Tuesday's Market Meltdown: Greenspan's “Invisible Hand”

by Mike Whitney
www.dissidentvoice.org
March 1, 2007

Tuesday’s stock market freefall has former Federal Reserve Chairman Alan Greenspan’s bloody fingerprints all over it. And, no, I’m not talking about Sir Alan’s crystal ball predictions about the impending recession; that’s just more of his same circuitous blather. The real issue is the Fed’s suicidal policies of low interest rates and currency deregulation that have paved the way for economic Armageddon. Whether the Chinese stock market contagion persists or not is immaterial; the American economy is headed for the dumpster and it’s all because of the wizened former Fed chief, Alan “Great Depression” Greenspan.

So, what does the stumbling Chinese stock market have to do with Greenspan?