By Ravi Batra
This booklet is simply great in explaining the social cycles which are found in the area, and the way he forecasts occasions so thoroughly. This booklet is a must-have in addition to the parable of loose exchange, and Greenspan's Fraud.
This will surprise you as to how corrupt our political method is, besides our pathetic company weather during this state and a valueless media.
Read or Download Greenspan's Fraud: How Two Decades of His Policies Have Undermined the Global Economy PDF
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Additional info for Greenspan's Fraud: How Two Decades of His Policies Have Undermined the Global Economy
As a result, the Fund today has a few billion dollars of cash to meet its current obligations. 5 trillion of non-marketable government IOUs, while the government itself has a deficit of nearly $420 billion. In other words, after the government overtaxed the average American worker for more than two decades, we are back to where we were in 1983. How do we know this happened? gov—to get the answer. Once inside the website, click on “Social Security Trustees 2004 Report” in the sidebar to the left, then on “text on portable document,” then on “Table of Contents,” and finally on “VI.
18 But why? Social Security was and is an independent program financed by its own taxes; it had nothing to do with the general budget deficit, which was the byproduct of the income and corporate tax cuts of 1981. And what about the legal and moral compact between the government and the American people? SOCIAL SECURITY TAXES AND THE BUDGET DEFICIT Now you can see what the real purpose of the Social Security act was in Greenspan’s mind. It was primarily to lower the federal budget deficit, which worried him because it kept the interest rates high and thus crippled the economy.
Dire warnings about Social Security’s solvency issued by David Stockman and the Greenspan commission were mere pretexts, but they petrified a lot of people. So the commission had to act. The Greenspan commission fooled a lot of Americans and the media, but the foreign press saw its recommendations for what they were. S. S. ” You wonder who created that type of public perception. The Democrats, of course; they vigorously aided in the deception. Yes, the retirement system needed short-term help, but it was not on the verge of collapse.