Greenspan Speaks on US and Global Economic Problems

It’s refreshing Greenspan focuses on the need for savings (especially long-term investments) and worker productivity, which seems so obvious yet so many today seem to claim any near-term consumption, any spending, will miraculously result in growth. It is investment and research that grow an economy, long-term.

Greenspan also mentions the current investment environment is unpredictable, resulting in greater investment risk especially for longer-term investments.

H/T: ContraCorner

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One thought on “Greenspan Speaks on US and Global Economic Problems

  1. weavercht Post author

    Great article on Warren Buffett’s hypocrisy, how it works so well for him:

    The trick is to be rigorous while seeming sentimental, to drive a hard bargain by looking like a teddy bear.

    And being a beloved octogenarian/toddler pays off: He has instant and total name recognition, and engenders fond feelings not only from potential sellers but also from regulators and the public. If you’re a beloved icon of financial probity and all-American pluck, your halo is valuable to embattled banks, and you can sell it to them at a steep price. You can minimize taxes with frequent cash-rich split-offs, indulge in leverage and derivatives, and fund a famous American company’s tax inversion into Canada, without raising too many eyebrows. It’s Warren Buffett, come on, give him a break, he eats ice cream for breakfast.

    Buffett is also a Democrat who speaks out on the rich not paying their fair share of taxes. He does everything he can to keep up appearances – and to take advantage of said appearances.

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