I'm no fan of Greenspan and he is certainly coming in a little late to the party, but his comments are accurate..

Greenspan Says Government ‘Activism’ Hampering U.S. Recovery

Former Federal Reserve Chairman Alan Greenspan said a surge in U.S. government “activism,” including fiscal stimulus, housing subsidies and new regulations, is holding back the economic recovery.

Increased bond issuance by the Treasury Department crowds out borrowers with the weakest credit ratings, Greenspan said in an article in International Finance, published on the Web today. At least half of the shortfall in companies’ capital spending “can be explained by the shock of vastly greater government- created uncertainties embedded in the competitive, regulatory and financial environments” since the failure of Lehman Brothers Holdings Inc. (LEHMQ) in 2008, Greenspan said.

Greenspan’s conclusions fit with his long-held free-market ideology and may aid Republican lawmakers who argue that cutting federal spending now will help spur job growth. Critics including members of the Financial Crisis Inquiry Commission have said Greenspan’s failure to regulate the mortgage market last decade helped fuel the housing bubble whose bursting precipitated the financial crisis.

“Much intervention turns out to hobble markets rather than enhancing them,” said Greenspan, 84, who was appointed Fed chairman by Republican President Ronald Reagan in 1987 and served until 2006. “Any withdrawal of action to allow the economy to heal could restore some, or much, of the dynamic of the pre-crisis decade, without its imbalances.”

http://www.bloomberg.com/news/2011-03-03/greenspan-says-surge-in-government-activism-is-hampering-u-s-recovery.html

Even a broken clock is accurate twice a day. I certainly don't like accepting any opinions from Alan Greenspan.

Ah, yes, Alan Greenspan. Mr. Greenspan's policies have finanlly been discredited by the majority of economists, and for good reason. He's a lousy economist. Laissez-faire policies extended toward business benefit no one except for business.

As for President Reagan, do you remember "trickle-down economics," Mr. Reagan's insistence that lowering taxes on the wealthy would benefit the rest of us? Well, it didn't. The wealthy people who received the benefits of lower taxes just squirreled it away in their bank accounts--they didn't reinvest it our economy as was predicted. As a matter of fact, President Reagan was the first of the union-busting Presidents.

Collective bargaining is what made a strong middle class possible in this country. I'm amazed that so many people are so poorly schooled in economics and history. No, not everything that unions have done is to be applauded. They have had some leaders that were just as corrupt as some of our current elected representatives. There will always be some bad apples in every segment of society but, as the old saying goes, "You don't throw out the baby with the bath water." The middle class needs strong unions to survive. Without them, were on the fast track to becoming a third-world country with only two economic classes: the very rich and the poor. So which do you find the least acceptable option?

He's an Ayn Rand disciple and a product of the Chicago School of Economics (all that Milton Friedman crowd).