ALAN GREENSPAN: ECONOMY WILL BE CRUSHED “VERY DRAMATICALLY” BECAUSE OF ENTITLEMENTS

0
102

by Mac Slavo, SHTF Plan:

Former Federal Reserve chairman, Alan Greenspan issues a warning about the United States’ inability to curb their entitlement spending. Greenspan says that the economy will “fade very dramatically” because of the burden of the socialist policies already in place: entitlements.

Many economic analysts have been warning about the level of spending on Ponzi schemes such as social security and other government handouts for decades.  But whether Americans want to believe it or not, reliance on the government should be culled and for their own good.  People lose the will to even want to do better in most cases when a check is handed to them because they exist.

Retirement is a Myth: The American Dream Turns Into a Nightmare

In an interview with CNBC, Greenspan finally said what needed to be said and those shocked by this claim were the one who needed to hear it the most.  The government is $22 trillion in debt.  The gravy train will derail at some point. Economic growth won’t last as the U.S. labors under the burden of growing entitlement programs, former Fed Chairman Alan Greenspan tells CNBC. All this as communists call for “Medicare For All” a massive program full of heavy taxation, tyranny, control, and of course, entitlements.

The long-time central bank chief repeated his warnings about the weight that Social Security, Medicare, and other programs are having on what has otherwise been “solid gains over the past few years” according to the media’s talking heads.  “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. “Without any major change in entitlements, entitlements are going to rise. Why? Because the population is aging. There’s no way to reverse that, and the politics of it are awful, as you well know,” Greenspan added.

Of course, mainstream media pundits brushed off Greenspan’s warning because a few economic data points have turned slightly positive lately. However, even Greenspan, who infamously said the government will never run out of money and default on the national debt because they can just print more, put them back in their place.  He said that the little improvement we have experienced has come from a rise in stock market prices, not a rise in personal wealth. He sees a “stock market aura” in the economy. A rise of 10 percent in the S&P 500 corresponds to a 1 percent real GDP increase, he said. And while the S&P 500 has risen nearly 16 percent in 2019 and is on track for its best performance in history should current trends hold, there are other economic concerns that should not be ignored. 

Read More @ SHTFPlan.com

Loading...