Yesterday, former Fed Chairman Alan Greenspan was the keynote speaker at KPMG’s 2014 Insurance Industry Conference Tuesday, where he answered questions such as 1) where the economy is going, 2) why, and 3) when (if ever) is it likely to improve. The answers, as reported by Property Casualty 360, are: 1) nowhere fast, 2) because nobody is willing to invest, and 3) eventually, but nobody can tell when. He listed 9 specific reasons why the “economy stinks”, although surprisingly, nowhere did he mention the fact that the current and future economic disaster is all a direct result of his ruinous reign at helm of the Fed where as a result of his “great moderation” and the Fed’s catastrophic monetary policies conceived mostly under Greenspan himself, the economy is now perpetually stuck in a boom-bust cycle, and where every time a bubble bursts another has to replace it or else the entire western way of life will be gone in a heartbeat.

Here are the 9 reasons…

9. Lack of confidence.

8. Renting instead of buying.

7. It’s a global problem.

6. China’s debt bubble is going to burst.

5. A diminished U.S. military means an unstable world.

4. Interest rates and inflation.

3. Regulatory over-reach.

2. A lack of leadership.

1. Nobody appreciates insurance enough.

Click here to read more in depth of all 9 reasons.