The Water Cooler
See other The Water Cooler Articles
Title: Reagan Appointed Republican Greenspan: 'United States Can Pay Any Debt Because We Can Always Print Money'...
Source:
cnbc
URL Source: http://www.cnbc.com/id/44051683
Published: Aug 7, 2011
Author: cnbc
Post Date: 2011-08-07 19:46:34 by Brian S
Keywords: None
Views: 6039
Comments: 9
Former Federal Reserve Chairman Alan Greenspan on Sunday ruled out the chance of a US default following S&P's decision to downgrade America's credit rating. "The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default" said Greenspan on NBC's Meet the Press "What I think the S&P thing did was to hit a nerve that there's something basically bad going on, and it's hit the self-esteem of the United States, the psyche" said Greenspan Austan Goolsbee, the chairman of the White House's council of economic advisors, hit out at S&P on the same show, insisting the credit ratings agency had got its math wrong. "Well, the basic case is they made a $2 trillion math error and forgot to check their work," he said. "So rating agencies that didn't make a $2 trillion math error reaffirmed the AAA status. You saw Warren Buffet say that, if they had a AAAA, he would put U.S. Treasurys in AAAA status." Following the decision to downgrade America's credit rating, the head of sovereign ratings at S&P, David Beers, said the Obama administrations analysis of the move was a complete "misrepresentation." Greenspan said the current sense of crisis that has unnerved investors is about the euro zone, not the US. 'The United States was actually doing relatively well, sluggish but going forward until Italy ran into trouble," he said. "That destabilized the European system, and the crisis re-emerged. Europe is very critical to the United States in the sense not only do we have a fourth of our experts there, but more importantly, significant proportion of the foreign affiliate profits, in fact half of U.S. corporations, are in Europe." "When Italy showed signs of significant weakness in selling its bonds—the yield is now over 6 percent, which is an unsustainable level—it created a massive problem within Europe because Italy is a very large country, cannot be easily bailed out and, indeed, cannot be bailed out," Greenspan added.
Post Comment Private Reply Ignore Thread
Top • Page Up • Full Thread • Page Down • Bottom/Latest
#1. To: Brian S (#0)
(Edited)
Greenspan was a good guy in the 1960s. He was a young disciple of Ayn Rand. He went wrong somewhere. I'm not sure if it was before or after he was appointed to the Fed. I suspect that being Fed Chairman for so long resulted in the power going to his head. Power corrupts and absolute power corrupts absolutely -- Lord Acton
You might realize that sinkboy loved this guy enough to keep him on his entire term.
Obama has played at being a president while enjoying the perks … golf, insanely expensive vacations at tax-payer expense. He has ignored the responsibilities of the job; no plans, no budgets, no alternatives … just finger pointing; making him a complete failure as a president
I forgive President Reagan for appointing him. It was late in his Presidency.
Never swear "allegiance" to anything other than the 'right to change your mind'!
He went wrong somewhere. He went from Smeagol to Gollem.
I don't.
How can someone like Reagan and Obama? That is a contradiction.
He went wrong somewhere. He went wrong worshipping Rand's demented ideology.
With the economy still in the dumper -- maybe permanently? -- and full-time jobs becoming as scarce as rain during a drought, huge percentages of Americans have had their (misplaced) faith in the American dream shaken, the upper-middle-class consumerist lifestyle is exposed as a mirage for anybody who plays by the rules. Capitalism and the America that embraced it as a way of life is now and forever more a failure. It does me good to know that the generation that voted in Reagan and his ideology will see their America die from that ideology before their very own eyes and knowing they had a hand in its destruction.
He was brainwashed by the Rockefeller Republicans and Poppy CIA Bush. MKULTRA, along with Ted Kaczynski, Ken Keasy, etc... Obama's watch stopped on 24 May 2008, but he's been too busy smoking crack to notice.
He was brainwashed by the Rockefeller Republicans... No, he just liked power. It's just that simple. Power corrupts and absolute power corrupts absolutely -- no truer words were ever spoken. Gooberson, like all brain dead leftists, just doesn't get it.
This small group of terrorists [Tea Party members] have made it impossible to spend any money. -- Mike Doyle (D-PA)
#2. To: Brian S (#0)
#3. To: jwpegler (#1)
#4. To: jwpegler (#1)
Greenspan was a good guy in the 1960s. He was a young disciple of Ayn Rand.
#5. To: Brian S (#3)
I forgive President Reagan for appointing him.
#6. To: Brian S (#3)
I forgive President Reagan for appointing him. It was late in his Presidency.
#7. To: jwpegler, Brian S, no gnu taxes, We The People, A K A Stone (#1)
He was a young disciple of Ayn Rand.
#8. To: Godwinson, *Yukon neo-Progressive Vermin* (#7)
He went wrong worshipping Rand'
"We (government) need to do a lot less, a lot sooner" ~Ron Paul
#9. To: hondo68, gooberson (#8)
(Edited)
He went wrong worshipping Rand...
This small group of terrorists [Tea Party members] have made it impossible to spend any money. -- Mike Doyle (D-PA)
Top • Page Up • Full Thread • Page Down • Bottom/Latest
[Home] [Headlines] [Latest Articles] [Latest Comments] [Post] [Mail] [Sign-in] [Setup] [Help] [Register]