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Greenspan warns US recession risk is rising
Telegraph.co.uk ^ | Last Updated: 3:48pm GMT 14/12/2007 | By James Quinn, Wall Street Correspondent

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 ...


TOPICS: Business/Economy
KEYWORDS: economy; greenspan; recession; term2
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This is funny

"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."

1 posted on 12/14/2007 12:35:04 PM PST by Perdogg
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To: jdm; Hoffer Rand

ping


2 posted on 12/14/2007 12:35:58 PM PST by Perdogg
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To: Perdogg

This bloke just doesn’t know when to shut the heck up..


3 posted on 12/14/2007 12:36:31 PM PST by NormsRevenge (Semper Fi ... Godspeed ... ICE’s toll-free tip hotline —1-866-DHS-2-ICE ... 9/11 .. Never FoRGeT)
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To: Perdogg

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.


4 posted on 12/14/2007 12:37:04 PM PST by packrat35 (Politicians would be less worthless if they were edible, or useable for packing wheel bearings.)
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To: Perdogg

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.


5 posted on 12/14/2007 12:39:18 PM PST by aroundabout
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To: Perdogg

We’re doomed without you, Alan. Doomed.


6 posted on 12/14/2007 12:41:28 PM PST by WhistlingPastTheGraveyard ("and alllll the children are insane")
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To: Perdogg

I think we have a consensus.

Stuff a sock in it, Greenspan.


7 posted on 12/14/2007 12:41:53 PM PST by Hoffer Rand
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To: packrat35

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.


8 posted on 12/14/2007 12:42:34 PM PST by steel_resolve (If you can't stand behind our troops, then please stand in front...)
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To: packrat35

Agreed. And Carter is just as bad.


9 posted on 12/14/2007 12:42:55 PM PST by Hoffer Rand
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To: Perdogg

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.


10 posted on 12/14/2007 12:45:59 PM PST by SpaceBar
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To: Perdogg

Has the United States has two consecutive quarters of declining growth yet? Has it even had one quarter of declining growth?


11 posted on 12/14/2007 1:00:16 PM PST by olivia3boys
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To: SpaceBar
Agree,

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.

12 posted on 12/14/2007 1:01:07 PM PST by Red6 (Come and take it.)
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To: steel_resolve
The socialist democrats and enemies at State Dept. are making a big push for our military to lose the war in Iraq. Now, Greenspit is trying to push for a recession.

Where are these slugs gonna live when they finally bring this country to it's knees?

13 posted on 12/14/2007 1:02:37 PM PST by BARLF
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To: Perdogg

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.


14 posted on 12/14/2007 1:02:41 PM PST by RC2
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To: steel_resolve
The socialist democrats and enemies at State Dept. are making a big push for our military to lose the war in Iraq. Now, Greenspit is trying to push for a recession.

Where are these slugs gonna live when they finally bring this country to it's knees?

15 posted on 12/14/2007 1:03:35 PM PST by BARLF
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To: Perdogg
Isn't Alan Greenspan dead?

Hmmm ... I was sure I read that he died.

Oh, only retired?

16 posted on 12/14/2007 1:04:06 PM PST by G.Mason (And what is intelligence if not the craft of out-thinking our adversaries?)
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To: BARLF
Sorry for the double post.

Bush's fault

17 posted on 12/14/2007 1:05:50 PM PST by BARLF
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To: Red6

The reason politicians and self-annointed economic gurus feel the need to “tweak” the economy is to mitigate the consequences of their constant meddling.


18 posted on 12/14/2007 1:09:06 PM PST by SpaceBar
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To: Perdogg

It’s funny. He puts this out at the same time the nurse comes around to change his diapers.


19 posted on 12/14/2007 1:10:33 PM PST by Dogbert41
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To: Perdogg
What those who follow the economy appear to be missing is that crude has nearly doubled since the dims regained control of Congress.

Does anybody see flares in the distance, or is this a cowinkidink?

20 posted on 12/14/2007 1:13:52 PM PST by BlabItGrabIt ("It's The Economy, Stupid" ruse might be failing?)
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