Well, Now I'm scared

Reuters reports that Greenspan has cautioned the US on spending, saying that the country should adopt the paygo approach in the face of huge fiscal pressures.

No shit.

The onruching concurrence of the housing bubble, the slip of the stock market, the international lack of confidence in US fiscal policy, and the wild-ass deficit spending must have Unca Alan just about shitting his pants for him to wander off the reservation like that.

He's been such a good corporate lackey for so long, helping to set up the assault and plundering of Social Security and aiding and abetting the tax cut financed pillaging of America, that if the situation has him saying this in public, the conditions must be truly dire.

Hang on folks, I think it's going to be a bumpy ride.