind keeps records. Shame on you.

  • How let this crooked person out the special home. the person who let the bale out happen deep state junkie

  • Ben Bernanke told Maria something similar some years back on CNBC. She asked about a nationwide decrease in housing prices and at that time Mr. Bernanke said, "Well, I guess I don't buy your premise." History might not repeat, but it rhythms.

  • Allen Greenspan telling you The fiscal system is out of whack is like a burglar telling telling you your house was just robbed.

  • She is putting the story in his mouth, why give him the counts, he doesn't know? Cheap labor is killing the markets, stop giving immigrants our SS, period, all you fukes go to work!

  • The Fed better not go fuck up Trump's economy because he won't kiss their Ass and be their Puppet. I guarantee he's already out smarter you. And besides we are not stupid. Every Paycheck we received you took out for our retirement. You spent our money on Wars in Iraq and Afghanistan and then over funded NATO, and the U.N. Now you say sorry we don't have your retirement money. If you cant give it back,you shouldn't have taken it. You was taken a loan from us,so don't even try it.

  • its called trump economics, or typical conservative effect. After-all when the conservatives get into power the economy suffers, always. FACT!

  • This is all lies. The United States debt to foreigners is not 8 trillion – it is actually 39 trillion. Check out the BIS (Bank for International Settlement) website and navigate to the "Debt Securities Statistics" section. According to table C3, the U.S. debt securities outstanding is 38.9 trillion as of Q3 2017. All of our of tax dollars go to the Fed for interest payments. Our debt is like mortgage never-ending mortgage payment to the bankers, our salary (GDP) can barely afford the interest.

  • Maria, "what is causing the slow down?" Real Answer: Centrally planned economies run by a Communist Central Banking Dictatorship simply don't work. We need to restore the once free market and allow all asset prices reset to fair value, house, stocks, etc. Let the free market set the price of money/interest rates.

  • americans dont want to buy cheap chinese goods. They want a good job, so they have enough food on the table, and their kids can go to college! Greensspans view of the world is a scynical one. It comes from having too much and not knowing anything about real live any more. Plus he is so old that he should think about getting a nice retirement home, and not trying to hold onto power. The guy wouldnt get a driverslicence cause he is too old, let alone give financiel advice.

  • I kept hearing the entitlement word! Do any of you know what he is talking about? And yes, I know the answer, So pretend this is Jeopardy and give it your best shot…Anyone?

  • MARC STEINER: So where does the money come from, then, to invest in infrastructure, in new businesses, and whatever else has to be invested in?
    MICHAEL HUDSON: Well, banks don’t invest. That’s a myth. The pretense is that rescuing the banks rescued the economy. But the banks don’t make loans to the economy. Banks don’t make loans to fund factories. They don’t make loans for infrastructure. They make loans to buy assets already in place. They’re privatizing the structure to take it private, raise the rates the people have to pay for services.

    Essentially they lend to raiders taking over corporations. They won’t help a corporation put in more equipment and hire more people, but they’ll lend to a raider to break up a corporation, downsize the labor force, smash it up and leave it a bankrupt shell. That’s the financial management plan. That’s what they teach in business schools.

    So the financial management philosophy that we have is diametrically opposed to what’s needed for economic growth. That should be what people are talking about, because more and more economists are warning that given the rising debt ratios, there’s going to be another crisis. What we should be talking about when we look back on the anniversary of Lehman’s bankruptcy is how to handle the next crisis in a way that doesn’t bail out banks, that bails out the economy by writing down the debts.

    If banks have bad debts, they’ve made bad loans. Banks used to be conservative and prudent. But if they make imprudent loans and they say, we don’t care the borrower can’t pay because we’ve sold the whole loan off to a pension fund or a German Landesbank, and somebody else is going to take the loss, you have to restructure the banking system and the financial management, and take it out of the hands of bankers to manage.

    If you leave the Treasury Department and the Justice Department and the bank regulators in the hands of bankers, they’re going to loot the rest of the economy. They’re going to take everything they can. So you want someone who’s not a banker to actually do the regulation.

  • "Government exists to spend. The purpose of government is to serve the general welfare of the citizens, not just the military-industrial complex and the financial class. Didn’t we have a stimulus, oh, eight years ago? It was tiny and has not been entirely spent. As Yellen implied, we need more spending of the non-military kind (what Barney Frank memorably called “weaponized Keynesianism” doesn’t stimulate)."

    https://www.forbes.com/sites/leesheppard/2016/04/02/we-need-fiscal-policy/?fbclid=IwAR02l1AlZGMpapbTOdURjgRknx6Kai-24Z6fXBCXyBolgdgodvjSmYmXAdw#1c4e7dea8b40

  • "The federal government creates ex nihilo [out of thin air] all the dollars that it chooses to spend into the economy in any given year. Federal taxation functions as a control on inflation and aggregate demand, and is entirely unrelated to spending.

    In fact, since taxation does not give the federal government anything it cannot already create, there is no real sense in which dollars collected by the federal government can be spent again. There are no tax dollars flying in and out of giant tubes in the Treasury Department!!

    Federal taxation is merely a digital transaction that deletes dollar balances in private bank accounts, and federal spending is merely a digital transaction that adds dollar balances to private bank accounts.

    When we send tax money to the government, nowadays usually as a wire, the dollars that existed only as numbers in a checking account are functionally destroyed. They are no longer part of the monetary base, because the Treasury’s General Account at the Fed is isolated from the monetary base (unlike the accounts of all state and local governments and the entire private sector).

    US dollars can only exist in bank accounts outside the Treasury, so when the Treasury spends, the monetary base increases, and when it taxes, the monetary base decreases. Only the US Treasury (and Fed, for distinct reasons) can affect the monetary base in this way. As the sole issuer of US dollars, the US federal government does not and cannot “use” or even “save” dollars that only it can create."

    http://mikenormaneconomics.blogspot.com/2014/02/hey-democrats-please-stop-talking-about.html

  • It is striking that Fox news is pulling up the music while Dr. Greenspan indicates where the government is making a huge mistake : "Americans want to buy cheap Chinese goods, and what the tariffs would do is make them more expensive"

  • What? Oh for a second I thought he was a Ferengi from Deep Space 9. Stagflation sounds like another way to screw people out of money. Good job.

  • Simple question from Maria Bartiroma: "…What is causing things to slow down?". Greenspan answers by putting the onus of the problem on social security. He then states that social security needs to be cut. Unbelievable!!! Greenspan didn't care and doesn't care about the American people. Yet America continues to allow economist people like him at the Federal Reserve to dictate U.S. fiscal policy. The middle class will be eviscerated durring the next recession thanks to callous people like Alan Greenspan. 😳

  • The central banks are wrong because they allowed the politicians to be idiots giving the people more than they can pay for. Instead of making people deal with this they just papered it over until the problem is so big it can’t be fixed.

  • There's plenty of funding for the entitlements promised to the working people of this world Mr. Greenspan…..They are sitting in all the offshore accounts sir.