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Alan Greenspan Says Too Much Government Is Preventing Economic Recovery

Mar. 4, 2011 10:15am Mike Opelka

One of the greatest financial minds of our time says that too much government is standing in the way of economic recovery, the story was posted on Bloomberg.com:

Former Federal Reserve Chairman Alan Greenspan said a surge in U.S. government “activism,” including fiscal stimulus, housing subsidies and new regulations, is holding back the economic recovery.

The former Fed Chairman added:

“Much intervention turns out to hobble markets rather than enhancing them. Any withdrawal of action to allow the economy to heal could restore some, or much, of the dynamic of the pre-crisis decade, without its imbalances.”

Americans appear to be craving what the former chairman is talking about. According to a recent NBC News/WSJ poll, the people want government priorities focused on jobs and spending.

Oddly enough, over at MSNBC where Alan Greenspan’s wife Andrea Mitchell works, almost every daytime program spent time spinning the results of this poll to make it seem as if the country was asking for more spending and more government.

Greenspan’s thinking could offer answers to the top two priorities of the American people.

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Comments (127)

Country
Posted on March 4, 2011 at 11:45am
Oh the wise one. He is the one who started this whole mess by lowering interest rates to begin with while GW Bush was telling us everyone can own thier own (nice) home.

http://www.youtube.com/watch?v=GkAtUq0OJ68

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- moonpeace
  Posted on March 4, 2011 at 1:08pm
  Sorry, but it took many more than Bush and Greenspan to cause these problems. From both parties too.
  
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Stoic one
Posted on March 4, 2011 at 11:42am
since i have been lurking on the net (unemployed as i am)…i think i see a shift (albeit slight) towards criticizing the exec branch by mainstream media….vultures and rats that they are….

when a fatal flaw is found they will pull obama down so fast it will be a flash

yea i know… wishful thinking

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9thCommandment
Posted on March 4, 2011 at 11:28am
Just trying to cover his tracks & legacy.

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TRONINTHEMORNING
Posted on March 4, 2011 at 11:28am
Yeah, what was the rush in getting out the facts, Mr. G? By the way; happy b-day on Sunday Mr. G.

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Gonzo
Posted on March 4, 2011 at 11:28am
I see health care came in third in that poll. Since it (purposely) doesn’t define what aspect of health care, I assume that it’s mostly people that want Obamacare REPEALED not additional benefits added..

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Realist
Posted on March 4, 2011 at 11:24am
Although I agree with Greenspan on to much government intervention when is he going to go away ???

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TexasProgressive
Posted on March 4, 2011 at 11:19am
If Greenspan says it you know it can’t be true.

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hightide
Posted on March 4, 2011 at 11:19am
Duh…

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psst
Posted on March 4, 2011 at 11:16am
Off Topic.
C’mon Blaze. Where IS this Story? You’re behind the times.

http://azstarnet.com/news/local/crime/article_681d29cf-845a-5aea-9f34-3837d70b8a31.html
Border Patrol agents shot beanbags at a group of suspected bandits before the men returned fire during a confrontation in a remote canyon, killing agent Brian Terry with a single gunshot, records show.

Bean Bags?
Now I’ve heard it all.
But i’ve gott get to work.

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- kryptonite
  Posted on March 4, 2011 at 11:53am
  He’ll probably get a post-mortem medal for restraint. It makes my blood boil.
  
  Report this comment
- moonpeace
  Posted on March 4, 2011 at 1:04pm
  Hey psst! The BLAZE doesn’t need to do every story. That’s what you are for. Good job! The part about the bean bags was left out of the news I read. Obama doesn’t even want us carrying guns in Mexico.
  
  Report this comment
DashRipRock
Posted on March 4, 2011 at 11:13am
A walk through the ocean of the Blaze’s knowledge of

ECONOMICS

would scarcely get one’s feet wet.

