Greenspan: U.S. recovery "extremely unbalanced"

Reuters ^ | Tue Feb 23, 2010 12:08pm EST | Reporting by David Lawder, Editing by Chizu Nomiyama

[Fyscat]

WASHINGTON (Reuters) - Former Federal Reserve Chairman Alan Greenspan said on Tuesday the U.S. economic recovery was "extremely unbalanced," driven largely by high-income people benefiting from recovering financial markets and large corporations.

[Fyscat]

Greennspan being as sharp as ever....

[Lazamataz]

I am one who is benefiting. I hover around 6 figures, sometimes more, sometimes less.

Obama is helping higher-income white guys.

But not who he said he was going to help.

Lolz.

[Marty62]

Stating the obvious! Jerkspan

[Leisler]

Money creation via the Federal Reserve, then though broker dealer banks, and now any financial institution, like AIG.

I guess everyone is trickle down now.

[Buckeye McFrog]

..as are the people who are in charge of it...

[egannacht]

Greenspan says the economic collapse is due to what?

[Zathras]

I wonder how his personal hedge fund is working out.
I’m sure he isn’t unbalanced. /s

[Parley Baer]

I wonder if that statement was approved by his wife Andrea Mitchell NBC News.

[marstegreg]

I guess this is his way of paying back Soros too! I hear he as done well.

[Cheetahcat]

Is he just stupid? there is no Industry and No jobs created here only JOB Loss!

[Fyscat]

Is he just stupid? there is no Industry and No jobs created here only JOB Loss!

A situation he helped create, for sure. I only posted it for the irony factor. But you have “hit the nail on the head” This is a problem that will not be going away any time soon as structural problems never do......

[Happyinmygarden]

I wish some of ya’ll who are benefitting would buy up the miles and miles of empty light-industrial buildings that are sitting empty here in So. CA because they aren’t going to age well if this goes on indefinitely. Urban decay will take place in the once pristine suburban business parks.

[Lazamataz]

I wish some of ya’ll who are benefitting would buy up the miles and miles of empty light-industrial buildings that are sitting empty here in So. CA because they aren’t going to age well if this goes on indefinitely. Urban decay will take place in the once pristine suburban business parks.

Eat cake. We laugh all the way to our banks, where we dive into vast money bins like Scrooge McDuck.

[Cheetahcat]

“A situation he helped create, for sure. I only posted it for the irony factor. But you have “hit the nail on the head” This is a problem that will not be going away any time soon as structural problems never do......”

Yes thank you for posting this.

[BIOCHEMKY]

The Greenspan quote from this article that got my attention the most was as follows:

“Small businesses and the jobless are still suffering from the aftermath of a credit crunch that was “by far the greatest financial crisis, globally, EVER” — INCLUDING the 1930s Great Depression.”

[Fyscat]

We keep hearing deep recession, extend recession or prolong recession... lets call it what it is, its a freakin depression! But we wont hear that for awhile, until then its business as usual...... move along folks.