We Told You So: Greenspan Says Surge in Government 'Activism' Is Hampering U.S. Recovery

Former Federal Reserve Chairman Alan Greenspan - the guy everyone loves to hate.

Bloomberg reported on an article written by former Federal Reserve Chairman Alan Greenspan. In the article, Greenspan condemns the immediate past and current administration's fiscal irresponsibility as hampering the recovery of the US economy. In effect, he's condemning Keynesian ideals as untenable.

To get an idea of Keynes' ideas, as well as a response to the failed Keynesian ideals, take a look at this amusing video:


Greenspan's thoughts on the current government "plan" to improve the economy are telling:

A surge in U.S. government "activism," including fiscal stimulus, housing subsidies and new regulations, is holding back the economic recovery....

At least half of the shortfall in companies' capital spending "can be explained by the shock of vastly greater government- created uncertainties embedded in the competitive, regulatory and financial environments." (Bloomberg)

I agree here with Greenspan. The economic principles of leftist doctrine, based on failed Keynesian ideals, is bad for the economy. Stimulus overspending doesn't create wealth - it merely redistributes it. Housing subsidies hasn't helped the loan industry recover to allow for business growth. New regulations keep us, me included, from having any confidence in future investment strategies.

Along with reigning in Obamacare, federal spending, and executive power, the current Congress needs to focus on stabilizing regulations to allow private sector businesses to invest and create wealth.