Greenspan sees over 50% chance of recession

Allan Greenspan should know if the economy will go into a recession since his policies at the Fed are largely responsible for what is happening in the country. Make no mistake about it Greenspan will someday be remembered as the catalyst to a recession that should have never happened. The Federal Reserve has nothing to do with being regulated by the government. It's sole purpose is to do as it pleases. What can you expect from Greenspan follower of the great Ayn Rand.

In the book Maestro Bob Woodward notes that Alan Greenspan wrote a paper about whether or not he exists. Perhaps there is a 50% chance of Alan Greenspan.

If Mr. Greenspan would remember while he was incharge, he didnot even comment about the Congress of the U.S. not allowing any new refineries to be built. Nor did he even use his substantial influence to suggest that there should be less penalties for drilling for new oil reserves known to exist un U.S. soil. In this way he has contributed to the manipulated economy that we are experiencing today.

How much does Geenspan get for this BRIGHT statement tha he caused!

I would have to say that I agree with Greenspan being at least partially resonsible for our economy at this point. When the fed lowered interest rates, it didn't take into consideration American greed and exploitation. We went far beyond the bounds of opportunism in this country and now are counting the cost. But I said he's only "partially" responsible.Politicians on both sides of the isle are betraying us. They are letting U.S. corporations give our jobs away to foreigners, while CEO's get obscene "bonuses." Illegal residents can break all sorts of laws while citizens get the full extent of the law for a mere parking ticket. Republicans support the big businesses that have gone international and betray us, While Democrats are only interested in taxing us. For the first time in history, we have to import wheat like anything else because we don't produce anything anymore. Our dollar is worth nothing in the global market. People make more money on Welfare than they did having to pay for gas to get to work. Think about it. A little isolationism could be a good thing. No politician represents us anymore. We're just the pawns. None of our candidates OF EITHER PARTY for Presidency or congress are soing anything about illegal immigrants. None of them are doing anything about the gas shortage and the obscene profits of the oil companies. None of them are doing anything about the social security that we paid into and is given away so that we can't collect it. Get it? None of them are representing us!

And this is only the tip of the iceberg... RIGHT ON!

Enrique said...
I would have to say that I agree with Greenspan being at least partially resonsible for our economy at this point. When the fed lowered interest rates, it didn't take into consideration American greed and exploitation. We went far beyond the bounds of opportunism in this country and now are counting the cost. But I said he's only "partially" responsible.Politicians on both sides of the isle are betraying us. They are letting U.S. corporations give our jobs away to foreigners, while CEO's get obscene "bonuses." Illegal residents can break all sorts of laws while citizens get the full extent of the law for a mere parking ticket. Republicans support the big businesses that have gone international and betray us, While Democrats are only interested in taxing us. For the first time in history, we have to import wheat like anything else because we don't produce anything anymore. Our dollar is worth nothing in the global market. People make more money on Welfare than they did having to pay for gas to get to work. Think about it. A little isolationism could be a good thing. No politician represents us anymore. We're just the pawns. None of our candidates OF EITHER PARTY for Presidency or congress are soing anything about illegal immigrants. None of them are doing anything about the gas shortage and the obscene profits of the oil companies. None of them are doing anything about the social security that we paid into and is given away so that we can't collect it. Get it? None of them are representing us!

Someone asked about social security? Let's see, if a company made a contract with you about an annuity and you paid in all your life... and they then told you that you could not collect as planned, that would be called Fraud! But if the government does it, we accept it. I PAID into social Security for 40 years so far. Some of us worked hared to invest in Social Security. It was an investment. But this is how sincere our government is when it comes to encouraging investments. The government can't even hadle money responsibly! Someone here said that the government doesn't represent us. They are correct. This government is no longer "of the people, by the people, and for the people." We need a revoution of a third party and a limit on gampagn spending that allows someone who only makes a regular salary to run for office. That's when we'll get someone who actually represents the people, rather than their own interests

Greenspan always had a way with words.

How much more than 50/50? Hysterical!

That's the same as no opinion whatsoever! You could not be more "on the fence" than if you had no opinion at all.

To think this old fool charges $75,000 a speech. Gives us a prediction and which you could get from George Soros, or any other observer of the marketplace for nothing. Greenspan gets paid generously to tell you we are heading toward a recession??? LOL LOL He is largely responsible for the great depression to which we are being hurled by Greenspan's neglect, Bush's incompetence, and Paulson and Bernanke's cluelessness.
That is what you a reward for screwing the public at both ends of the tunnel.

Dr. Greenspan is a walking reminder to all Americans that the Federal Reserve Board should be abolished. He, the principle architect, of Bush's failed attempts to arrest the slide into oblivion received $75,000 per speech to first deny there was a housing crisis. Then later denied there was a recession. Now sells a book to say we are half-way into a recession. Soon, we can expect him to push yet another book telling us "the recession will be short and mild". LOL LOL LOL Then another book, plus $100,000 a speech, to deny we were ever in George Bush's depression!!! LOL LOL Caveat emptor.

In October of 1987 I was sitting in an Economics class at the Univ. of Md. when the market imploded. During that entire episode the professor talked about how the biggest problem would be this upstart Alan Greenspan and his lack of experience. Were the rates too low after 2000? Well smart guy if you answered yes where do you suggest they should've been? No doubt your level would've been relatively close to where my pal Al kept them at the time. People act as if the Fed is some type of mafia organization where if one doesn't agree with the Don you'll wake up with a barrel of devalued currencies stuffed in you bed. Here's the deal. Did Alan make you take out that ARM you didn't understand? Did he make you take out that home equity loan and spend it on a trip to Bora Bora? Did he make you play musical condos? He didn't tell that tanned weasel from Countrywide to give out those NINJA loans and he didn't tell Chuck Prince to have Citigroup do what it did now did he? (Not even Chuck can figure out what exactly they were doing but he's sure it wasn't as bad as the things they were doing at Bear Stearns that may or may not be as bad as things were at LTCM.) What about Moodys and the other ratings agencies? Did he tell them to ignore the obvious all the while collecting handsome fees? No fool he didn't.

But he did save your butt back in 1987 and that has made all the difference.

Beltway Greg.

PS. The only thing he didn't do was to oppose the Bush tax cuts but that doesn't make him responsible for Iraq now does it?

Greenspan is in denial and needs to go, and the Federal Reserve should be abolished before we find ourselves in the midst of a second Great Depression. The F.R. failed in its responsibility to prevent the 1929 debacle; they simply stood by while the banks crashed. They have not stopped inflation, failed to maintain stable prices and have been accused of artificial manipulation of the money supply. The F.R. has also been accused of being "this country's most corrupt institution the world has ever known". It's imperative that something is done now before WE become the big losers!