Greenspan Says "No New Stimulus" & Issues 'Warning' On The Debt
Another example of ABC News limiting their video audience. Here we have this amazing content -- an outstanding 10-minute interview with Alan Greenspan from October 4 on ABC's This Week With Stephanopolous, and no one on the net has seen it---not even 500 views.
Greenspan proves he's not a Krugman-Keynesian, calling for no new stimulus and a wait-and-see approach to the nascent recovery. He issued his harshest words for the out-of-control debt and deficit numbers saying we are nearing the Def-Con 5 level for Treasury's capacity to fund our grand debt experiment.
- 21 straight months of job losses, the longest stretch in 70 years.
- 6 Americans for every 1 job opening...7 million jobs gone since Dec 2007.
- We are on track for almost 3% growth in the fourth quarter.
- We will penetrate the 10% unemployment barrier and stay there for a while.
- "NO NEW STIMULUS!" No new stimulus because only 40% of the first stimulus has been used, and there is a lot of debate in the economics community as to just how effective this is (tell me about it!)...stimulus still has 60% left to go.
- "If you try to do too much to help the recovery, you can actually be counterproductive."
- "This is what a recovery looks like."
- "Medicare is only 50% funded."
- "...quite concerned about the debt and deficit levels and projections for future levels. The national debt cushion we have kept for generations is being threatened."
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Thank you!
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See other non-embeddable ABC News Content:
Geithner With Stephanopolous Aug. 2
Greenspan With Stephanopolous Aug. 2
Geithner With Diane Sawyer Sep. 15
Oct 16, 2009 at 2:58 PM
Reader Comments (41)
Lloyds, 43% owned by the taxpayer, is seeking £25bn of extra capital so it can escape the multibillion-pound cost of the government's toxic asset insurance scheme. Selling new shares worth up to £5bn to the Treasury is part of the complex plan currently being considered by the regulators.
Credit Card with a 79.9% APR...
Banks are getting away with murder...bring on Elizabeth Warren...this needs to be stopped...
The Bank Everyone Loves to Hate
Goldman Sachs's CEO says the firm got no special treatment during the bailout—and he intends to pay bonuses this year.
Henry Blodget and Clusterstock put up one of my stories today on their site as a guest post...actaully they've made me a contributor so there will be posts there about once per week...
small victories...a larger goal...
* 6 Americans for every 1 job opening...7 million jobs gone since Dec 2007.
* We are on track for almost 3% growth in the fourth quarter.
* We will penetrate the 10% unemployment barrier and stay there for a while."
That can't be right, it only started Jan. 20, 2009, (sarcasm emphasized).
When does the taxpayer benefit from all the companies we bought?
"7 million jobs gone since Dec 2007."
What about all the other jobs, going back years before that, when the politicians buried their collective faces firmly in the laps of business while China mounted them from the rear, spouting globalism goo.
All trade agreements have always benefited others...One fast food restaurant built, does not replace a factory's taxable wages or skills.
Also Congrats on the clusterstock spot, good job.
This guy should be too embarassed and ashamed to show his mug.
Where did all the money go, Wall street and the banks, who are the banks and Wall street. They are the Republicans. O’Bama gave all the money to the Republicans at the top. All of it. Now he dances the nights away at his bi-weekly fiestas in the Rose Garden while middle America disintegrates.
Im fed up with this extreme immoral greed from the elites and plutocrats running our system. From GS and the banks stealing $700B of taxpayer money meanwhile running a ten % unemployment, outsourcing of jobs and more. No regulations in the financial sector is insane.
To a epidemic of diabetes in America due to slave food fastfood on every corner making Americans sick and overweight. What choice do they have? MCD, Taco Bell, pizza chains, fried chicken chains, chinese food chains, sub sandwhich chains--they are all unhealthy.
Then the so called "health insurance industry" turns down my fellow Americans for so called preexisting conditions so Americans cant even get health care. Lobbyists spend millions and billions to make sure average Americans cant get health care and are gouged on credit cards anf the like.
Lastly I saw Michael Moore's Capitalism and it pains me greatly to seee in the corporations own writing they look at my fellow Americans as peasants.
Enough is enough this is what revolutions are made of.
