Greenspan: Its Gen-X's fault they're out of work

Discussion in 'Economy' started by Kuros, Jul 16, 2011.

  1. Kuros
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    Kuros BANNED

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    Alan Greenspan: It's the Gen-Xers Fault They're Out of Work

    You all remember Alan Greenspan as the worst Fed Chairman in modern history, and architect of the housing bubble. Well, since then he has admitted that the core philosophy of the Chicago School concerning deregulation was dead wrong.

    [ame="http://www.youtube.com/watch?v=bAH-o7oEiyY&feature=related"]Greenspan chastened[/ame]

    And now he returns to chastise Gen-X!

    Nevermind that 25-year-olds are not actually Gen-Xers but millenials. Nevermind that average income remains a poor stand-in for productivity (as if workers controlled their salaries, especially in an employer's market). Nevermind that the US is handicapped in international match-ups because of the vast numbers of non-native English speakers within its public schools. Nevermind that baby boomers are staying at work longer and aren't being replaced at all, and that's the crux of the problem.

    Alan Greenspan will not depart from the corporate-financial elite's rhetoric, the shame of and error of his deregulatory ideology be damned.
     
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    Last edited: Jul 16, 2011
  2. Mad Scientist
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    Mad Scientist Feels Good!

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    The Gangsters confess to their crimes and then ask you; "So what are you gonna' do about it?". Looks like Americans aren't gonna' do anything.
     
  3. Big Fitz
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    ...yet.
     
  4. Big Fitz
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    I love it. :rolleyes: The boomers have been involved in the rearing of two educationally 'sub standard' generations and their excuse is "not our fault they're stupid and foreigners."

    But the boomers (and himself) are blameless in his eyes.
     
  5. Lovebears65
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    Lovebears65 Gold Member

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    Well, GreeDspan if there were jobs to be had maybe they would be working.. My 3 sons age 23, 20 and 16. Both older boys work but min wage jobs. Both go to college full time as well but they cant leave the nest until they can support their self. My youngest is serious about joining the military for 4 years then go off to college .. He is a straight A student in all advanced classes. I told him to try to get into a military college then the service. HE wants to go into the airforce.. This day in age there are A lot of adult children still living with their parents because there are NO jobs that can support them to live on their own!!
     
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  6. editec
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    editec Mr. Forgot-it-All

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    We have for the last 40 or more years been systematically destroying the kind of economy that supports a middle class, Greenspan was an insturmental player in that destruction and then that wanker blames our CHILDREN?!?!

    Oh, seriously, it is time for a revolution.

    The only problem is that the revolution will solve nothing since there is no way in hell that the bastards are going to go up against the wall.

    If anything we'd find ourselves in a civil war where one set of victims is set against the other set of victims and both sets of dupes would be lead by the very same bastards that got us into this fix in the first place.
     
  7. Big Fitz
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    If we go the way of the Wiemar Republic, you shouldn't think civil war like we had 150 years ago... you should think more like French Revolution. THEN those parties got the chop, but real monsters like Robespierre and Napoleon got the power.

    That is what you should be afraid of.
     
  8. iamwhatiseem
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    iamwhatiseem Gold Member

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    Alan Greenspan will go down in history as the architect of the near downfall of America.
    It was Alan Greenspan that said:

    "Excess debt is good when looking long term"

    "I don't know where the stock market is going, but I will that if it continues higher, this will do more to stimulate the economy than anything we've been talking about today or anything anybody else is talking about."

    "I believe that the general growth has occurred due to an underlying structure of markets that are dramatically, or should I say fully hedged" (2000)

    "Improvements in lending practices driven by information technology has enabled lenders to reach out to households with previously unrecognized borrowing capacities." ----- This quote is perhaps the single most DAMNING statement by Greenspan in is entire career. And is THE key reason for the mortgage bubble.
     
  9. waltky
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    waltky Wise ol' monkey Supporting Member

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    Goin' to college ain't what its cracked up to be...
    :eusa_eh:
    The higher education bubble has popped
    August 10, 2011 - Traditionally, Americans have firmly believed in two core investments: college and home ownership. Then the housing bubble popped. Is education next?
     
  10. william the wie
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    william the wie Gold Member

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    Just an observation about the competence of journalists and economists. The youngest boomers will turn 47 by the end of this year. The people born 1965-81-84 (there is some debate about the endpoint) are gen-X. 25 years ago was 1986, Gen-Y or Millenials, the people being referenced are only Gen-X by people who don't bother to check their facts.
     

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