Thursday, April 7, 2011

US Heading For New Financial Meltdown

US Heading For New Financial Meltdown: "The man who brought us the global financial crisis, Alan Greenspan, has spoken out on how to fix the system. Of all the advice he might give, he has given the most unexpected. In essence, he has said: 'Don't even try.'

In one of the most remarkable statements of our time, the former chairman of the US Federal Reserve has argued that it is inherently impossible to usefully regulate a modern financial system, telling us to relax because 'the global invisible hand' of the free market has created a stable economy over the longer run."