Great article on how Greenspan’s monetary polices enrich the state and the elite at the expense of ordinary Americans by Mike Whitney at CounterPunch. The article shows an understanding of the effects of Greenspan’s lose monetary policy unusual for the left, which usually just wants to keep the printing presses going until the workers reap the same benefits from inflation as the banksters. Mainstream conservatives and regime libertarians will scoff at Whitney’s use of class analysis but LRC readers will appreciate how Whitney’s class analysis of the Fed is based on an understanding of how some manipulate state power to … Continue reading Greenspan is a weasel