My Commander in Chief is KAPTUR
This guy should be too embarassed and ashamed to show his mug."
I never would have thought I would have found a unicorn in Gobias. I have never voted for anyone that has won except once.
http://writ.news.findlaw.com/dean/20071004.html
http://en.wikipedia.org/wiki/Jim_Rogers_%28politician%29
Smash the two/ one party system.
Our new SEC COO, enforcement division, God help us. Good Ratigan clip, too.
Goldman Sachs, Adam Storch, and the SEC, is there no end to the gall and travesty?
http://www.youtube.com/watch?v=0VWkghFkofE
GS Video of Tax Money SCAM post Link on all forums
Please post this link on all stock forums, Goldman Sachs must be exposed for the crooks they are. The American People have a right to know where there money went and in what pockets, 17 Billion in Bonuses and they only paid 4 million in Taxes.
Share this link on all boards, friends and tell them to pass it along.
http://www.metatube.com/en/videos/22863/Goldman-Sachs-Bonus-Scandal/
Glad I saw this shit after a long weekend. This is fucking ridiculous... It's not just that the government is corrupt, its that it goes out of its way to be corrupt.
Puke.
Six Charged in Vast Insider-Trading Ring (10/17)
http://online.wsj.com/article/SB125570373292090093.html?mod=WSJ_hps_LEFTWhatsNews
--- reported as the first time a wire tap was used on an insider trading investigation. From the complaint:
“I swear to you in front of God … You put me in jail if you talk.”
– defendant Danielle Chiesi to an unnamed alleged co-conspirator
“I don’t like talking over cell phone on this.”
– defendant Rajiv Goel to defendant Raj Rajaratnam
“I’m dead if this leaks. I really am … And my career is over. I’ll be like Martha f—ing Stewart.”
– defendant Danielle Chiesi to an unnamed alleged co-conspirator
and you thought m&a were done legally... psht!
Capital is NO LONGER flowing to the US, in fact it is FLEEING, because the terrorists in Washington are DESTROYING capitalism, just like Lenin, Hitler, Mao and Stalin and their socialist supporters did in their respective countries,and it has now come to AMERICA.
This is a great big vote of NO CONFIDENCE in US political leadership by INTERNATIONAL investors. They are voting with their feet and capital is taking a ticket “out of town”; the destination: emerging markets and countries with the rule of law and private property still intact such as Canada, New Zealand, Australia, Switzerland, etc. These deficits can only be filled by BIG BANKS loaning to the treasury rather than MAIN STREET.
The demise of the United States and the G7 has been unfolding for YEARS.The financial crisis has accelerated the unfolding financial and economic holocausts. As the policies of Capital Hill and G7 public serpents are implemented, the deeper the crisis will become. Socialism does not work because public serpents DO NOT KNOW how to allocate capital to its best use. In fact, they allocate it to where it does the least but pays them and their cronies the most. Absolute power corrupts absolutely and the blind socialist ideologues currently in power will RAM MOST of these things through, knowing full well that once passed into law they will NEVER be repealed as the other side of the aisle is as power hungry as they are.
Nothing will change the course of events until the final debacle, in which they will either once again embrace free markets and capitalism where more is produced than consumed and create wealth, or they will continue to impose socialism and the welfare state in the G7. This is not a failure of capitalism, it is a failure of socialisim and welfare-ism – which they pass off as capitalism to the poorly informed. Until then, you can expect contracting economies, lower incomes, misery spread widely and high inflation, as the printing press substitutes for income.
http://www.emergingtrendsreport.com/product/19.aspx
Search this youtube video folks now and watch.Make it Viral please now:
SEARCH THIS: Kaptur calls Pelosi, Paulson CRIMINALS!!!
Revolution unleashed , join in with revolt action Fellow Americans:
Cash Every Check, carry cash, pay with cash, strangle the Banker Crooks: Our own Bail out has begun.
Best Advice For All True Americans!!!
Stop paying ALL credit cards and stop using ALL ATM cards. Every time you swipe an ATM card the banks get a fee. Pay everything in cash, invest in real tangible private assets like gold send silver, and UNPLUG from the f*cking matrix!!!!!
