Thursday, March 17, 2011

Alan Greenspan: Stimulus Damaged Recovery

Alan Greenspan joins the chorus of those who believe the stimulus has hurt the recovery.

CNN Money reported:
Massive government intervention to save the economy is to blame for the lagging recovery, Former Federal Reserve Chairman Alan Greenspan said Tuesday.

Greenspan argued for less government intervention to get the recovery rolling and businesses investing in equipment and plants.

“What we need to do now is to calm down; let things move by themselves,” he said at a forum at the Council of Foreign Relations. “And indeed the rate of activism has decreased significantly and the ratio of capital flow has inched back up.”
H/T Gateway Pundit.

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