This process effectively subsidizes U.S. interest rates, thus propping up U.S. asset markets and enticing American consumers into even more debt. Awash in newfound purchasing power, Americans then turn around and buy everything from Chinese-made DVD players to Japanese cars."
but he does fault him for being a "cheerleader for policies such as tax cuts...that could make the endgame all the more treacherous."
Why would you be against Tax Cuts if Americans are in debt?
In an interview this morning, Roach said, "That's a little extreme." He does admit the nation has prospered on Greenspan's watch. Still, he does not disavow the haymakers he directs at the chairman's chin.
I don't agree with everything Greenspan and the administration has done fiscally, but this guy sounds like a jackass and wants attention.