It is obvious that Alan Greenspan does not know the first thing about economics. He operates out of a fantasy world of magic rather than law. He wants the consumer to consume more. How does he want them to do it? By going into debt. That is, going into deeper debt than they already are. He wants people to spend money on things they cannot afford with money they do not have. After all it is for a good cause, he says.
George W. Bush wants to get re-elected so he has signed off on this disastrous course of lowering interest rates to try and stimulate the economy. As a business man, he should know better than turning on the printing press. But you have to buy votes. Money is the only language people know. This is because they are covetous. The other 12 interest rate cuts have done nothing long term. But these men do not care because they are lower class and present oriented.
The Bible says the borrower is a slave to the lender. It is wise to stay out of debt. I am doing my part to help this economy. I am spending less and saving more. This way the tax man will get less. Long term: thrift, hard work and frugality pay off. This is upper class thinking. You can go ahead and sell yourself into slavery, I prefer freedom.
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