finance


Greenspan: “There is nothing to prevent the government from creating as much money as it wants.”   Recently updated !

There is the YouTube video Greenspan: “There is nothing to prevent the government from creating as much money as it wants.”

You can see in the way that Paul Ryan nods at Alan Greenspan’s answer that this is going in one ear and dribbling right out of the other. Given as Greenspan says, that the government cannot possibly run out of money to pay social security beneficiaries, and given that anything in the private sector can run out of money, then private investment accounts are obviously much less secure than federal government operated social security.


Can You Stand Four More Years Of This?

Follow this link to the New York Times story on the collapse of Lehman Brothers, the sale of Merrill Lynch, and probable troubles for AIG.

On Friday, the news was that Lehman Brothers was in much better shape than Bear Sterns had been when they went belly up.  I guess that story was like the predicted $200 per barrel oil. As soon as you start hearing stories like this, you check to make sure your wallet is still safe.

Can you stand four more years of this stellar performance by the regulators, the treasury, and the Federal Reserve? How about the proposition that Sarah Palin knows what to do? I think it is time to get serious, folks.  The situation is far too dire to keep fooling around.