last night he says as of now recession does not appear imminent. he now tells the wall street journal that their is a GREATER than one third chance of a recession whereas a month ago he said only a third. i think cnbc and nbc are spinning what he actually said last night. i saw the interview he appeared to be very negative on the economy. he now says over a third chance of recession!
Greenspan contradicts himslef--
- Thread starter Warrior4g
- Start date
OP is an idiot. An adjustment of probability is not contradiction. Ginnie thought we had a 33.3% chance and now he might think we have a 35% (which is greater than 33.3) chance for recession. Why would that be contradictory???
In my not so humble opinion both predictions are MEANINGLESS and sounds like hedging. If we don't get a recession he can say, hey I only said 1/3 of a chance, if we get the recession he says, I did say there was a chance!!!
In my not so humble opinion both predictions are MEANINGLESS and sounds like hedging. If we don't get a recession he can say, hey I only said 1/3 of a chance, if we get the recession he says, I did say there was a chance!!!
the post was about greenspan contradicting himself. a few weeks back he claimed there was about a one third chance of a recession. last night on nbc(60 minutes) he said a recession does NOT look imminent at this time. however,just this morning he tells the wall street journal we now face a better than one third chance of a recession this year! thats not a friggin contradiction from what he said last night on 60 minutes! are you kidding me!
I didn't think that recessions could be predicted with numeric specificity beyond the balance of probability: yes/no, at best. Perhaps I speak from ignorance, but specificity of even quarters or thirds casts a distinctly sulfuric aroma. Maybe it's just me.
Greenspan is a Joke. He should have been canned years ago.
He fucked us all with his silly rate cuts.
John