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- Showtime
  Posted on March 4, 2011 at 3:32pm
  Where DO you come up with your wit?
  You absolutely crack me up!
  
  Report this comment
moonpeace
Posted on March 4, 2011 at 11:13am
I honestly did not know Greespan was married to Andrea Mitchell. Talk about sleeping with the enemy. Whoa, I better leave it at that as far as the lady goes because, as my momma said, “Son, if you don’t have something nice to say about someone don’t say anything at all. God, oh but it is so tempting that it hurts.

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- Stoic one
  Posted on March 4, 2011 at 11:31am
  that was a god movie…with Julia Roberts.
  
  Report this comment
- Stoic one
  Posted on March 4, 2011 at 11:31am
  Sleeping with the Enemy
  
  Report this comment
- Showtime
  Posted on March 4, 2011 at 3:16pm
  I didn’t know that she’s married to Greenspan, either, but I did know that she’s Ted Koppel’s daughter.
  
  Report this comment
- Showtime
  Posted on March 4, 2011 at 3:25pm
  Well, I stand corrected. Wrong Andrea. Koppel’s daughter was born in 1963.
  
  Report this comment
48
Posted on March 4, 2011 at 11:12am
Alan did you have a nice knap?

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glennisright.com
Posted on March 4, 2011 at 11:11am
Thanks Alan. Now tell Andrea to report it so that Fox and theblaze.com aren’t the only ones reporting it.

http://www.glennisright.com

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- ny2fl2009
  Posted on March 4, 2011 at 11:15am
  Right there with you!
  
  Report this comment
SUNBURST
Posted on March 4, 2011 at 11:08am
Ya think??

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338lapua
Posted on March 4, 2011 at 10:59am
I propose putting America on “The Garlic Standard”. Standard value per unit of garlic, wealth is attainable for the common man, and the central bank would be MORTALLY FRIGHTENING to VAMPIRES LIKE GREENSPAN!!!!

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- OneFunR6
  Posted on March 4, 2011 at 10:12pm
  I like this idea a lot!
  
  should make my golden ammo, err make that gold and ammo,…
  
  that much more valuable…… rof!
  
  Report this comment
ONE PIECE
Posted on March 4, 2011 at 10:58am
Why are some of the smartest people have no common sense? Things like this we have known for a long time. Big GOV=Job lose & FREEDOM!!

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Lucifers Hammer
Posted on March 4, 2011 at 10:53am
Duhhhh! Government preventing economic recovery….ya think so? Don’t forget….Obama and progressives want to destroy the economy…so in a sense, Greenspan told BO he’s right on course.

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- 338lapua
  Posted on March 4, 2011 at 10:54am
  Excellent point, like a report card.
  
  Report this comment
Guitar Master
Posted on March 4, 2011 at 10:52am
Now here is a guy that was the driving force behind the U.S. financial collapse and the American public is supposed to listen what he has to say? You’ve got to be kidding me.

Alan Greenspan has NO credibility at all and along with the rest of his pin-striped bandits, should crawl back in their holes and stay there.

Common BLAZE, can’t you find significant stories to put on your site?

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psst
Posted on March 4, 2011 at 10:50am
Seemingly at death’s door, Geez, he’s gotta be at least 110 yrs old.
Who does he thunk he is? Moses?
So old Alan wants US to stop spending so much “munny” and this will shepard US into the land of ‘mulk and hunny” Ohh. Alan!!. Ol’ Moses never got to cross into the land of mulk and hunny.
This IS funny as hell. here is old ancient Alan, former head of the Illegal Fed Reserve worried about US overspending.
Isn’t the fed reserve the thingy that creates [funny munny out of whole cloth?

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ldpeters
Posted on March 4, 2011 at 10:48am
I respect Mr. Greenspan but my question is this: What took him so long to figure this out??

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- Ken
  Posted on March 4, 2011 at 11:49am
  Because he’s old and slow, and just made friends with “the little blue pill!”
  
