Recently Alan Greenspan wrote a paper titled “Activism.” (pdf) While I don’t agree with many of its analyses and conclusions, I am finding it to be an interesting document.
On March 4, CNBC interviewed Greenspan. I found one response by Greenspan to be especially notable. The question happens at the 42 second mark:
interviewer: “…isn’t QE2 some government activism that could be actually hurting the strength of the economy rather than helping it?”
Greenspan: “I think we’re not going to know the answer to that question until after the fact – because you have to go full-cycle on these types of projects…”
A Special Note concerning our economic situation is found here
SPX at 1298.05 as this post is written