Greenspan says US economy getting to the stage of stagnation
- Productivity has been slow around the world
- We're beginning to get a pickup in wages
- Money supply has been picking up
- Stagflation means we won't get 1-2% Fed rates
- The cause of FX volatility is 'a very significant amount' of uncertainty in the global economy
- The US has 'very major entitlement problems'
He repeatedly circled back to entitlements and said the US won't be able to pay for them. He pushed the idea that the economy won't be able to recover until politicians deal with the issue. He said it's crowding out and/or scaring off investment.
