The Federal Reserve's massive stimulus program had little impact on the U.S. economy besides weakening the dollar and helping U.S. exports, Federal Reserve Governor Alan Greenspan told CNBC Thursday.
In a blunt critique of his successor, Fed Chairman Ben Bernanke, Greenspan said the $2 trillion in quantative easing over the past two years had done little to loosen credit and boost the economy.
"There is no evidence that huge inflow of money into the system basically worked," Greenspan said in a live interview.
No shit, Sherlock. And dumping water on Fukushima doesn't work either.
You ever listen to the Bob and Tom Morning Show with Chick on Sports and everyone on Christy Lee? Those guys have a segment called "The Mr. Obvious Radio Show" and I think Sir Greenspan might be the host.
Everyone on Christy Lee?
What kind of radio show is this?
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