Posted on 12/14/2007 12:35:04 PM PST by Perdogg
Former Federal Reserve chairman Alan Greenspan believes the chances of the US economy sliding into recession now stand at 50-50, rather than the mere 30pc he estimated earlier this year.
Mr Greenspan, who has continued to speak out on the state of the US economy since stepping down in 2006, made the comments during a speech played on National Public Radio.
The former Fed chairman warned "We are getting close to stall speed... and we are far more vulnerable at levels where growth is so slow than we would be otherwise."
(Excerpt) Read more at telegraph.co.uk ...
"Meanwhile just-released industrial production numbers show a stronger-than-estimated 0.3pc rise in November, reversing an October decline.
Manufacturing output rose 0.4pc in November after a 0.6pc drop in October, boosted by a 1.7pc rise in cars and car part production and a 2.1pc increase in computer and electronic products output.
The figures suggest that the US economy is continuing to grow, in spite of comments to the commentary."
ping
This bloke just doesn’t know when to shut the heck up..
Greenspan needs to STFU. Just like ex-prez Clinton, he can’t shut up, even though he is not in power any more.
Always has to be about themselves.
Greenspans plan is to attempt to talk the economy into a recession and then claim he would have kept it going had he stayed on. He does have a book to sell, afetr all.
We’re doomed without you, Alan. Doomed.
I think we have a consensus.
Stuff a sock in it, Greenspan.
Seriously. Are modern day politicians any different than the attention whore Paris Hilton? They have all forgotten how to go gently into the good night.
Agreed. And Carter is just as bad.
A robust, autonomous, and homeostatic system like the United States free market economy doesn’t and shouldn’t need the variable tweaking micromanagement techniques Greenspan has been advocating for decades. Retire already Alan.
Has the United States has two consecutive quarters of declining growth yet? Has it even had one quarter of declining growth?
Near all examples such as the fate of Flint Michigan years past or Health-care today can just as well be used as success stories of how a free market operates.
The “big government” thinking simply interprets these events as the glass being half empty by focusing on the negatives and ignoring all the positives.
Where are these slugs gonna live when they finally bring this country to it's knees?
I blame Congress for this. They need to get a handle on this country before a recession turns into a depression. These guys are useless and need to be replaced or get off their butts. Stop the bickering and take care of this country. No new taxes, stop the pork and the spending of money they don’t have. Stop the borrowing from China and other countries. Give small companies incentives to start manufacturing in this country.....and large companies for that matter. Get away from this climate change crap that will ruin this country....especially since it’s a lie. There’s so much they can do to save this country......unless their controllers don’t want to save us. Look to the money people that want to control this country. Close our borders until things even out. Get rid of the anchor baby crap and that will stop illegals.
Where are these slugs gonna live when they finally bring this country to it's knees?
Hmmm ... I was sure I read that he died.
Oh, only retired?
Bush's fault
The reason politicians and self-annointed economic gurus feel the need to “tweak” the economy is to mitigate the consequences of their constant meddling.
It’s funny. He puts this out at the same time the nurse comes around to change his diapers.
Does anybody see flares in the distance, or is this a cowinkidink?
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