The Stupidity

Of the people that we turn our future over to...Here's a great article (via Atrios) about Alan Greenspan, who was allowed to run our economy for years, with predictable results, at least to anyone who really cared enough to open their eyes:

"Alan Greenspan Insists That He Knows Nothing About the Economy

That's what the Dow Jones effectively told readers today. The article reported that in response to a question at a conference:

"Greenspan also said he believes that the sharp rise in gold prices is due to market concerns about inflation taking off in the long run. He noted how there has never been such a major expansion of credit in U.S. economic history."

Well, actually credit expanded more rapidly than the 4.2 percent rate in 2010 in every single year that Greenspan chaired the Fed. In fact, it expanded more rapidly in every year in this series (going back to 1976) and probably every year since the Great Depression."

Well, is Greenspan an ignorant, stupid person too lazy to check his facts, or is he just a willing collaborator in the looting of our economy by the super-rich?  I'm not sure- there's plenty of evidence to support either interpretation, isn't there?  And as for stupidity, how about those presidents (That includes you, Bill) who decided it would be a good idea to put our fate in the hands of a slavish worshipper of Ayn Rand, a woman whose writings most people grow out of around the age of 17?  How could we not be in the sort of trouble we are today with guys like Alan Greenspan running things?

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