Greenspan on the Economy: Double Ouch

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greenspan.jpg You have to have an online subscription to the Financial Times to read Alan Greenspan’s latest take on the American economy. But even without a subscription, you can read the first line:

The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the second world war.

Commenting on the economy recently, billionaire/media tycoon Sam Zell said, “Obviously what we have going on is an attempt to create a self-fulfilling prophecy…. We have two Democratic candidates who are vying with each other to describe the economic situation worse.” Somebody tell him that Greenspan, something of an authority, sees things the way HRC and BHO do.

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We've never been very good at being conservative.

And usually, that serves us well in doing the ambitious, hard-hitting journalism that you turn to Mother Jones for. But it also means we can't afford to come up short when it comes to scratching together the funds it takes to keep our team firing on all cylinders, and the truth is, we finished our budgeting cycle on June 30 about $100,000 short of our online goal.

This is no time to come up short. It's time to fight like hell, as our namesake would tell us to do, for a democracy where minority rule cannot impose an extreme agenda, where facts matter, and where accountability has a chance at the polls and in the press. If you value our reporting and you can right now, please help us dig out of the $100,000 hole we're starting our new budgeting cycle in with an always-needed and always-appreciated donation today.

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