"I conclude that the current government activism is hampering what should be a broad-based robust economic recovery, driven in significant part by the positive wealth effect of a buoyant U.S. and global stock market," Greenspan wrote.
The aversion by corporations--and households too--from making large long term capital investments hasn't been this sluggish since 1940, Greenspan says. He blames uncertainty over continued government interference for the apparent corporate intransigence.
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