Constructive gadfly
Published on September 18, 2007 By stevendedalus In Current Events

What is it with these guys who retire from Washington only to write books to insure their legacies? Despite the mystique and oracles on economics and the Federal Reserve, Greenspan felt he had to join the ranks of tell-all volumes. He praises most of the Presidents during his tenure but doesn’t think much of Bush W. For his profligate spending and running up deficits even though he approved of Bush’s tax cuts tearing the heart out of the tentative surplus. Strangely he liked Clinton and praised him for reducing the deficits, but signaled to Wall Street that too much surplus will cause the government to compete with investors. He also encouraged Clinton to sign onto NAFTA—a huge mistake. How do you figure this guy?


Comments
on Sep 19, 2007

Actually, he is a true Fiscal conservative.  IN every instance you quote, he is being true to himself.  I have no problems with his writings (his venture into foreign policy was foolhardy and I think detracts from his work).  But he also shows some myopia about the way the branches of government work.  Yes, slam Bush for his wasteful spending, and praise Clinton for his eliminating the debt.  But be honest about it.  The common factor in both of those was congress.  Clinton could not have done it without their opposition to his grandiose schemes (Hillary Health Care), nor could Bush without cooperation for his (DHS and Senior Pills).

I think he has the rants and praises down pretty well, just not ranting and praising all the right people.  He gets the most visible (as do most people that like to knee jerk), but not the power behind the man on stage.

IN all, I look at Paul Volcker as the best Chairman, but Greenspan impressed me as being very good as well.  Bernacke (sp) has not impressed me yet, but it will take time to see how effective he is.  I think the recent action of the fed was too big, and that the past actions (9 straight increases) were too many.  I hope I am shown to be wrong.

on Sep 19, 2007
How do you figure this guy?


He's just another person who writes a book, bashes Bush a bit so the media and the leftistis will pick it up, and then he gets a nice check from it. 

It seems anyone can make money when they write a book and bash Bush......well almost anybody.  LOL.
on Sep 19, 2007

It seems anyone can make money when they write a book and bash Bush......well almost anybody. .
Unfortunately you're right.

I think the recent action of the fed was too big, and that the past actions (9 straight increases) were too many.
I agree. Further Greenspan himself admitted he was caught up in a favorable era of economic growth.