Former Federal Reserve Chairman Alan Greenspan has a dire warning about the economy. During an exclusive interview on The FOX Business Network’s Cavuto: Coast to Coast he told Neil Cavuto the U.S. has “a global problem of a shortage in productivity growth” and is headed for a state of disaster.
“What the Fed does at this particular stage is less important than what the markets are doing. And what the markets are beginning to show us is acceleration in money supply for the first time in a very long time… We have a global problem of a shortage in productivity growth and it’s not only the United States but it’s pretty much around the world and it’s being caused by the fact that the populations everywhere in the Western world, for example, are aging and we are not committing enough of our resources to fund that,” he said.
Greenspan said the main thing confronting our country and the global economy is long-term economic growth.
“Our problem is not recession which is a short-term economic problem. I think you have a very profound long-term problem of economic growth at the time when the Western world, there is a very large migration from being a worker into being a of recipient of social benefits as it is called. And this is legally mandated in all of our countries. The size has got nothing to do with the rate of growth in economic activity, but if we stay down at the two percent economic growth in the United States and elsewhere, we’re not going to be able to fund what we are already legally obligated to spend,” he said.
http://www.foxbusiness.com/features/2016/05/26/greenspan-western-world-headed-for- state-disaster.html
(Video at source)
Poster Comment:
Greenspan also said we could be the next Venezuela. Greenspan flood the US with debt money and shut Brooksley Born down when she tried to regulate CDS. He will not blame the politicians and the banks for NAFTA and Debt Based money. We will be worse off than we were in 1933 as today we have 110 million minorities out to get whites.
Interesting theory. If it looks like Trump wins in November, the Bankers pull the plug and let the world go to hell with Obama at the helm. The country is fried when Trump takes office.