Wednesday, September 15, 2010

Greenspan says taxes must rise so that the economy can expand!!!

"We should not have tax cuts with borrowed money, but we should have tax cuts, and the more as far as I'm concerned the better, but only in the context of bringing the deficit down," he said. "Unless we do that, I think we have very grave problems ahead."

Greenspan is certifiable. He's either gone off the deep end or just "talking the book" of whoever he is working for now. Pimco?? I guess they want him to help engineer a depression so that their Treasury portfolio soars and they end up managing all the money in the world and controlling the world. This is better than any suspense novel.


Tom Hickey said...


googleheim said...

Well, I made the argument that raising taxes especially in the corporate sector where the CDO's and all that BS exists would create a check & balance on the freaks who were totally out of control controlling everyone's debts and papers.

I think it's OK as per Greenspan as long as it is the corporations who were left unaccounted during the run up