by Mac Slavo, SHTF Plan:
1Former Federal Reserve chairman and consummate insider Alan Greenspan discussed his concerns that things were tipping out of “equilibrium” and spinning into instability and chaos.
Stagnation, lack of growth, and forced growth that is only going through the motions. It is all catching up with us, and it may be the fault of “the crazies,” Greenspan warned.
But who exactly is he referring to?
•Is it his own crowd of the feckless and incompetent choking the life out of America through monetary policies?
•Or maybe the suicidal nihilists trading derivatives on Wall Street and playing with matches?
•Or the class of working bankers and lenders, piling up more incendiary fertilizer material on the load before the crash comes, flinging more excrement into the fan and leveraging a complete and total disaster of epic proportions?
•Or is it the class of power brokers, who quietly, coldly shifted around a few pieces that cost the other side the entire farm, and the shirt on their backs, too?
Alan Greenspan doesn’t specify. He just warns us to heed the danger of “the crazies.”
Former Federal Reserve Chairman Alan Greenspan voiced concern that the U.S. economic and political system could be undermined by what he called “crazies.”
“It is the worst economic and political environment that I’ve ever been remotely related to,” Greenspan, 90, told a conference in Washington Tuesday evening sponsored by Stanford University and the University of Chicago.
Greenspan repeated his concern on Tuesday that increased government spending on social security and healthcare are crowding out private investment and leading to slower economic growth. He bemoaned the fact that neither presidential candidate was talking about reining in those expenditures.
“Nobody wants to discuss it” for fear of a political backlash, he said.
Greenspan echoed the ‘confessional’ warning of Lord Jacob Rothschild, who cautioned that central banks were undertaking an ‘unprecedented experiment,’ which was the greatest in financial history. Rothschild stated:
“The six months under review have seen central bankers continuing what is surely the greatest experiment in monetary policy in the history of the world. We are therefore in uncharted waters and it is impossible to predict the unintended consequences of very low interest rates, with some 30 percent of global government debt at negative yields, combined with quantitative easing on a massive scale,” Rothschild writes in the company’s semi-annual financial report.
The banker notes this policy has led to a rapid growth of stock markets… However, the real sector of economy didn’t enjoy such a profit, as “growth remains anemic, with weak demand and deflation in many parts of the developed world,” according to Rothschild.
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