DIE ZEIT: Can the right monetary and fiscal policy keep the US out of a recession?

Alan Greenspan:

“Probably not. Global forces can now override most anything that monetary and fiscal policy can do. Long-term real interest rates have significantly more impact on the core of economic activity than the individual actions of nations. Central banks have increasingly lost their capacity to influence the longer end of the market.

Thus, the more important question is the direction of long-term real interest rates.”

Alan Greenspan
The Great Irony of Success
© ZEIT online, 30.1.2008

If short-term interests are 0% doesn’t it mean that credit is worthless?

A Credit Free, Free Market Economy will correct all of those dysfunctions.

The alternative would be to wait till, on the long run, most of our productive assets get physically destroyed either by war or by rust.
It will be either awfully deadly or dramatically long.

We Need, Hence, to Cancel All Interest Bearing Debt and Abolish Interest Bearing Credit.

This Age of Turbulence People Want an Exit Strategy Out of Credit,
An Adventure in a New World Economic Order.

Exit Strategy out of Credit
http://edsk.org/

A Specific Application of Employment, Interest and Money. [For my Fellows Economists]
http://edsk.org/interest.html

Press release of my open letter to Chairman Ben S. Bernanke:

Sorry, Chairman Ben S. Bernanke, But Quantitative Easing Won’t Work.
http://www.prlog.org/10162465.html

Yours Sincerely,

Shalom P. Hamou AKA ‘MC Shalom’
Chief Economist – Master Conductor
1776 – Annuit Cœptis.