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- Showtime
  Posted on March 4, 2011 at 12:40pm
  his might give us a clue – from Wikipedia:
  
  “Greenspan (born 1926) is an accomplished clarinet and saxophone player who played with Stan Getz when they were in school together. He studied clarinet at the Juilliard School from 1943 to 1944, when he dropped out to join a professional jazz band.[3] He played jazz saxophone along with future Richard Nixon acting Special Counsel Leonard Garment in Woody Herman’s band. He returned to college in 1945, attending New York University (NYU), where he received a B.S. in economics summa *** laude in 1948[4] and an M.A. in economics in 1950.[5]“
  
  Report this comment
- cbrown
  Posted on March 4, 2011 at 1:04pm
  Respect Greenspan, you got to be kidding? When Wallstreet was cheating he was sleeping. At the end he was proven incompetent and he is trying to redeem himself.
  
  Report this comment
hopnmad
Posted on March 4, 2011 at 10:47am
well…duh

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Vixvenom
Posted on March 4, 2011 at 10:46am
Latest catch phrase just read on Al Jazeera……Global Justice…..keep an ear open for this one. I’m thinking you’ll probably hear it again……

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- 338lapua
  Posted on March 4, 2011 at 10:53am
  Noted! MSNBC cannot be far behind.
  
  Report this comment
Treaty
Posted on March 4, 2011 at 10:46am
Thatnks for pointing that out Captain Obvious!

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- bobodu
  Posted on March 5, 2011 at 8:01am
  What isn’t so obvious is “Why isn’t Greenspan in prison?”
  
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Stoic one
Posted on March 4, 2011 at 10:42am
Oddly enough, over at MSNBC where Alan Greenspan’s wife Andrea Mitchell works, almost every daytime program spent time spinning the results of this poll to make it seem as if the country was asking for more spending and more government

are these people getting gov’t funding as well?

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- 338lapua
  Posted on March 4, 2011 at 10:45am
  MSNBC…..emulating Al Jazeera, one day at a time.
  
  Report this comment
hauschild
Posted on March 4, 2011 at 10:41am
I’m beginning to think this dude’s a major dolt.

He and John Wayne McCain could get awards for being the best Monday Morning Quarterbacks.

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- 338lapua
  Posted on March 4, 2011 at 10:43am
  Ha Ha HA!! Add Geithner and I am IN!
  
  Report this comment
- Stuck_in_CA
  Posted on March 4, 2011 at 10:47am
  Ha! Look who’s calling the kettle black.
  Greenschmuck should take responsibility for his actions, and in damaging our economic system (maybe) mortally.
- DashRipRock
  Posted on March 4, 2011 at 10:53am
  Stuck
  
  I never knew Greenspan was in congress.
  
  I thought he just made monetary policy
  
  NOT FISCAL POLICY
  
  Report this comment
- TSUNAMI-22
  Posted on March 4, 2011 at 10:56am
  Greenspan is one of the major reasons the country is where it is.
  
  Nice CYA strategy. Not.
  
  Report this comment
- wipinitboss
  Posted on March 4, 2011 at 11:00am
  This same maroon also said “The FED knows EXACTLY where the risks are”
  
  It’s called a mirror.
  
  Report this comment
- leftiesaredangerous
  Posted on March 4, 2011 at 11:05am
  Gee Alan, really? Do ya think?
  
  Report this comment
- gman46
  Posted on March 4, 2011 at 11:06am
  Only damage to our economic system is through Government, if there is a bubble in the economy that is sure bet that Government created it, since free markets typically do not.
  
  Report this comment
- Snowleopard {gallery of cat folks}
  Posted on March 4, 2011 at 11:21am
  We do indeed need to reign in this administration and the out of control government; the people of the nation need to keep the pressure up on their represenatvies and senators to make the changes to save the nation, and then make sure they understand the fact that they work for us, not the other way around.
  
