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.