Greenspan says US economy getting to the stage of stagnation
– Productivity has been slow around the world
– We’re beginning to get a pickup in wages
– Money supply has been picking up
He repeatedly circled back to entitlements and said the US won’t be able to pay for them. He pushed the idea that the economy won’t be able to recover until politicians deal with the issue. He said it’s crowding out and/or scaring off investment.
