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(The Year 2012 In Review)
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|User Info||There Is No Way Out Of This Box....; entered at 2009-12-18 18:41:37|
Registered: 2009-05-24 Philadelphia
That graph pretty much tells you all you need to know about Greenspan's legacy.|
It worked for the elite for several decades. The debt expansion kept the most productive people in this country toiling for years with their noses to the grindstone, in the belief that they were accumulating wealth that would give them a nice retirement and a better life. Their efforts won the Cold War and built an empire. But the wealth was illusory- just the end of a long chain of debt that was destined to snap of its own weight.
A lot of expectations are about to be shattered.