Reply #43: Greenspan is a supply-side monitorist pig

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He's the most anti-worker Fed chair we've ever had. What gets me is why so many Democrats think this guy walks on water.

Greenspan has played THE major role in shifting wealth upward over the last two decades. He has held workers' wages down and deliberately kept interest rates artificially low, and credit easy to get. Low interest rates have also led to the US having the lowest saving rates of all the industrialized nations.

This has been a lethal combination for working people, who now have to borrow more $$ (at record-low rates) to make up for the wages they used to get. That's why we have record-breaking personal bankruptcies, record personal debt, and even greater wealth concentration in this country.

Easy credit is no substitute for better wages. You get to KEEP your wages-- you have to pay back credit, eventually. It's just another way that big corporate banking and finance companies transfer wealth up the food chain.

Reappointing Greenspan was Clinton's WORST mistake, IMO-- even worse than NAFTA. Greenspan is not only a partisan hack, he's a menace to working- and middle-class wage earners.