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Euro 'breaking down': Greenspan
France 24 ^ | 8/23/2011 | AFP

Posted on 08/23/2011 12:36:14 PM PDT by bruinbirdman

The euro is breaking down and Europe's debt crisis is holding back the US economy, former US Federal Reserve chairman Alan Greenspan said Tuesday.

"The euro is breaking down," the ex-US central bank chief told a Washington forum, according to Dow Jones Newswires.

"The reason we're so sluggish is the level of uncertainty," he said at the Innovation Nation Forum . . .

(Excerpt) Read more at france24.com ...


TOPICS: Business/Economy; Crime/Corruption; Foreign Affairs; News/Current Events
KEYWORDS:

1 posted on 08/23/2011 12:36:17 PM PDT by bruinbirdman
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To: bruinbirdman
So, which is the cause and which is the effect?

I'm convinced that the U.S. fiscal situation is also holding back the European economy.

2 posted on 08/23/2011 12:38:03 PM PDT by Real Cynic No More (The mighty zero, obama,does not warrant the respect necessary for his name to be capitalized.)
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To: bruinbirdman

Incredible comment - gives thrust to the “eurobond” argument, which I warned about 13 years ago, still quite wet behind the ears.


3 posted on 08/23/2011 12:38:38 PM PDT by the invisib1e hand
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To: bruinbirdman

lol

they finally found someone else to blame besides Bush for their failures!


4 posted on 08/23/2011 12:39:40 PM PDT by TexasFreeper2009 (Obama = Epic Fail)
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To: Real Cynic No More
It's all one big balancing act, and the obama administration has upset that balance, with unintended consequences.

The man has no sense of situational awareness whatsoever.

5 posted on 08/23/2011 12:39:51 PM PDT by Real Cynic No More (The mighty zero, obama,does not warrant the respect necessary for his name to be capitalized.)
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To: bruinbirdman

Funny, sending millions of our jobs overseas, is never mentioned as problematic.


6 posted on 08/23/2011 12:40:59 PM PDT by DoughtyOne (McCain 5 yrs Left/1 yr right "BAD!" - Republicans 3 yrs Right 1 year Left to elect RINOs. "Good?")
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To: bruinbirdman

>> The euro is breaking down and Europe’s debt crisis is holding back the US economy

Thank You, Mr. Bubble-Head, for reminding us of the role *you* played in this mess.


7 posted on 08/23/2011 12:41:29 PM PDT by Nervous Tick (Trust in God, but row away from the rocks!)
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To: bruinbirdman

Alan the fossil is shilling for 0bama. Next he’ll blame locusts..

LOCUSTS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


8 posted on 08/23/2011 12:41:38 PM PDT by SueRae (I can see November 2012 from my HOUSE!!!!!!!!)
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To: the invisib1e hand
How about this for an incredible comment:

Greenspan also said he did not expect the United States to fall back into recession, though the odds of it have increased.

HAH!

9 posted on 08/23/2011 12:44:51 PM PDT by Former Proud Canadian (We .. have a purpose .. no longer to please every dictator with a vote at the UN. PM Harper)
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To: bruinbirdman

Alan Greenspan on why the economy isn’t Obama’s fault...

http://www.youtube.com/watch?v=JFvujknrBuE


10 posted on 08/23/2011 12:46:55 PM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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To: Real Cynic No More
So, which is the cause and which is the effect? I'm convinced that the U.S. fiscal situation is also holding back the European economy.

The Free World has no Leader.

Fix that cause and positive effects follow.

11 posted on 08/23/2011 12:49:23 PM PDT by Justice
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To: Former Proud Canadian

Maybe he meant rise up from depression.


12 posted on 08/23/2011 12:54:51 PM PDT by boomop1
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To: bruinbirdman

I think one economist has referred to what is happening as finding its intrinsic value.


13 posted on 08/23/2011 12:56:08 PM PDT by Jonty30
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To: SueRae
Exactly, its the tsunami, its the Euro breaking down, its the caribou in Manitoba, its bad luck, its evil Republicans — anybody but Obama.
14 posted on 08/23/2011 12:56:23 PM PDT by Obadiah (November 6, 2012 -- The date of the next great American Revolution!)
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To: bruinbirdman

Many governments have issued more bonds, i.e., borrowed more, relative to their gdp, than is practical and wise. The ability of these governments to pay back the principal through taxation, therefore, is only realistic if they contract the scope of their government and thereby promote private enterprise growth. This will halt the accumulation of new debt and allow for healthy tax revenue. But as government spending and regulation continue unabated, this is keeping the debt pile growing, and the payoff point - even with correction actions being taken - is being pushed out ever farther.

These bonds are owned as assets by the private sector. If the principal can’t be repaid, and all these governments are merely issuing new debt to pay old, that is the definition of a ponzi scheme.

Borrow and spend must stop soon.


15 posted on 08/23/2011 1:13:26 PM PDT by PieterCasparzen (We need to fix things ourselves)
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To: DoughtyOne
Funny, sending millions of our jobs overseas, is never mentioned as problematic.

Well remember this is the same man who thought more H-1B's would solve the housing crisis.

"The most effective initiative, though politically difficult, would be a major expansion in quotas for skilled immigrants," he said.
16 posted on 08/23/2011 1:25:58 PM PDT by algernonpj (He who pays the piper . . .)
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To: the invisib1e hand
which I warned about 13 years ago

That was you on the corner with the "The Euro Will Breakdown In 13 Years" sign? How very prescient!

17 posted on 08/23/2011 1:43:53 PM PDT by Sawdring
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To: PieterCasparzen

Oh don’t you worry.

It will stop very soon, and very sudden.

Sorta wall-like.


18 posted on 08/23/2011 1:44:16 PM PDT by Jonty30
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To: Sawdring
That was you on the corner with the "The Euro Will Breakdown In 13 Years" sign? How very prescient!

Actually, no, it was the "euro will drive up interest rates by introducing euro denominated bonds which will compete with US treasuries for capital" sign. It was a sandwich board, needless to say.

19 posted on 08/23/2011 1:49:18 PM PDT by the invisib1e hand
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Comment #20 Removed by Moderator

To: algernonpj

Those people just don’t think the way we do, if at all.


21 posted on 08/23/2011 3:34:51 PM PDT by DoughtyOne (McCain 5 yrs Left/1 yr right "BAD!" - Republicans 3 yrs Right 1 year Left to elect RINOs. "Good?")
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To: DoughtyOne
Those people just don’t think the way we do, if at all.

That's for certain.

If you haven't seen them here are articles you might be interested in:

America's Ruling Class -- And the Perils of Revolution
They
Immigration and Usurpation
Government Amateurs Vs Government Professionals
22 posted on 08/24/2011 5:37:26 AM PDT by algernonpj (He who pays the piper . . .)
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To: algernonpj

Thanks for the links.


23 posted on 08/24/2011 8:42:23 AM PDT by DoughtyOne (McCain 5 yrs Left/1 yr right "BAD!" - Republicans 3 yrs Right 1 year Left to elect RINOs. "Good?")
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