| Some major economic stories today...
- Among other troubling signs, you know it's not a normal day when the NYSE has to reassure investors their market will indeed be open today.
- Via Kevin Drum there was some amazing testimony by Alan Greenspan yesterday at Waxman's congressional hearing:
"I made a mistake in presuming that the self-interests of organizations, specifically banks and others, were such as that they were best capable of protecting their own shareholders and their equity in the firms," Mr. Greenspan said.
....Mr. Waxman pressed the former Fed chair to clarify his words. "In other words, you found that your view of the world, your ideology, was not right, it was not working," Mr. Waxman said.
"Absolutely, precisely," Mr. Greenspan replied. "You know, that's precisely the reason I was shocked, because I have been going for 40 years or more with very considerable evidence that it was working exceptionally well."
The damaging effects of conservative economic policies are crashing down upon. Spending $1,000,000,000,000 for a discretionary war, giving more and more money to the filthy rich, looking the other way when greed infects our economic stability--these are all horribly failed policies.
How about we give progressive economic policy a try? We certainly couldn't do any worse than the Bush-Capito economic era. |
