Greenspan: US to go into recession

[capmac]

Greenspan Warns of Likely U.S. Recession

Monday February 26, 8:34 am ET

Alan Greenspan Warns That U.S. Economy May Slip Into Recession by End of Year

HONG KONG (AP) -- Former U.S. Federal Reserve Chairman Alan Greenspan warned Monday that the American economy might slip into recession by year's end.

He said the U.S. economy has been expanding since 2001 and that there are signs the current economic cycle is coming to an end.

http://biz.yahoo.com/ap/070226/hong_kong_us_greenspan.html?.v=4

 

[austinp]

No fault of his own, of course. Too bad he won't be around to save the day this time (huge laugh)

 

[niceneasy]

i agree with him - but thats a dick move to hand over a steaming pile of shit to bernacke and then yell "poo-hands poo-hands poo-hands". bit dissapointed in the maestro.

good post though - thats interesting...

 

[Joab]

Monkey's only eat what their trainers feed them.

Thank BUSH for the shit in the cage.

 

[ByLoSellHi]

The endless bubble blowing Greenspan points out the obvious, and dumps a giant, steaming pile on his successor.

Nice.

 

[CalScholar]

The real concern has to be the deficit, which should have been paid down (rather than exacerbated) in the past few years while times were relatively good. With an impending recession, which I believe the market will begin reflecting within the next couple of months, the deficit can only rise. While I rarely blame (or praise) a president for the state of the economy, which can generally be attributed to the normal course of the business cycle, Bush can and should be blamed for allowing the deficit to spin out of control.

A question: during a recessionary period, is it best to sit on the sidelines and find great bargains later on? Or is shorting the way to go?

 

[cohenmichaela]

Quote from CalScholar:

The real concern has to be the deficit, which should have been paid down (rather than exacerbated) in the past few years while times were relatively good. With an impending recession, which I believe the market will begin reflecting within the next couple of months, the deficit can only rise. While I rarely blame (or praise) a president for the state of the economy, which can generally be attributed to the normal course of the business cycle, Bush can and should be blamed for allowing the deficit to spin out of control.

Reaganomics is a wonderful thing.

 

[FullyArticulate]

Did anyone actually read the article?

Greenspan: "While, yes, it is possible we can get a recession in the latter months of 2007, most forecasters are not making that judgment..."

'Greenspan said that while it would be "very precarious" to try to forecast that far into the future, he could not rule out the possibility of a recession late this year.'

This hardly seems a "WARNING". Could you imagine if he said that he could "completely rule out a recession"?

 

[Pa(b)st Prime]

The Treasury market could care less about the budget deficit. I'm painfully short Bonds and Bond calls and the long end is buoyant in the face of every conceivable bear item.

It's apparent that Treasury investors are continually worried over the health of the economy rather than paranoid over deficit levels or commodity prices.

Quote from CalScholar:

The real concern has to be the deficit, which should have been paid down (rather than exacerbated) in the past few years while times were relatively good. With an impending recession, which I believe the market will begin reflecting within the next couple of months, the deficit can only rise. While I rarely blame (or praise) a president for the state of the economy, which can generally be attributed to the normal course of the business cycle, Bush can and should be blamed for allowing the deficit to spin out of control.

A question: during a recessionary period, is it best to sit on the sidelines and find great bargains later on? Or is shorting the way to go?

 

[ktm]

Quote from niceneasy:

i agree with him - but thats a dick move to hand over a steaming pile of shit to bernacke and then yell "poo-hands poo-hands poo-hands". bit dissapointed in the maestro.

good post though - thats interesting...

...and this is Greenspan's fault because....?

I guess you know that the Federal Reserve Chairman spot has a term limit and that it was extended once due to "emergency conditions" to allow Greenspan to stay longer than is normally allowed by law. And I'm sure you are well versed in Mr. Greenspan's frequent public admonitions of each administration about the increasing deficit. Knowing all of this, I just can't figure out why you posted the above?

Maybe if Greenspan had included the term "poo hands" in more of his speeches, they would have been easier for some to comprehend.