The Lying Greenspan

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Writes Dom Armentano: “There are some real gems in Alan Greenspan’s new book, The Age of Turbulence. Aside from shamelessly running away from the charge that the Fed, under his guidance, created the funny money housing boom that has since gone terribly bust,Greenspan drops at least two other whoppers. One, is that he now believes that ‘there can be little doubt that global warming is real and manmade.’ {p.454} (No footnotes, no citations). Worse, several pages later Greenspan asserts that he is now in favor of sharply higher gasoline taxes to help ‘wean us off gasoline powered motor vehicles.’ Higher gas taxes unpopular? No big deal says Alan. ‘I consider the argument that gasoline tax hikes are politically infeasible irrelevant. Sometimes the duty of political leadership is to convince constituencies that they are just plain wrong.’ {462}” (Via

5:28 pm on July 26, 2008