Alan Greenspan: QE Failed To Help The Economy, The Unwind Will Be Painful, "Buy Gold" | Zero Hedge

Central planning never has worked, all that governments can do is shift through very inefficient methods, resourses that would have probably found more productive homes over longer periods of time....

“Effective demand is dead in the water” and the effort to boost it via bond buying “has not worked,” said Mr. Greenspan. Boosting asset prices, however, has been “a terrific success.”

He observed that history shows central banks can only prick bubbles at great economic cost. “It’s only by bringing the economy down can you burst the bubble,” and that was a step he wasn't willing to take while helming the Fed, he said.

....

He also said, “I don’t think it’s possible” for the Fed to end its easy-money policies in a trouble-free manner....

Plus, who listens to Greenspan anymore?



Alan Greenspan: QE Failed To Help The Economy, The Unwind Will Be Painful, "Buy Gold" | Zero Hedge