  Greenspan may be one of the biggest dolts to aid in the destruction of the economy, yet in the area of his declaring the beaurocracy is getting in the way of the recovery is very true; just as the agenda of the administration wants it to be for collapsing the system.
  
  And then there is this part of MSNBC:
  
  Oddly enough, over at MSNBC where Alan Greenspan’s wife Andrea Mitchell works, almost every daytime program spent time spinning the results of this poll to make it seem as if the country was asking for more spending and more government.
  
  Why should it be considered odd that the leftist and progressives propaganda machine not press for more government and more spending to lead to a quickening of the destruction of the nation and the enslavement of the people who are caught up in the destruction.
  
  Report this comment
- Ironmaan
  Posted on March 4, 2011 at 11:31am
  He’s a bit late, but he is correct. Government is absolutely getting in the way.
  http://guerillatics.com
  
  Report this comment
- Miguelito
  Posted on March 4, 2011 at 11:38am
  Too much government..you think! Duh
  
  Report this comment
- rodamaa
  Posted on March 4, 2011 at 12:01pm
  You think!
  
  Report this comment
- Showtime
  Posted on March 4, 2011 at 12:34pm
  Greenspan needs to go back to sleep. The conservatives know what’s going on!
  
  @DashRipRock ~
  
  Could you hold your comments until AFTER I potty?
  
  Report this comment
- Cobra Blue
  Posted on March 4, 2011 at 12:34pm
  Dah! Ya think.
  
  Report this comment
- Sinista Mace
  Posted on March 4, 2011 at 12:59pm
  Why did this hypocrit Greenspan crawl from under his toadstool to say anything…
  
  HE’S an ARSONIST too!
  
  Along with Geithner, Bernanke, Chris Dodd, I don’t even want to waste my breath naming these saboteurs. I’m gonna have to brush my teeth already.
  
  You can tell who they are by the stench that lingers around the proximity of their corrupt flesh.
  
  Report this comment
- iheartgeorgewashington
  Posted on March 4, 2011 at 1:01pm
  “…a surge in U.S. government activism, including fiscal stimulus, housing subsidies and new regulations, is holding back the economic Much intervention turns out to hobble markets rather than enhancing them. Any withdrawal of action to allow the economy to heal could restore some, or much, of the dynamic of the pre-crisis decade, without its imbalances.”
  
  —Gee, ya think?!?!? DOINK!
  
  Report this comment
- A Doctors Labor Is Not My Right
  Posted on March 4, 2011 at 1:32pm
  “Oddly enough, over at MSNBC where Alan Greenspan’s wife Andrea Mitchell works, almost every daytime program spent time spinning the results of this poll to make it seem as if the country was asking for more spending and more government.”
  
  When you include “Job creation and economic growth” among the list of priorities that voters can choose from for the Federal government to have as a priority, it can very much mean that the voters want more government intervention in that area.
  
  What is not apparent is whether the voters intended their vote to mean that these areas are merely important for government to consider, but they should do so by REMOVING their involvement, or whether they in fact want government to, for example, create jobs for them (which would be a tragic mistake).
  
  As I understand the poll, three of the options don’t belong, since they aren’t the concern of the Federal government: jobs, health care, and energy and gas.
  
  And while I would consider these three items extremely important for the Federal government to consider, these are all private sector concerns, and the government needs to stay the hell out of this issue – THAT’S the role of government pertaining to these three issues.
  
  Report this comment
- Mikeyyy
  Posted on March 4, 2011 at 1:43pm
  um, im pretty sure he knows what he’s talking about.
  
  Report this comment
- thestimulusmonkey
  Posted on March 4, 2011 at 1:45pm
  Bank of America, Goldman Sachs, AIG, Merril Lynch, and others would not exist today were in not for the US government and the Federal Reserve, and this dude has the nerve to talk about the “free market”.
  
