28 May 2017

Discussing The Recovery™ and Financialization With Alan Greenspan and the Limited Liability Establishment

"Patriotism is supporting your country all the time, and your government when it deserves it."

Mark Twain

Here is an encounter during a Congressional hearing that Bernie Sanders had with Alan Greenspan in 2003.

In the light of history, how do you think that events have shone any light on these two different perspectives?

The pity is that Senator Sanders could have this same conversation with Janet Yellen, and  most of the mainstream media, and the professional elite, and certainly the majority of his political colleagues on both sides of the aisle, today.  And their responses would still be substantially the same.

That is the shameless hypocrisy of the credibility trap.

And what excuses will they offer after the next financial crisis?