Greenspan on the Economy: Double Ouch

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greenspan.jpg You have to have an online subscription to the Financial Times to read Alan Greenspan’s latest take on the American economy. But even without a subscription, you can read the first line:

The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the second world war.

Commenting on the economy recently, billionaire/media tycoon Sam Zell said, “Obviously what we have going on is an attempt to create a self-fulfilling prophecy…. We have two Democratic candidates who are vying with each other to describe the economic situation worse.” Somebody tell him that Greenspan, something of an authority, sees things the way HRC and BHO do.

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FACT:

Mother Jones was founded as a nonprofit in 1976 because we knew corporations and the wealthy wouldn't fund the type of hard-hitting journalism we set out to do.

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2021 demands.

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