Comments on: Greenspan Warns of Recession

By: Robert Reinhardt

Robert Reinhardt — Tue, 27 Feb 2007 23:10:39 +0000

I don't think Greenspan's pronouncements are self-fulfilling prophecies. The housing market is suffering because the average American can't afford the prices in the housing market. Who's to blame for that? Real estate agents? Sellers? Employers who aren't compensating employees well enough to keep pace with ever-increasing costs of living?

By: Bandit

Bandit — Tue, 27 Feb 2007 14:07:03 +0000

Eventually because of business cycles there will be a recession and if you keep posting on it every other day you'll eventually be correct.

By: DL

DL — Tue, 27 Feb 2007 14:01:30 +0000

I put his comments in the same basket as Henry Kissingers. Gurus are too often are what we make them!

By: Edgardo

Edgardo — Tue, 27 Feb 2007 06:04:36 +0000

Steve, you should have refrained to play Greenspan's latest nonsense comment on the economy. Read it a hundred times and there is nothing on it that really throws light on what is going on in the economy. Your own comment reflects that there was nothing on what he said that really provides any insight on what may happen--except, of course, that anything may happen!

Contrary to what many people think, Greenspan was a terrible Fed chairman; for example, he himself engineered the recession of 1991-92. I'm still waiting for someone to provide a detailed assessment of Greenspan's performance at the Fed, but for a long time my reaction has been very negative (one exception was the way the Fed handled the possibility of a liquidity crisis on 9/11/01).

How much has been the Fed spending for its chairman to make nonsense comments on the economy? We economists are against waste, well let me tell you that the Fed's economic analysis is a waste. The reason why many economists liked first Greenspan and like now Bernanke is that the Fed has been captured by economists (sorry, I must say macroeconomists).

By: floyd

floyd — Tue, 27 Feb 2007 03:35:58 +0000

Imagine the nagged feeling Ben Bernanke must feel daily with Greenspan constantly breathing down his neck!cheeeeesh!!

By: Christopher

Christopher — Tue, 27 Feb 2007 03:18:23 +0000

:::yawn:::

Well, I for one do not see it happening.

Since the last recession, started in the Clinton Administration, the economy went through quite a lot. For the next 3 years at least, I do not see a recession at all.

By: » OTB News

» OTB News — Wed, 31 Dec 1969 18:00:00 +0000

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