Greenspan sees US in or near recession

[OhioChick]

Source: Reuters

15 Jan, 2008, 1213 hrs IST

NEW YORK: The US economy is probably in a recession or about to slide into it, former US Federal Reserve Chairman Alan Greenspan said in an interview with The Wall Street Journal.

The odds are "not overwhelming but they are marginally in that direction" Greenspan was quoted as saying in the interview, published on Tuesday. "The symptoms are clearly there. Recessions don't happen smoothly.

They are usually signaled by a discontinuity in the market place, and the data of recent weeks could very well be characterized in that manner," he said.

Greenspan was reported in December as saying that he saw chances of a U.S. economic recession at around 50 percent, compared with his previous view of a 30 percent chance. In the latest interview, Greenspan referred to a drop in the Institute for Supply Management's purchasing managers index as well as the rise in unemployment in December, and said the odds of a recession were still close to 50 percent but "more likely higher than lower."


Read more: http://economictimes.indiatimes.com/International_Business/Greenspan_sees_US_near_recession/articleshow/2701258.cms

[shaniqua6392]

1. Here is all I have to say.......

DUH!!! Did he just come to this conclusion recently? It has been a perfect storm all along and Bush can no longer hold back the tide that is about to rush in on our country. He has screwed us royally.

[Javaman]

2. more whistling past the grave yard by lamespan...

the dead really love the music.

[RuleOfNah]

3. I take it as code for "it is OK to panic now".

It is also future proofing, should something terrible happen, like the USD inflate with uncontrolled exuberance.

:popcorn:

[NoodleyAppendage]

4. Thanks for the news...asshole.

Greenspan is one of the reasons why we are in this mess. I still remember his bending over to Bush's tax cuts for the rich which ballooned our deficit...so much for an independent Federal Reserve.

It's high time to rid ourselves of the Federal Reserve overlords.

J

[badgervan]

11. Yep

Greenspan has probably gone through more pairs of knee pads than any other bush buttkisser/enabler. Now, like all of the bushies, he is trying to put lipstick on one huge pig.
They're all hypocrites, willing to do and say anything to get ahead, then saying and doing the exact opposite when the truth comes out. Lord, I hate these morally weak, enabling scum.

[louis-t]

5. In MI the repugs say we have a "one-state recession"

It's the new talking point. We've been hearing for a year how "every other state is booming" from state repugnicans. GOP candidates are using it in all of their speeches, Romney, being from here, claims he's gonna save the state by creating jobs. Sheeeesh!

[barb162]

7. Aren't they a bunch of jokers? I'm just laughing my head off.

NOT!
That talking point isn't working, judging by retail sales.

[OhioChick]

8. One State Recession???

Obviously, ole' Mitt has never been to Ohio!

[Delphinus]

10. The tri-state area of

Michigan, Indiana, and Ohio are really suffering! Bet IN and OH would have something to say to that!

[barb162]

6. Thanks, Uncle Al, but we already figured that out.

And if we're not in an "official recession" we're sliding along at .00000001% growth.

[ckramer]

9. How come Alan is not in jail?

Shutup already.

[Xenotime]

12. Better invest in gold

It is very strong right now.