06-03 15:00: RANsquawk Today's Trading Edge
Back in March, the former Fed chairman said that we're in trouble because "productivity is dead in the water, and real capital investment is way below average because business people are very uncertain about the future." Greenspan went on to add that entitlement programs are crowding out capital investment, and thus crowding out productivity."
Alan Greenspan is back delivering more warnings about the state of the global economy, hammering home the same key points made back in March.
"We have a global problem of a shortage in productivity growth and it's not only the United States but it's pretty much around the world, and it's being caused by the fact that populations everywhere in the Western world are aging, and we're not committing enough of our resources to fund that. We should be running federal surpluses right now not deficits. This is something we could have anticipated twenty five years ago and in fact we did, but nobody's done anything about it. This is the crisis which has come upon us."
Of course nobody has done anything about it Alan, your prior employer makes it so that precisely zero fiscal accountability needs to take place.
Entitlements are still a hot button issue with Greenspan (as they should be for everyone), saying that if we don't fix this issue we're headed for a disaster. Greenspan wants entitlements (and the America's inability to fund them in any way shape or form) to be the central issue of the presidential debate.
"Entitlements are crowding out savings, and hence capital investment. Capital investment is the critical issue in productivity growth, and productivity growth in turn is the crucial issue in economic growth. We're running to a state of disaster unless we turn this around."
"This should be the central issue of the presidential debate. Unless and until we can rein in entitlements, which have been rising at a nine percent annual rate in the United States and comparable levels throughout the world, we are going to find that productivity is going to maintain a very low rate of increase"
Greenspan also doesn't really view recession as the biggest problem right now, he is concerned (rightfully so) about the longer term problem of low economic growth and soaring entitlement growth.
"I don't think that's our problem. Our problem is not recession which is a short-term economic problem, I think youhave a very profound long-term problem of economic growth at the time when in the Western world there is a very large migration from being a worker to being a recipient of social benefits"
As we said last time, Greenspan spoke some truthiness for once, if only he hadn't gotten us into this mess in the first place.
Still alive? Shameless.
Could somebody just sprinkle Alan the Un-dead with Holy Water to make him go away? ;-)
Looney
alan greenspan is an asshole...
they never die -greedspan, soros, redstone, etc.
is he woody allen's long lost dad?
or just 1100 years of Khazar inbreeding ?
It's not lack of productivity.
It's Greenspan's legacy of running loose money and exploding the debt-to-gdp ratio now over 340%.
http://www.macrotrends.net/1381/debt-to-gdp-ratio-historical-chart
I think we should sic the Winchester brothers on him...
;-D
Once again Greenspan gets the data right but draws the wrong conclusions
productivity growth = increase in units produces/unit cost
Greenspan conclusion: not enough niggers working for chicken shit wages. More peons and coolies needed. More slaves needed.
Greenspan and his equivalent spawn are all sons and bitches of the devil. They KNOW what causes our misery... it's their very private scheme called international usury. A step in the right direction for all honest people would be to put an end to their collective respiration. Problem solved.
Greenspam trying very hard to lock in some revisionist history. He locked in deficit financing and now wants to distance himself from his spawn. Greenspam created Bernanke and the Yellen.
He is Patient 0 and should be treated as the disease that he is...
Greenspan has been trying to deflect blame for years.
Face it, Al- this is on YOU. The REAL problem is a lack of accountability, as demonstrated by the Fed.
Fuck you, Al.
HE Was The Most Successfull FED'ster Ever To Suppress The Fiats Price Of GOLD...
Greenspan, you scrawny little worm, how the fuck is anyone on the face of the planet going to undo every . fucking . thing that you and your crime gang at the Federal Racketeers® did over the . last . fucking . thirty . years in a quick yet orderly fashion without Western "civilization" going completely off the fucking rails?!
Name that tune, Maestrobator.
Hey, why don't you guys say what you really think about Greenspan. Just spit it out and quit beating around the bush.
There's a special place in hell for this type of scumbag
Alan, you look good with that green visor, around and around she goes, where she stops nobody knows.
Yep, and he knew better, too. Wrote about it in 1966; "Gold and Economic Freedom:
http://www.constitution.org/mon/greenspan_gold.htm
"This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard."
So the climate in America today is jobs have left the country by the MILLIONS because of free trade policies and wages have been severely depressed because of this and open boarders. Couple that with a "MUST HAVE INFLATION" environment and some people are complaining about entitlements so the less fortunate won't even be allowed to eat anymore, let alone get a job.
The finger is being pointed in the wrong direction, yet again.
Think about where you will be in 100 years.
John 3:16
"Alan Greenspan"
Well, isn't that the Jew calling the 99% "black"...
His liver-lipped, fucking handy work...
Zionist poster boy for Rockefeller/Rothschilds.
I'm sure he means this kind of ENTITLEMENT.
https://goo.gl/bFYusM
You have to wonder what kind of rituals happen when he gets together with Henry K. and the boys.
Who will save us now? Can Donald Trump be John Galt?
No, from how he sees it, he is correct. Oh, how the mighty have fallen. The ONLY WAY this ponzi scheme keeps going is if the population keeps growing and there are exponentially more young people to pay for the increasingly numerous old folks that have entitlements.
What you are witnessing is the epiphany of an old man that realizes .... for the fiat and perpetual growth system to continue, we must all sacrifice our culture and nationalism. Japan has brought this to their gaze. Just like he couldn't imagine a contraction in home values, none of them ever envisioned a planet where people would stop reproducing in an exponential rate.
be part of any of the nepharious groups you want, but one must conquer the natives as well as any native lands. The US is trying to import South Americans to keep the ponzi alive. Europe is trying to import Africans and Muslims.
