Quote:
Originally Posted by marketsmart
i cant wait for the idiots to come out and blame greenspan for the current economy..
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Greenspan is merely a cog in the wheel that threw gasoline on a fire.
It started back in 1913 with Woodrow Wilson (D) enacting the Federal Reserve Act. Taking the control of the currency and handing it the Federal Reserve.
Followed by FDR (D) making gold ownership illegal in 1933 and then confiscating all gold.
Followed by Richard Nixon (R) completely removing us from the Gold Standard.
Followed by Alan Greenspan (Reagan, Bush, Clinton, Bush II) devaluing the currency via massive expansion of credit/money printing. It is now being referred to as the "Greenspan Bubble".
As to government spending/tax cuts. There needs to be a massive slashing of spending... Military, Social Security, Medicare, pork projects, etc. What really needs to happen is for this country to go back to the original intent of the Constitution and that is a Federal Government responsible for a few basic things... The rest the states handle.