May 7, 1999 - New York Times EXCERPT:

NEW YORK: The Federal Reserve Board chairman, Alan Greenspan, although praising the U.S. economy for its "truly phenomenal" eight years of rising output and stable prices, warned Thursday that "imbalances" could end its record of growth.

Speaking at a Federal Reserve Bank of Chicago conference, Mr. Greenspan also said America would eventually run out of workers, despite impressive technological advances that have allowed companies to rapidly increase their output of goods and services.

"There are imbalances in our expansion that unless redressed will bring this long run of strong growth and low inflation to a close," he said.

A "critical" risk is what he called "worker depletion." Looking beyond the unemployment rate, currently at 4.2 percent, Mr. Greenspan said that the number of potential workers was as low as it has been since records were first kept.



Ah, let me think, are we better today then 8 years ago? At peace and our budget in the black...a surplus? And wages on the rise?

And now it's 2008...financial markets in turmoil...bankrupt...the big three looking for 25 billion dollars to stay afloat against superior competition...and a record looming $480 billion dollar deficit. Two wars costing more then $150 billion yearly...and so much more...