
For more than two decades, the Fed has been the prime enabler of dangerously speculative economy - nickb
http://www.prospect.org/cs/articles?article=the_fed_as_enabler
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trevelyan
Dangerously speculative? The severity of recessions has shown a downward trend
since the 1970s. Milder downturns is largely attributable to better monetary
policy.

If Greenspan should be nailed to the wall for anything, it is for stabbing
social security in the back by cheerleading Bush's tax cuts and priming
inflation by throwing the budget massively into deficit. These costs are going
to be borne by US consumers for a long-time.

The problems Greenspan has engendered has everything to do with his personal
ideological bent and nothing to do with the role the Fed plays in the national
economy (in that capacity, he did his job excellently). As someone who enjoys
eating, I'm glad his successor is keeping the economy from a liquidity crisis.

