Alan Greenspan Endorses John McCain

Reuters:

There is more than a 50 percent chance the United States could go into recession, former Federal Reserve chairman Alan Greenspan told El Pais newspaper in an interview published on Sunday.

Greenspan, the U.S. Fed chairman from 1987 to 2006, endorsed the Republican presidential candidate John McCain in the interview.

"I'm Republican and I support John McCain, who I know very well and who I respect a lot," he said.

Read the whole story: Reuters

Comments

[Denni]

Well how can that be? Clinton wants him to work with her. I guess he didn't get the memo. Greenspan and McCain... A matched set.

[WIpatriot]

He's a pubikan all the way.

[mrkdds]

How can this supposed "economic genius" actually support the failed economic policies of this man and his predecessor? What an old school fool............

[WIpatriot]

See tml's post above.

[Doofus]

,At a recent meeting with the Wall Street Journal editorial board, Republican presidential candidate John McCain admitted he "doesn't really understand economics" and then pointed to his adviser and former Senate colleague, Phil Gramm - whom he had brought with him to the meeting - as the expert he turns to on the subject, The Huffington Post has learned.'

http://www.huffingtonpost.com/2008/01/21/short-on-economic-underst_n_82529.html

That John McCain? Or maybe Greenspan's thinking of a different one.

[ReasonIsMyReligion]

It's all about the taxes on the rich. Period.

[WIpatriot]

No, that's the one. The one who kisses the feet of Sir Alan of Greenspan's [cough, cough] financial wisdom and gobbdleyspeak.

[elpollo]

Another jackal wife. Is she still Chimpy's secretary of labor?

[ReasonIsMyReligion]

Is 100% "more than 50%?" I'd say so.

[WIpatriot]

Depends, Reason. 100% empty is less than 50% empty. Now, to apply for that job at faux....

[ObGyn]

Or they are equal:

100% of nothing equals 50% of nothing.

[ReasonIsMyReligion]

How on god's green earth can any economist who values his integrity ignore ALL empirical evidence of the abject FAILURE of Republican economic policies to endorse John McSame?

Fercrissakes.

Booms during Democratic administrations are "irrational." Booms during Republican administrations -- even when bought with debt on our children's heads? Sound economic policy.

Greenspan's epitaph should someday read,
"I have run out of irrational exuberance."

The supply of his bullsh*t has exceeded the demand.

[Liberal2]

Heh, looks like you fail to grasp the foundation of Greenspan's economic philosophy: the problem is the little guy. The wealthy would never suffer a recession if not for all those little people demanding food, water, clothing, housing...

[ReasonIsMyReligion]

Slightly OT:

When Greenspan's wife, Andrea Mitchell, starts talking economics... consider who she gets her economic advice from.

[TN]

Susie Orman on Larry King blamed Greenspan. This is good for us, the old codgers share the same economic vision, and policy that got us into this mess.

[OverIt]

Greenspan has just proven his irrelevance and his self-interest in maintaining the status quo regarding financial regulation. I'm sure any credible inquiry into exactly how we got ourselves into such a financial pickle as a nation would lead right to his door.

[Daniel8168]

I heard an interview with Greenspan a few months ago, and he not only said there was a greater than 50% chance of a recession, but he said there was an almost equal chance of stagflation.

And for anyone who is unsure what the difference between recession and depression is, the only real difference is how they are pronounced. There's an old economist's joke that explains the difference a little better - "A recession is when YOU lose YOUR job. A depression is when I lose MY job."

[ReasonIsMyReligion]

Well, gee:

If the chance of recession is 50% (aside from the fact we're already IN one, though it will take a quarter or two to make the official hind-sight diagnosis), and the change of recession in conjunction with inflation is 50%, doesn't that imply the stand-alone chance of inflation is... 100%?

I mean, Bernanke couldn't make money any cheaper without GIVING it away. Oh wait...

At 2.25% after the last 0.75% cut, there's only three rabbits left in that hat.

[MadeinAmericaProud]

Very well put, Lots of have been in a depression(hole), therefore, When Greenspan spoke I didn't listen. But McCain does provide valid talking points he does not know, what he does not know (rumsfelt). He does not like the rest of us the man that caused the sh*t to hit the fan, would be the man he would hire or take advice from after purchasing the book no one else wants to buy,

He helped with the story the emperor a has a new suit for years on the interest rates being so low.Senior citizens being robbed of interest on their savings.

It is time to turn the page America before we all helping each other put on straight jackets. I strap you in and you do me. Then what?

[oafishcad]

Greenspan has always been a partisan Republican. Why do yawl think the interest rates went so low right before the last Presidential eleaction (and helped cause the mess we're in now)?

[BlackWidowPilot]

A senile corporatist endorses a senile corporatist. This is news because?

Leland R. Erickson

Citizen

[MadeinAmericaProud]

This is the senile person the Hillary supporter said they would vote for if they didn't get the nom. I say go for it. Hell we are in the hole.

[FightingTheRight]

McCain and Greenspan.

Dumb and Dumber.

But which one is which?

[johnmorgan]

Hey, maybe Greenspan should run for vice-president with McInsane!

[ObamaEdwards]

Oh, yeah, that's going to bring in the votes. One dead fart endorsing another.

[suekzoo]

I guess Greenspan will now get kicked off of Clinton's "fix it" committee for the economy. Such a shame...

[JohnFromCensornati]

Why?
This is not news.
He said he would vote RepubliCon months ago on 60 Minutes.
Way before the choices had been narrowed to three.
BTW - I said three even though RuPaul is still "in the race".

[suekzoo]

I guess the sarcasm escaped you.

[Independent voter]

Greenspan single handedly fucjed up the tech bubble in 1999/200 with punitive interest rate increases.

This same cross eyed idiot is largely responsible for the mortgage clusterfuck as a result of lowering the prime in the neighborhood of 1%.

McNasty can have him.

[Manx]

Senator Reid once referred to Alan Greenspan as a "political hack." Now we know why.