I think all we can do is look at the future and that past when we try to figure out what is happening in this economy. Economics is man made science yet it is hard to predict and control.
The housing and financial markets with the easy credit terms (0%) as well as other fed policies were a great Ponzi scheme waiting to collapse.
Is this current economy caused by Alan Greenspan's heading of the FOMC and his mis-judgement of how the economy would respond to his policies or experiments?
When you have too many people cheating the system, the abuse is going to be difficult to predict results or even maintain any level of control. Sooner or later, it leads to a disaster.
Alan Greenspan understood this. Improper regulatory structure fails to protect the system, not due to his method of handling it.
Alan Greenspan knew there was a problem in the housing market, but no one wanted hear what he had to say, when he noticed it, then it got to be too late, but watch where the pieces fell.
The people doing their job, at the regulatory agencies, all of them, turning a blind eye to the abuse, for whatever reason.
You want to better the Economy- create more small businesses. More independent business owners equals more taxes, licenses and a variety of other things. Just a thought.
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