‘I’ve never seen anything like this before’ – Alan Greenspan

CNN/Anneken Tappe

stein cartoon image of foot about to meet banana peel an unintended consequence
“‘I’m not convinced at all that we have enough information to know how to deal with this type of problem,’ Greenspan said, adding that there could be unintended consequences for society.”

USAGOLD note: In this article, Greenspan signals he may be amenable to some kind of federal relief package which, of course, would add significantly to the national debt – something to which he has been anathema for most of his career. It would be interesting to hear more about how he reconciles his old beliefs with the new abnormal, I.e., whether he sees it as acceptable to run huge deficits and finance them with printing press money under these circumstances.

Repost from 11-19-2020


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