US Recession Still Probable: Greenspan

Source: Agence France-Presse

LONDON (AFP) — A recession in the United States remains a probability, former Federal Reserve chairman Alan Greenspan said in an interview published Tuesday.

Speaking to the Financial Times from Washington, Greenspan said he believed "there is a greater than 50 percent probability of recession."

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According to the Financial Times, Greenspan estimated that house prices in the United States would drop by a further 10 percent from their levels in February, which comes to a 25 percent drop from their peak.

"Such house price declines imply a major contraction in the level of equity in owner-occupied homes, the ultimate collateral for mortgage-backed securities," he said.

US economic growth has slowed dramatically in recent months and a growing number of economists believe the world's largest economy will experience a recession during 2008 amid a housing slump and related credit crunch.


Read more: http://afp.google.com/article/ALeqM5jNYI7zsQhE-rN1VwWxI6i_zPy7vw

We're IN a recession.

and depression is next.

n/t

Every recession for the rich folk is a Great Depression for TENS OF MILLIONS of Americans.

that is all.

and destroy what little value the U.S. dollar has left.

*smack*

give him a break, he's moved beyond the 'mebbe it do, mebbe it don't' stance.

why does he have an onion tied to his belt?
dp

I thought (hoped) he had disappeared.

to undermine confidence in the American economy. Could it be that you are making millions in the bond markets?

What a horrific shock! :nuke:

Alan you ignorant slut! Being disabled and living on 1400 bucks a month, paying 400 bucks a month to live in a disgusting old garage, which has electric heat at about 200 bucks a month. I just took the old 85 buick to the bone yard, with about 10,000 in credit card debt, probability 50 - 50? We got a full blown depression going on. Tried to find any kind of part time work just to feed myself, being in my mid fifties and dibabled I get some pretty curious looks from employers. This country is upside down!!!

Greenspan needs to enter a nursing home. NOW.

Six months into the recession and he's saying it's 'probable'.

See my sig line for another brilliant Greenspan quote.

Like most neo-cons that have fucked up this country for the past 30 years.......

I mean, who the fuck do these people think they are fooling :o

and didn't old Johnny McCain say he doesn't know much about economics, but he's got Greenspan's book? Just what we need more of Greenspan's genius economic theory...:eyes:

Its like being in an airplane crash, debris, smoke and fire, folks running for their lives and the pilot comes on the intercom and announces that the landing might be a little bumpy!

How STUPID do these people get???????

8643

He will lie and spin just as his owners tell him too. Must keep the public in the dark... in dark from realizing he and his people are turning America into a Fascist Dictatorship where the wealthy rule with an iron fist. And you dumb ass right wingers thought communism was all you needed to worry about... duh. You are the perfect tools.