That's the comical part. They are realizing that the 'new blood' they must bring in to work twice as hard for half as much, just don't think quite like they do.
and then there is America.. the reserve and safe spot. 25 years after the end of the cold war, we have a socialist running for president. A self publicity pimp who runs Miss America, casinos and resorts.. and a master of mass media. ...and the new way to get into office for a 3rd of 4th term.
there is one thing to watch in the very near future. there is one of three candidates that is viewed as any form of the establishment. If, they have no choice but to let her burn, they will run for the hills. Then, it's a matter of you reckoning how useful you are in your local community.
as always... Qui Bono?
Presscot Bush, who hand picked Nixon and ran him as a yute in Cali or somewhere..... just didn't have good sperm. Sure, his son killed Kenedy and brought Nixon into power... well? That sort of petered out. Save Bill.
Bill bennefits. Bill's 'role' was said by Hillary to be in charge of the economy, recent presser. Bill reaped the fruits of the end of the Cold War as well as the US military taking over the balkins and then most of Eastern Europe.
Bill started the free trade agreement age.
Bill started the internet age. [started meaning in charge at the time.]
It is my belief that Hillary and probably Bill, are about to get hung out to fucking dry. The knight on the white horse rarely shows up before he's needed.
for the fiat and perpetual growth system to continue, we must all sacrifice our culture and nationalism...
The TPP wias designed with the sole intent of buying their ponzi scheme some time.
so growth is the disease, yup, just like bacteria. problem is hockey stick like trajectory.
gonna be one som-of-a-bitchy day coming soon. cuts to the fenced piggies and they gonna eat each other...
Since we're gonna talk about 'entitlements', can we also discuss the corporate welfare and entitlement program?
when he was fed head he certainly seemed "concerned" about recession, knocking short rates to near zero at the first sign of one. not to mention zero regulation of the giant banks and zero consequences for the criminal cabal that ran the largest control fraud in the history of the world.
and while we're discussing entitlements, and it only seems off topic, when can we renegotiate our relationship with israel? and the treasury/goldman sachs?
please attend mandatory diversity re-education and accept entitled people. and tell greenspan to stfu.
Concerning your last questions, I don't have to wake you up, it's Rhetorical.
The MilIndComplex aka Deep State runs the theatre. It's 1984 in a brave new world. Get away from the system. Buy solar panels, arange your own water, chickens, veggies.
"Greenspan went on to add that entitlement programs are crowding out capital investment, and thus crowding out productivity."
More BS from the master BSer.
Many in the establishment think "If we could just wipe out social security, welfare, disability and maybe confiscate pensions and 401Ks, too, then everything will be alright."
What shit!! That is just pouring more money and people down a black hole
The answer is a total overhaul.
Time to rein in the international rentier class. End corporate entitlements. Profits are way too high, so increase tariffs and force jobs back into this country, where wages pay for labor and entitlements. But jobs aren't enough. American workers need the best tools in the world. That will increase Greenspan's precious productivity.
Let wealth trickle up. The rich have no trouble capturing wealth.
Trump 2016.
I thought getting 0.2% interest on bank accounts screwed up savings.
Greenspan is bad stuff. And so is anal sex. Did you know that anal sex is the devil's work. It's true. So please pull your pants up and start acting correctly. Word to your mother.
"Trump 2016"?
Yeah, Goldman Sachs-George Soros campaign manager, Rudolph Giuliani, Chris Christie, Sheldon Adelson, and golfing buddy Jon Boehner...
Yeah, I am sure they are working hard to end corporate entitlements...
...all real "outsiders"...
Read much?
I read plenty.
Go vote for Hillary or David French and be happy.
In a word, no. We don't direct the narrative.
Absolutely, lets start with Ethanol subsidies, the dumbest idea an Iowa farmer ever fell in love with.. Yes, dumber than bessy..
This shows how far gone the whole enchilada is. Nothing left to do but flush it, right along with corporate personhood and the fraud markets. EL QUESO ESTA VIEJO Y PODRIDO ANDONDE ESTA EL BANO
Killing the 5-7 billion dollars worth of annual corn subsidies would probably do wonders for obesity in this country as well.
As to Corporate welfare and entitements, I, for one believe they should have ceased after the end of WWII.
But I welcome your thoughts. You're always worth a read.
Uncle Milton is patient zero. He's the godfather of all this buffoonery.
This post should get millions of upvotes and then a copy should be shoved up Greenspans ass.
It's the vast amount of money siphoned off by the banks and Wall St. which lowers capital investment. Entitlements are a long, long way behind.
Ill chop wood and carry wood all mother fucking day!! Never miss an opportunity to increase ones kung fu! I charge 1 troy per day. I have a heavily self taught understanding of botony, permaculture, soil development, food preservation and storage, skilled range of food preperation including sauces, jams, and syrups, some apiary knowledge but no hands on yet. Also can make alcohol from wood and fruuts and malts. Have basic understanding in the hemp seed to diesel fuel conversion but havent gone throught the entire process. Have working understanding of fluid dynamics systems and how they work in a closed food grade facility, including allen bradely controls of systrms.
Anyway. Thats a small sampling off all the things i have done, am willing to do ot look foward to learning at some point. And i cant find work that pays more than 13 buckaroos an hour.
America.
Love how he says "we". "We" didn't create this situation, you did Greenspan.
"Not my fault. I was just following orders. Every time I tried to deviate, they pulled my puppet strings and slapped me around a bit. And they made me talk like an educated moron to Congress and just about everyone else." - Greenspan
<"Pssst....Gold really IS money." - The real Greenspeak>
who really wants to end up looking like harry reid, or jfk?
or the world trade center?
Don't forget Mr. Magoo
There IS a resemblance, isn't there.
At least you could understand what Mr. Magoo meant when he said something...