Friday, February 15, 2008

Alan Greenspan Disclaimer

Greenspan is in the news again. Now he thinks the US is almost in a recession.

From now on all news reports that even mention Greenspan's name must have the following opening paragraph.

Alan Greenspan GOT US IN THIS MESS. Greenspan confused asset inflation with economic growth. Greenspan also lowered interest rates to 0% after adjusting for inflation, meaning he encouraged a wave of reckless borrowing the likes of which the world has never seen. As a result, the financial system is currently choking on a ton of bad debt which is slowing the economy. Thanks Alan.