"No sympathy should be wasted on Alan Greenspan. He did what John Galt in Ayn Rand's Atlas Shrugged refused to do even at the point of a gun and under physical torture: he agreed to become an economic dictator of the country...
"Of all the economists who have advised various administrations over the last century, Greenspan had the least excuse for advocating statist economics.
"When he accepted the appointment by President Ronald Reagan in 1987 to become Chairman of the Federal Reserve, Greenspan "legitimatized" or sanctioned the idea that the government should "manage" the economy with "rational" interventions. Now he may see the true "flaw" in his "good intentions" and what those intentions have inexorably wrought: a greater destruction of freedom and wealth than he admits he could have imagined. "
- Edward Cline: Alan Greenspan vs. Capitalism
Thursday 30 October 2008
Quote of the day: On Greenspan
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"Greenspan",n; a dishonest old man who has recently confronted his own mortality and the fact that he has wasted his life working against his own values and interests; dishonourable beahiour; a sell-out; a man without integrity; one who obsfuscates excessigvely; a couterfeiter or fraudster; a lie repeated often; someone who smells bad; the walking dead.
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