{"id":189681,"date":"2010-02-23T21:47:00","date_gmt":"2010-02-24T02:47:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/02\/23\/greenspan-calls-meltdown-greatest-financial-crisis\/"},"modified":"2010-02-23T21:47:00","modified_gmt":"2010-02-24T02:47:00","slug":"greenspan-calls-meltdown-greatest-financial-crisis","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/02\/23\/greenspan-calls-meltdown-greatest-financial-crisis\/","title":{"rendered":"Greenspan Calls Meltdown &#8220;Greatest Financial Crisis&#8221;"},"content":{"rendered":"<p>Normally, I don&#8217;t listen to Alan Greenspan, but when he says the the financial meltdown is <a href=\"http:\/\/www.reuters.com\/article\/idUSTRE61M4B120100223\">worse than the Great Depression<\/a>, it bears noting:<\/p>\n<blockquote style=\"color: rgb(0, 0, 153);\"><p>Former Federal Reserve Chairman Alan Greenspan said on Tuesday the U.S. economic recovery was &#8216;extremely unbalanced,&#8217; driven largely by high earners benefiting from recovering stock markets and large corporations.<\/p>\n<p>Small businesses and the jobless are still suffering from the aftermath of a credit crunch that was &#8216;by far the greatest financial crisis, globally, ever&#8217; &#8212; <span style=\"font-weight: bold;\"><span style=\"font-variant: small-caps;\">including the 1930s Great Depression<\/span><\/span>, said Greenspan in an address to a Credit Union National Association conference.<\/p><\/blockquote>\n<p>(<span style=\"font-style: italic;\">emphasis mine<\/span>)<\/p>\n<p>While I have very little confidence in judgment of Andrea Mitchell&#8217;s husband, the time that any economist of any note says &#8220;worse than the Great Depression,&#8221; it&#8217;s time to think about why we aren&#8217;t fixing this.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Normally, I don&#8217;t listen to Alan Greenspan, but when he says the the financial meltdown is worse than the Great Depression, it bears noting: Former Federal Reserve Chairman Alan Greenspan said on Tuesday the U.S. economic recovery was &#8216;extremely unbalanced,&#8217; driven largely by high earners benefiting from recovering stock markets and large corporations. Small businesses &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973,1004,1011],"tags":[],"class_list":["post-189681","post","type-post","status-publish","format-standard","hentry","category-economy","category-finance","category-history"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/189681"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=189681"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/189681\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=189681"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=189681"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=189681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}