Greenspan says unemployment will top 10 percentWhy are we still listening to this guy?
By DOUGLASS K. DANIEL, Associated Press
4 Oct 2009
WASHINGTON – Former Federal Reserve Chairman Alan Greenspan predicted on Sunday that the jobless rate will pass 10 percent and stay there for a while, and a second stimulus plan is not needed now.
Recall: this is the same genius who denied a housing bubble, and stated that even if there were a bubble its effects would be only local - nothing to worry about!
He just LOVED deregulating the financial industry.
... and, last but not least, professed nothing but praise for the self-correcting magic of the market!
(He later recanted that last bit - acknowledging he'd overestimated the rationality of market-based self-interest.)
So, again: Why do we care what demi-god Greenspan thinks???
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