  Report this comment
- watchtheotherhand
  Posted on March 4, 2011 at 2:14pm
  This would be like Hitler declaring intolerance and racism was destroying the fabric of German culture !!!!!! Hilarious
  
  Report this comment
- SonOfaCommunist
  Posted on March 4, 2011 at 2:28pm
  THIS GUY IS A FEAKIN’ GENIUS!!!! just a bit sarcastic in that statement.
  
  Listen to the words of economic poetry flowing like rivers of beer and wine come out this mans mouth.
  
  Dude – we didn’t need YOU to tell us this!!!
  
  Report this comment
- HUGGINGMYBABIES
  Posted on March 4, 2011 at 3:56pm
  Um, duh?!??
  
  Report this comment
- old white guy
  Posted on March 4, 2011 at 4:22pm
  isn’t this the joker who gave the government the ability to run amazing deficites. dementia is a terrrible thing.
  
  Report this comment
- abc
  Posted on March 4, 2011 at 5:13pm
  Agreed. The Blaze is so funny. When he said that we should perhaps consider raising taxes to close the budget deficit, conservatives went nuts on this guy. Now, he’s saying we should cut regulations and they call him one of the greatest financial minds around. Nice that the Blaze is principled on its evaluations rather than simply pushing a partisan viewpoint all the time…
  
  Greenspan is a major reason why we had successive bubble bursts in the dot-coms and housing markets, with a major stock market crash each time as well. He has drunk too much of the Ayn Rand Kool-Aid, which makes you unable to remember how badly those ideololgically driven policies fare in real life. Greenspan ought to lay low for awhile, since most economists recognize that the levels of regulation today are actually less than they were before the Carter and Reagan administrations, when growth was far higher than it is now. Those economists also recognize that it is a lack of demand from consumers, who are scared about their employment prospects and deleveraging after years of binging on the cheap debt that his loose monetary policy encouraged, that is causing economic activity to remain tepid. The levels of regulation are actually lower now than they were under Clinton, when growth was not a problem. I think Greenspan has totally lost credibility.
  
  Report this comment
- silentwatcher
  Posted on March 4, 2011 at 5:26pm
  Did I wake up in the twilight zone today? Have we not been complaining that the government is too big and too intrusive? Is that not what Greenspan was saying? WTF……
  
  Yes, our gov’t is too big and too intrusive in our lives, Greenspan. We already knew that, however, our problem is how to make the dunce in charge of the country listen to that and comply with the majority views.
  
  Report this comment
- gman46
  Posted on March 4, 2011 at 5:37pm
  @ABC,
  I think most of here would prefer Rand over some socialist nightmare, now socialism is the one thing that has never worked, and canl never work. If thats your cup of TEA maybe going to the “Huf Po” is more for you.
  
  Report this comment
- BoiseBaked
  Posted on March 4, 2011 at 11:32pm
  “Too Much Government Is Preventing Economic Recovery.” Yah think?
  
  Report this comment
- jackrorabbit
  Posted on March 4, 2011 at 11:44pm
  Really Greenspan? Wow, all that education and that is what you come up with? It’s the debt stupid!
  
  Report this comment
- avenger
  Posted on March 5, 2011 at 7:30am
  hey alan…when are you going to expose the greatest scam (the federal reserve) in the history of mankind ?
  
  Report this comment
- GeoBible
  Posted on March 5, 2011 at 12:54pm
  If we clean up the misuse of welfare/public aid and all the lazy people geting aid and food stamps that do not deserve it and come down strong on drug dealers which is crippleing our people everywhere. Hang them when proven guilty and same goes for any crooked politics.
  Hang them it would be a good start.
  
  Report this comment
- clrkrd
  Posted on March 6, 2011 at 6:25pm
  @ABC…..if you would actually read the comments here, most people are not praising him. We are congratulating him on finally figuring it out. unfortunately, he helped create this mess. Welcome to the party
  
  Report this comment

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