* Government released revised estimate for Q4 GDP * Initial estimate was 2.6; revised down to 2.2 * Economic growth dipped from 5% in Q3 to 2.18% in Q4 * PMI was expecting 58.7 but plunged to 45.8, indicating contraction * Alan Greenspan commented that the U.S. economy is weak * Greenspan cites declining U.S. productivity * Points to declining gross domestic savings brought on by entitlement programs * Greenspan refuses to blame Fed policy for productivity and savings declines * He predicts continued low interests rates to create the illusion of wealth * In 1966, Alan Greenspan blamed the Fed and their cheap money policies for stock market bubble and economic imbalances * Today, he still believes this to be true, but no longer cares about the consequences of reckless economic policy * The Fed's job now is to just do whatever it takes to postpone the pain * Inflating bubbles with the certain knowledge that the outcome will be bad, while pretending that they will eventually raise ratesOur Sponsors:* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

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“What did the council decide on item 42?” — answered with the speaker and the moment.

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