Greenspan: “Debt, Deficits and Entitlement Programs Are All Coming to a Head In a Few Months, All Over the World”

Former Fed chief Alan Greenspan told CNBC last week:

Debt, deficits and entitlement programs are all coming to a head in a few months, all over the world.

This is very interesting, given that financial luminaries such as Ray Dalio, Kenneth Rogoff, Bill Gross, Kyle Bass, BCA Research and John Mauldin think that we’re at the end of a debt supercycle.

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  • Brockland A.T.

    A contrived crash with contrived solutions at the expense of the middle class and working poor no doubt. The neo-aristocracy is too stuck on its own precious misconception of indispensability to consider otherwise.

    The only entitlement that could never be truly afforded was corporate-fianacier welfare, but that’s probably not going to be on the chopping block. Civilized universal human rights, to the neo-aristocracy, are an entitlement, not a right.

    The movement to confuse rights and entitlements has been ongoing for some time. The definition between rights and entitlements is certainly real enough, but only at a superficial level of understanding that wallows in either/or fallacy.

    An either-or proposition between rights and entitlements is bogus. Entitlements compliment and enable rights. In fact, the most rational way way to assess the legitimacy of an entitlement, is the effect the investment in society has on social outcomes.There are some arguments out there to that effect.

    Corporate-financial welfare failed spectacularly to achieve genuine prosperity and progress, and undermined and destroyed individual human rights in the process. Corporate financial entitlements are not legitimate entitlements and very poor investments in society. People are reduced to consumers and useless eaters in the service of even more worthless people trying to perpetuate the farce.

    Legitimate entitlements are those that enabled the middle class to grow and thrive as persons with rights, free to undertake the responsibilities those rights legitimately entail to support their class and way of life against parasitical elements.

  • Agritech Media

    This is why Washington is finally going to head to head with Moscow and Beijing. Obama will lose

  • But leave the PENTAGON alone! Right? Where a good HALF of all our taxes go! Off the table of discussion. Where we spend as much as everyone else in the world’s combined military!