Sunday, August 1, 2010

A pause in a recovery?

MR. ALAN GREENSPAN: Maybe, but not necessarily. I think we're in a pause in a recovery, a modest recovery. But a pause in the modest recovery feels like quasi recession.
... East St. Louis Mayor Alvin Parks announced that the city will layoff 37 employees, including 19 of its 62 police officers, 11 firefighters, four public works employees, and three administrators. The layoffs take effect on Sunday.

The money for those cops disappeared into the black hole of derivatives created by Greenspan and his ilk. This is no "pause in a recovery" - it's the beginning of the end of civilization, and only the LaRouche Plan can stop it.