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By Ellen E. Schultz
By Richard Rhodes
$28.95
$20
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White House / Shealah Craighead
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The former Fed chair told angry lawmakers on Thursday that after 40 years of buying into free-market ideology he had “found a flaw.” Rep. Henry Waxman told Greenspan “our whole economy is paying the price” because he ignored advice and resisted regulation.
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group30.org
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Former Federal Reserve Chairman Paul Volcker said Tuesday that the U.S. was already in a recession, despite the efforts of the U.S. government and other nations’ leaders to intervene. “I have seen a lot of crises but I have never seen anything quite like this one,” said Volcker, who headed up the Fed for eight years before Alan Greenspan took over in 1987.
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Alan Greenspan is no fan of the Bush administration or the once-dominant congressional Republicans. In his new memoir, “The Age of Turbulence: Adventures in a New World,” the former Federal Reserve chairman disparages the two groups for violating the GOP’s values on spending and small government. Updated
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news.yahoo.com
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The stock market Tuesday had its worst day since 9/11 as investors around the world began to lose faith in the U.S. economy. The Dow fell by 4.3 percent, and S&P estimated total losses at $632 billion. The development came only a day after Alan Greenspan warned of a potential recession.
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The Economist
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Alan Greenspan used his powers of economic foresight Monday to caution Americans about a possible upcoming recession. While the former Fed chairman stressed that he can’t accurately predict changes far in advance, Greenspan speculated that we may see a dip in the economy within the year.
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Marching in Chicago: Resisting Rahm Emanuel’s Neoliberal Savagery
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