Alan Greenspan: Fed Can't Do Anything Else To Combat Unemployment, Should Focus On Inflation

WASHINGTON (Reuters) - The Federal Reserve has done all it can do to reduce unemployment and needs to worry more about the risk of inflation from the stimulus it poured into the economy, former Fed Chairman Alan Greenspan said on Sunday.

Read the whole story: Reuters

Comments

[therealredstateblues]

06:49 AM on 12/16/2009

Tell me why anyone should care what Easy Al hs to say?

hasn't he F'ed things up enough?

[AirViceMarshalPark]

01:23 AM on 12/16/2009

Time for you to go visit Ayn Rand, Alan.

Little did we know that this mumbler was part of a cult.

[balancedsolution]

09:15 PM on 12/15/2009

the emporer has no clothes

[KossAtl]

08:50 PM on 12/15/2009

Free market no regulation Alan Greenspan should be in a jail cell next to Bernie Madoff.

[kidolympic]

06:44 PM on 12/15/2009

After the skies are clear, what does the Fed do to rely on the automobile?

http://www.youtube.com/watch?v=BX2RxlXCZKA

http://www.youtube.com/watch?v=1scZ9rMyJek&feature=related

What do you think about all glass ground safety for the administration?

[tuberider]

06:17 PM on 12/15/2009

He wants to be right once before the Final Accounting. That's right: The Big "I" is coming!

[FreedomCorpse]

05:57 PM on 12/15/2009

Oh yes the Fed can Alan, its called "go away". Don't you remember your own words Alan?

"The abandonment of the gold standard made it possible for the welfare statists (government bureaucrats) to use the banking system as an unlimited expansion of credit. In the absence of the gold standard, there is no way to protect savings from confiscation through inflation... Deficit spending is simply a scheme for the "hidden" confiscation of wealth. Gold stands in the way of this insidious process." - Alan Greenspan

[DiogenesOfAlaska]

04:53 PM on 12/15/2009

'There's just so much monetary policy and the central bank can do' says Greenspan.

Well, maestro, it ain't called 'monetary policy' no more. The name of the game has changed after firefighter Ben became busy tidying up the mess you left for him.

Why don't you get yourself a clue or just quit your oracling?

[invest in jobs]

11:29 AM on 12/15/2009

I'm tired of all this empty populist rhetoric by the Obama administration while so little is actually being done in terms of actions & results. Everyone is afraid to attack the culprit of this problem; capitalism for fear of being labeled a commun1st, a democrat, a liberal or even worse. ...
hat tip to http://financeopinionss.blogspot.com

So we're stuck chasing our tails. In a month come earnings season we'll hear of the new record Goldman bonuses and the usual 'we're not going to gonna take it anymore'

[jeffrey678]

10:00 AM on 12/15/2009

Alan Greenspan is NO friend to Democrats,beware his advice http://angrybear.blogspot.com/2007/03/did-alan-greenspan-illegally-manipulate.html#comments

[JeffreyGold]

08:30 AM on 12/15/2009

Will the sociopaths please rise? Have you no sense of decency, sir? At long last, have you left no sense of decency? Oh, no decency? How about shame? Have you no shame? None of that either? Well, what do you have? Oh, you have us where you want us? Congratulations. It's a real achievement.

[JeffreyGold]

08:12 AM on 12/15/2009

These people are shameless, SHAMELESS, I tell you. They have destroyed us, and they still flap their gums. Are they getting paid to flap their gums? Are they getting bonuses for wagging their jaws? When are they being relocated to Supermax? When will these idiots be branded as the domestic enemies/economic terrorists they are? When will working Americans---the ones who actually work and are too tired to care and too demoralized to fight---finally wake up and realize there is no long-term recovery? Let's tear it all down so we can rebuild America without these mountebanks. GO AWAY, GREENSPAN! Have you no sense of shame, sir? At long last, have you left no sense of shame? It is no longer safe for you to remain in the United States. You must leave immediately, along with our failed government and their faux financiers---Goldman Sachs. Please leave now. One crisis after another: Savings & Loan, Enron, Goldman Sachs. How many more colossal failures do we need before Americans wake up and realize that the American financial sector consists of about 90% fraud and 35% inflated overestimates?

[CologneCitizen]

02:29 AM on 12/15/2009

Of course they can't create jobs. The same as any administration cannot create jobs.

All an administration can do is to lay the groundwork in an econonic way for companies and people to invest so people will get employed. Stimulus programs for home insulation or so just are short term stuff that doesn't create real jobs.

IMO it will take some time for the USA to have their own manufacturing base again if that even happens. It it does there have to be products people are willing and able to buy, in the USA and abroad. And not all of you will be needed in the future who had jobs before. However nobody will communicate this inconvenient truth to you.

[LeftRight]

10:05 AM on 12/15/2009

The administration can create jobs, by changing policies that make jobs. The Fed cannot create jobs because the only policies that they have relate to lending money!

[02bmw76]

12:47 AM on 12/15/2009

Make time to watch this video. Google The Money Masters. It's long, about three hours. Watch the information on the Federal Reserve. It may educate those that don't understand the workings of our banking system.

[flossophy]

04:09 AM on 12/15/2009

Or just watch Niall Ferguson's "The Ascent of Money" on PBS.... it's way better.

[One more Thing]

12:31 AM on 12/15/2009

For a man who came pretty darn near destroying our country I think he has offered all the advice we need!