July 30, 2015
Former Federal Reserve Chairman, Alan Greenspan, expressed his concerns on the growing cost of entitlements in an interview with CNBC on Wednesday. He said, “[T]he discussion today shouldn’t even be on monetary policy, it should be on how do we constrain this extraordinary rise in entitlements… What’s disturbing to me is not what I’m hearing, but (what I’m) not hearing. … Human psychology is very volatile and all you need is a slight little tilt and liquidity disappears.”
Sounds to us like the Maestro is coming around to our way of thinking.
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