((( The trends in gold, crude oil and yields on the 10 year Treasury, is moving into the extreme inflation zone, and this should be a headwind for equities. )))
I'm currently re-reading The Road to Serfdom: The Definitive Edition by Frederic Hayek (its the same as the original, with added documents and letters compiled by Bruce Caldwell), and its amazing how history repeats itself-- amazing and embarrassing...
The latest NBC/Wall Street Journal national poll results vividly show a population incredibly dissatisfied with their nation’s political system. In other countries in other times such a depressing level of confidence in government would send a signal to those running the government that a major upheaval is imminent. But not here in the USA. Why?
So what do Americans have – other than a terribly bleak future? Where is hope in our dismal world?
In a bizarre twist of history that further illustrates just how impotent Americans have become, virtually all citizens are either unaware of or unreceptive to the ultimate escape route that the Framers of our Constitution gave us. They anticipated that Americans could become quite dissatisfied with the federal government. They feared that the political system could become incredibly corrupted by moneyed interests. They were right.
So here we sit over 200 years after our nation was created unwilling to use what is explicitly given to us in Article V of the Constitution – the option to have a convention outside the control of Congress, the President and the Supreme Court to make proposals for constitutional amendments. Do we really believe in the rule of law? If so, then we should understand that the supreme law of the land – what is in our Constitution – is the ultimate way to obtain the deep political and government reforms to restore true democracy and economic fairness to our society.
Make no mistake: an Article V convention has been stubbornly opposed by virtually all groups with political and economic power. This is most evidenced by the blatant refusal of Congress to obey the Constitution and give us an Article V convention, even though the single explicit requirement for a convention has been met. This fact alone should tell rational people that they are being screwed and oppressed. The rule of law is trumped by the rule of delusion. Our lawmakers are lawbreakers.
Come learn more about the effort to get an Article V convention at www.foavc.org and become a member. Do not keep witnessing the unraveling of American society, voting for lesser evil candidates, and believing the propaganda that putting different Democrats or Republicans in office will actually improve things for most of us. Choose peaceful rebellion by using what our Constitution gives us. Fight self-delusion.
http://www.foavc.org/
He's NOT Kenyan (by birth), but what do you think he's hiding? It's either something embarassing OR his handlers have figured out that the birthers are just way too useful.
Which do you think?
Forget birth issue : Chicago Mob Shill can be tried for Treason crime soon
Save it from an insane government that is hell bent on destroying it.
The Destruction of America's Founding Ideals
0f the elite of the NWO have accomplished what they have been working on for decades ... destruction of a middle class. It is estimated that by the year 2050 the white population of the USA will become a minority ... ranging below 50% and that will mark the end of a social group that built the country and worked so hard pursuing the American Dream. Now! before it's too late, there may be enough of us left to understand the severity of what is going on and muster an effort to destroy the enemy that has created this scenario. To put it bluntly it requires an all out revolution that will eliminate the traitors that had a hand it fostering, knowingly becoming stooges for the controlling elite. Our country was founded by the daring of a group of men when they effectively told the king of an empire ... "Go To Hell." That time has come again. We must wake Up!!! Time is of the essence. The younger bamboozled need to be educated.
Even still, the CBO numbers for Obama's new "health care entitlement program" (where the hell are you, Frank Lutz?) only go out for ten years. For the first three of those years, it's projected to be in the black, but for the next seven it's in the red. Averaged out, it's close to "budget neutral" over ten years. Wanna guess what happens in year 11, and every single year after that? Yep, it's a bloody fiscal horror show. It's a lie, alright.
But then again, didn't they tell us that TARP was just a "loan" and "we'll probably make money on our investment"?
http://www.youtube.com/watch?v=nx5SwG_qgjc
Can anyone explain what would happen if Iceland said FU to the European counterparties of their failed banks? Why are the people of Iceland being turned into generational debt slaves to save people in foreign countries? Can anyone help here, because Iceland just represents a more extreme version of what's happening here. Except, of course, we pretend that it's NOT happening -- because how else would the Wall St Gang be able to collect those pretty little bonuses this year? Seriously, I'm just trying to get a sense of the implications of what would happen if Iceland's govt allowed the market to work.
He's NOT Kenyan (by birth), but what do you think he's hiding? It's either something embarrassing OR his handlers have figured out that the birthers are just way too useful.
