‘Alan Greenspan really made a mess of all this. He pushed out too much liquidity at the wrong time. He supported the tax cut in 2001, which is the beginning of these problems. He encouraged people to take out variable-rate mortgages.’
— Joseph Stiglitz, the Nobel Prize winner in economics,
Finally, the mainstream financial world is seeing what a charlatan Greenspan was.
The question now is, will there be a recession? Black Friday (the shopping day after Thanksgiving, could be the tell.
Krugman’s been saying this for years.