But obviously the '90s were not sustainable. What we are going through today is the payback period (with interest) for Greenspan's economic policies.
Sorry, it's not obvious to me at least. Can you explain why they weren't sustainable?
But basically the hypergrowth of the '90s was borrowed from the future. All policy was good if GDP grew. Greenspan noodled on the problem--"irrational exuberance"--but unfortunately became convinced the existing pyramid scheme was working. He's since publicly expressed regret over a ton of those decisions.