Economic growth won't last as the U.S. labors under the burden of growing entitlement programs and weakness around the world, former Federal Reserve Chairman Alan Greenspan told CNBC.
"I think the real problem is over the long run, we've got this significant continued drain coming from entitlements, which are basically draining capital investment dollar for dollar," he told CNBC's Sara Eisen during a"Squawk on the Street" interview. While he said the economy looks"reasonably good" in the short run, he expects that over the longer term, growth"fades very dramatically."
It's far more likely that listening to Greenspan will cause the US economy to fade out. See the 2008 financial crisis.
Entitlements is a made up SenateGOP HouseGOP WORD!
HOW SMART DO YOU HAVE TO BE TO SEE YOU CAN NOT GIVE SO MUSH MONEY TO ILLEGALS - CRIMINALS - IMMAGRANTS OR JUST ANYONE . . AND FLOAT ! ! !
In other shocking news that we ignore, the planet is warming.
Easy for rich guys to not need it
Bullish
Its going to crash hard. And everyone who bragged about is is going to cry like babies
Democrats/Liberals/Progressives want to destroy the Republic.
All that welfare givin to billionaires is adding up !!
Once again...
No one cares. That’s the next generation’s problem and we’ll all be dead then
Lol nothing to do with the trillions in tax breaks to the wealthy and corporations? Moron
Couldn’t have anything to do with Trumps tax cut for the rich ?
There has never been a rime when Greenspan wasn’t saying this
I wonder if this crypt keeper will opt out?
Corporate entitlement!
Why does anyone listen to this guy....unless CNBC (gasp) isn’t honest and hopes to drive its own agenda...?
Nah , they will just borrow more money! All the way up until the music stops. However, looking at Japan as the canary in the coal mine, it can be playing for quite some time to come!
Only thing that’s fading is him at this point
So basically if we could starve senior citizens and not provide them medical assistance, the economy won’t fade out. Ok, thanks Alan.
The biggest burden is the Pentagon budget. Greenspan's worldview is so consistently wrong and unbelievably mean spirited, makes me wonder why CNBC even quoted this neocon fossil. Greenspan SoylentGreen
In other words, some rich asshole might shave a few bucks off his portfolio because some poor single mother's need for food stamps. Got it.
I wonder if Alan and Andrea still have sex.
does he mean entitlements like his his tax breaks and subsidies... or entitlements like the largest military budget in the world
A rise of 10 percent in the S&P 500 corresponds to a 1 percent real GDP increase. Alan Greenspan.