Monday, September 15, 2008

Greenspan joins the "nation of whiners"

Former Federal Reserve Chairman Alan Greenspan offered a woeful outlook of America's economic situation on Sunday, saying the crisis with the country's financial institutions was as dire as he had ever seen in his long career, and predicting that one or more of those institutions would likely collapse in the near future.

"Oh, by far," Greenspan said, when asked if the situation was the worst he had seen in his career. "There's no question that this is in the process of outstripping anything I've seen and it still is not resolved and still has a way to go and, indeed, it will continue to be a corrosive force until the price of homes in the United States stabilizes. That will induce a series of events around the globe which will stabilize the system."

As quoted from Huffington Post

Here is former Sen. Phil Gramm, a top economic adviser to presumptive GOP nominee John McCain calling the economic slowdown as "a mental recession" and called the United States “a nation of whiners.” A classic!

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