As for whether Dodd-Frank has solved anything, Greenspan says no: “The regulations are supposed to be making changes of addressing the problems that existed in 2008 or leading up to 2008. It’s not doing that. ‘Too Big to Fail’ is a critical issue back then, and now. And, there is nothing in Dodd-Frank which actually addresses this issue.”
And finally, here’s the punchline. Asked whether he’s optimistic going forward, Greenspan said this: “No. I haven’t been for quite a while. And I won’t be until we can resolve the entitlement programs. Nobody wants to touch it. And that is gradually crowding out capital investment, and that’s crowding out productivity, and it’s crowding out the standards of living where do you want me to go from there.”
Here are the clips in which Greenspan touches on everything from NIRP to faux Chinese GDP data to US crude production:
Now if only he hadn’t gotten us into this mess in the first place…
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