Greenspan's inability to accept at least some responsibility for the bizarre economic policies since the crash of 1987--Band-Aid on top of Band-Aid, the abject failure of supply side economics to distribute wealth equitably--as is the principle of capitalism--and the politicization of everything that represents liberty will eventually turn its back on the perpetrators of the colossal scam that is debasing the foundations of the capitalist paradigm.
Where is the next bubble? The Interest Rate derivatives market is a prime candidate--especially if rates rise and make a mockery of the presuppositions that are the basis for derivative algorithms.
Things are truly out of whack and the 'silent majority' will soon wake up to the reality of the situation.
"There must be some way out of here,” said the joker to the thief,
“There’s too much confusion, I can’t get no relief.
Businessmen, they drink my wine, plowmen dig my earth,
None of them along the line know what any of it is worth.”
“No reason to get excited,” the thief, he kindly spoke,
“There are many here among us who feel that life is but a joke.
But you and I, we’ve been through that, and this is not our fate,
So let us not talk falsely now, the hour is getting late.”
All along the watchtower, princes kept the view
While all the women came and went, barefoot servants, too.
Outside in the distance a wildcat did growl,
Two riders were approaching, the wind began to howl.
All Along the Watchtower: Bob Dylan 1968
As performed by the Master
Love him or hate him: Robert Reich calls things as he sees them--often with great clarity, insight and veracity.
Robert Reich (Greenspan, Summers, and Why the Economy Is So Out of Whack)
I Saw the Crisis Coming. Why Didn’t the Fed? Michael J.Burry