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Greenspan sees stock market drop after downgrade
Market Watch ^
| August 7, 2011
Posted on 08/07/2011 9:31:43 AM PDT by Oldeconomybuyer
WASHINGTON Former Federal Reserve Chairman Alan Greenspan says he expects the stock market slide to continue in the wake of a decision by credit rating agency Standard & Poor's to downgrade the U.S. credit rating.
Appearing Sunday on NBC's "Meet the Press," Greenspan said markets will take time to bottom out and that he expects a negative reaction on Monday to the S&P action.
The former Fed chairman says the downgrade "hit a nerve" and is damaging to the "psyche" of the country.
(Excerpt) Read more at moneywatch.bnet.com ...
TOPICS: Business/Economy; Government; News/Current Events; Politics/Elections
KEYWORDS: debt; failure; obamanomics; socialism
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To: Oldeconomybuyer
Wow, Al, ya think? Not that it’s not already heading south but great call there, dude.
2
posted on
08/07/2011 9:33:07 AM PDT
by
bgill
To: Oldeconomybuyer
NO SPIT!
Where is Captain Obvious?
3
posted on
08/07/2011 9:33:32 AM PDT
by
Sequoyah101
(Half the people are below average.)
To: Oldeconomybuyer
Well, Greenspan seems more founded in reality than the Ben Bernake.
4
posted on
08/07/2011 9:34:54 AM PDT
by
mylife
(OPINIONS ~ $ 1.00 HALFBAKED ~ 50c)
To: Oldeconomybuyer
Oddly, futures are up at the moment.
To: Oldeconomybuyer
Easy to predict post facto, genius.
6
posted on
08/07/2011 9:37:30 AM PDT
by
Paladin2
7
posted on
08/07/2011 9:37:48 AM PDT
by
mylife
(OPINIONS ~ $ 1.00 HALFBAKED ~ 50c)
To: Oldeconomybuyer
from the guy that made cheap money for fannie and freddie possible.
8
posted on
08/07/2011 9:37:57 AM PDT
by
ken21
(ruling class dem + rino progressives -- destroying america for 150 years.)
To: mylife
Bennie Boy is probably locked in a straight jacket on suicide watch somewhere now...
He sure as heck doesn’t seem to be outside warming up the chopper.
9
posted on
08/07/2011 9:38:41 AM PDT
by
djf
(One of the few FReepers who NEVER clicked the "dead weasel" thread!! But may not last much longer...)
To: Oldeconomybuyer
Dr. Greenjeans will go down in history as one of the top over-rated people of all time, along with Jack Welch, Warren Buffett, Joe Lieberman and the one who's software is overrated Bill Gates....
Time for Big Al to adopt GWB's matra and say nothing....
10
posted on
08/07/2011 9:39:57 AM PDT
by
taildragger
(( Palin / Mulally 2012 ))
To: Oldeconomybuyer
I have a feeling ol’ Greenie experiences a lot of “drops” when his wife , Andrea Mitchell, shows up.
11
posted on
08/07/2011 9:42:19 AM PDT
by
Carl LaFong
(Experts say experts should be ignored.)
To: Oldeconomybuyer
Should be some good buying opportunities
12
posted on
08/07/2011 9:44:10 AM PDT
by
Huskrrrr
To: Siena Dreaming
I think the market will go up for at least a few days, or perhaps even a few weeks if the economic news isn’t too negative. The downtrend will likely still be intact, however.
13
posted on
08/07/2011 9:45:41 AM PDT
by
oblomov
To: Oldeconomybuyer
Greenspan. The same clown that thought banks would self-regulate.
Look at this guy’s charts. He has a bunch of them. But he shows the trajectories of spending and debt for the U.S. How could S&P NOT downgrade? How could the stock market be surprised?
http://confoundedinterest.wordpress.com
To: djf
There aint no more fuel for the chopper!
15
posted on
08/07/2011 9:47:13 AM PDT
by
mylife
(OPINIONS ~ $ 1.00 HALFBAKED ~ 50c)
To: Oldeconomybuyer
Pictures like this always remind me that we’re getting what we deserve. We allowed these people to move in the white house.
16
posted on
08/07/2011 9:48:01 AM PDT
by
Terry Mross
(I'll only vote for a SECOND party.)
To: mylife
Well, Greenspan seems more founded in reality than the Ben Bernake. So's my pet rock.
17
posted on
08/07/2011 9:49:45 AM PDT
by
Roccus
(Obama & Holder LLP, Procurers of fine arms to the most discerning drug lords (202) 456-1414)
To: oblomov
if the economic news isnt too negativeWhat the hell positive news is there?
18
posted on
08/07/2011 9:50:35 AM PDT
by
mylife
(OPINIONS ~ $ 1.00 HALFBAKED ~ 50c)
To: Oldeconomybuyer
The communists RATS will dump everything they have in the market to prop it up. You can be sure the communists will try. Hope they fail.
To: bgill
Nice job during the housing bubble Al.
Shut up already.
20
posted on
08/07/2011 9:57:14 AM PDT
by
y6162
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