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Greenspan: Immigration reform will help U.S. economy
Newsday ^ | April 30, 2009 | TOM BRUN

Posted on 05/01/2009 12:42:37 PM PDT by La Lydia

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To: Wolfie

“Dear Alan,

Go f*** yourself.



41 posted on 05/01/2009 1:43:00 PM PDT by fightinbluhen51 ("MOLON LABE")
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To: Attention Surplus Disorder

“Y’know, when people say “the economy”, they all mean different things.

To’s unemployment
To’s stock market levels
To’s low, moderate inflation
To’s trade
To’s corporate profits.
To’s the trade deficit
To’s the rate of business formation

Greenspan is in a different camp. What he’s saying here, and he’s right, is that it would really, really help his banker buddies, if US wages were driven much lower, and if the selective enforcement of laws, never mind the Constitution, would really really help out his pals with all the congressites they could buy off.”

BINGO, and the man in his own words to support that view:

“The presumption that you could incrementally defuse a bubble was a fantasy. Clearly, you cannot defuse these things, unless you hit them right on the head and break the economy. Essentially, break the potential profitability that is engendering that sort of stuff. We could have basically clamped down on the American economy, generated a 10 percent unemployment rate. And I will guarantee we would not have had a housing boom, stock market boom or indeed a particularly good economy either.”

The Federal Reserve is a Banking Cartel, it is NOT free market. /FED!

42 posted on 05/01/2009 1:50:43 PM PDT by fightinbluhen51 ("MOLON LABE")
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To: La Lydia
Dear Mr. Andrea Mitchell,



43 posted on 05/01/2009 1:52:42 PM PDT by Dahoser (The missus and I joined the NRA. Who says Obama can't inspire conservatives?)
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To: RC2
Something like “Meals on Wheels”.

More like illegal alien eaters on paws.

44 posted on 05/01/2009 1:56:35 PM PDT by Just another Joe (Warning: FReeping can be addictive and helpful to your mental health)
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To: La Lydia
Schumer responded that the biggest fear of Americans is that a new overhaul, like the 1986 amnesty for undocumented workers, would not stop the influx of illegal immigrants in the future. "Their biggest fear is that it's going to happen again and again and again," he said.

Well dumba** that is the track record!!!

45 posted on 05/01/2009 2:17:29 PM PDT by org.whodat (Auto unions bad: Machinists union good=Hypocrisy)
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To: fightinbluhen51

I’m contemptuous of this type of either-or extreme coming from one allegedly so brilliant and prescient that we trusted him with our economy et al. During this guy’s career, he became the master of convoluted conversational nuance in front of Congress, but now, in hindsight, the dynamics of the situation eluded him and could only have been addressed with either a feather duster or a sledgehammer. BS.

If the market is getting out of control, you don’t have to go on a binge of six or seven or eight rate rises until 3000 points come out of the DJIA before you let up, Fed- meeting-after-Fed meeting to quash it. Likewise, when it’s 1999 and the NAS has grown 85% in under a year or when it’s 2003-6 and the housing market has screamed 15% annualized for 4 straight years, both deltas being essentially unmatched in recorded history, IT’S A BUBBLE. When dentists and auto mechanics are quitting their jobs to become daytraders, IT’S A BUBBLE. The Euros, not they are to be emulated in particular, but they are much much more cautious wrt rate rises and drops.

In between smashing the guts out of the economy and injecting it with a near-fatal dose of methedrine has got to be some kind of middle ground of moderation. Greenspan’s theory that he knows what’s best, while insisting that none of these signs are readable in real time is a cruel joke. The Fed, for whatever good it has done in times of economic stress, has created periods of economic distress just as often, IMHO.

I maintain my view that these guys at the Fed and Tsy can talk a great and apparently wise line about what they want and what think should be done, but in the end, they have an allegiance to the banks that are the primary bond dealers and who are the biggest buyers and sellers of securities. There were plenty of people who raised the alarm about housing prices, and the transmission mechanism would have led straight to FNM/FRE had Gspan been motivated to look. He wasn’t. There are commonly available charts showing house prices going back 75 years that show a remarkably rigid relationship between incomes and home prices. And when that ratio gets out of whack, from nominally 3:1 to 10:1, it didn’t take a genius to know that things had gotten ridiculously out of control. His loyalty resided then and resides now with the bankers who had him on speed dial. I don’t have an issue with McDonalds being most concerned about their franchises and their franchisees. But whatever McD’s does, you don’t hear them expressing concern about Carl’s Jr or Burger King. Their motives are transparent.

46 posted on 05/01/2009 2:38:28 PM PDT by Attention Surplus Disorder (Mr. Bernanke, have you started working on your book about the second GREATER depression?")
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To: La Lydia; 1_Inch_Group; 2sheep; 2Trievers; 3AngelaD; 3pools; 3rdcanyon; 4Freedom; 4ourprogeny; ...


47 posted on 05/01/2009 5:51:55 PM PDT by HiJinx (~ Support Our Troops ~ ~)
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To: F15Eagle
Go away Alan. Haven’t you done enough damage?

Apparently he doesn't think so. And why are they always in service of the other side?

Jimmy Carter, Tony Bennett, even Nancy Reagan for cryin' out loud.

48 posted on 05/01/2009 5:56:37 PM PDT by skeeter (First they ignore you, then they laugh at you, then they fight you. Then you win - Mahatma Ghandi)
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To: La Lydia
to maintain the nation's economic vitality

Rip Van Greenspan just woke up.

Somebody tell him there's no economic vitality to maintain, it all croaked.

Mostly due to whackjobs like him...but him in particular.

49 posted on 05/01/2009 8:12:49 PM PDT by Regulator (Welcome to Zimbabwe! Now hand over your property)
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To: La Lydia

Right! I’m surprised this old fool has the nerve to crawl out from under is rock...he did SUCH a great job on our monetary system!


50 posted on 05/02/2009 10:16:40 AM PDT by AuntB (The right to vote in America: Blacks 1870; Women 1920; Native Americans 1925; Foreigners 2008)
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To: La Lydia
Exactly how rich did Greenspam get off his overseeing exuberance bubbles? Has he move over now to hedge fund buying and selling laborers?
51 posted on 05/02/2009 10:31:07 AM PDT by Just mythoughts (Bama and Company are reenacting the Pharaoh as told by Moses in Genesis!!!!!)
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To: La Lydia; All

The Terry Anderson Show...

Are you stupid ??? Are you mad ???

Terry says the illegal aliens should all go home..

Agree ??? Disagree ??? On the “fence” ????

Call Terry LIVE 9-10 PM PST at (866) 870-57521

LIVE stream at

52 posted on 05/03/2009 6:47:11 PM PDT by Tennessee Nana
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To: La Lydia

Didn’t I read somewhere that the majority of illegals ships the money the make HOME to family members in their home countries?!?!


53 posted on 05/04/2009 10:37:59 AM PDT by pillut48 (CJ in TX --"God help us all, and God help America!!" --my new mantra for the next 4 years)
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