Which do you think? Both
I think most people who care to know the facts know them by now. Unfortunately, the facts are few and far between as Obama doesn’t want to prove his eligibility, the media won’t vet him, the courts won’t hear a case, and a lot of people don’t care one way or another or don’t understand what is at stake. I think that Obama knows that anything in his past seeing daylight could spark more interest in his background. Most of his past remains a mystery. Consider what you know about Sarah Palin compared to what you know about Obama. Also consider that a long time ago, people cared that Ted Kennedy cheated on a Spanish test and wondered how Dubya got in the Texas Air National Guard. The media has gone out of their way to protect Obama from his past but they descended on Alaska to dig for dirt on Palin with a vengeance. In my opinion, Obama is a fraud and an embarrassment for many reasons. He is quickly proving he has bitten off more than he can chew. His beliefs are dangerous. His ambitions have blinded him to reality. He surrounds himself with scoundrels, birds of a feather. The myth of Obama starts with the claim that he is the first black President and ends with his teleprompter.
gobias,
We agree that Bush was a "fraud and embarrassment," too, right? It's just that Obama has been hailed, by people who should know better, as "the One," as "intelligent," "charismatic" (ugh, puke on Obama!), a great speaker (are they on crack?), etc. -- isn't that what gets in your craw? Even more than the birth certificate (which may hide nothing at all), we KNOW why he won't release his standardized test scores. I always thought that was pretty embarrassing for him (though his ego doesn't seem bothered by it!). And I agree re the media approach to Palin vs. Obama. Believe me, I'm not cryin' any tears over whatever happened with Palin, but I was pretty disconcerted around election time with how little of Obama's past had actually been dealt with critically (or whatever you call the way the MSM deals with a candidate's past). Buyer's remorse, indeed. (Not me personally, mind you.)
Saw you on Clusterstock. Congrats!!
Dr. Ron Paul message today for you all:
http://www.dailypaul.com/node/111305
Plain and simple english? Scam rants by Bernanel(BIN LADEN) Financial AL Qaeda chief?
Bernankie Wants More Savings In USA
Is that why they keep rates at 0? To encourage Americans to put their money in the Banks for .01% interest. Telling Americans to save and not giving them an incentive is talking out of both sides of his mouth.
??????????????????????
HMMMM. I don't think it was the white man who built this great country - well, at least not without the help of their trusty whips. Isn't there a rock or white hood somewhere you can crawl under?
Harsh reality very hard to swallow?
you see the bazooka is doing something worthwhile with his loot stolen, i mean gs exec earned compensation from raping and pillaging america by creating and selling toxic garbage to the world.
the $70m that sorry dishonest sack of beat up football bones STOLE from the US TREASURY'S COFFERS in the form of DEFERRED CAPTIAL GAINS TAX PYMTS (pursuant to IRS sec 1043) from selling all those GS shares to the sheeple's pensions and the other corrupt MUTUAL FUNDS went to...........:
a MINOR LEAGUE SOCCER AND BASEBALL teams in portland via his son, that empty suit of corrupted genes, merittless!!!!
wtf!
to add more salt and to further spit in the face of HONEST HARDWORKING AMERICAN TAXPAYERS, the paulsino crime family is asking TAXPAYERS bear all the risk of his fantasy baseball dreams and to pay for his, i mean, his son's lousy teams' new stadiumS!!!!!!
...bazooka thanks for ruining my country and ty for causing RIOTS and other non peaceful demonstrations across the country you imbecile!
PORTLANDITES AND INVESTORS show some strength and honor for once in your lives and BOYCOTT PAULSON "SUB-PRIME" STADIUMS !!!
OBAMA=UNDER THE COMMAND OF HOME GROWN FINANCIAL AL QAEDA
OIL $79 and dollar getting trashed= USE OIL WEAPON TO BURN BANKER TERRORISTS or Keep screaming on the web and keep dreaming revolution?lol
The Robber Barons Are Back — Hide Your Money!
http://www.alternet.org/workplace/143330
http://oversight.house.gov/contact/
http://banking.senate.gov/public/index.cfm?FuseAction=Contact.ContactForm
http://financialservices.house.gov/contact.html
Now these Blood Sucking pests in Washington started blocking my comments