Thread: Greenspan: Slowdown Abroad Pushing U.S. to Brink

Greenspan: Slower Global Growth a Risk for U.S.

Thursday, July 31, 2008 4:03 PM

WASHINGTON -- Former Federal Reserve Chairman Alan Greenspan said Thursday that a slowing global economy may push the United States into recession, though it is not yet in one.

"I think the data at this stage in the United States are not ... suggesting recession," Greenspan said in an interview on CNBC television. But he added: "We're right on the brink and I would be more surprised if we didn't (have a recession) than if we did, given the financial state."

Greenspan said that companies were controlling inventories effectively and said that "at this stage, I think they are the major reason why in the very short term we're fending off inflationary pressures."

However, he noted that with jobless claims rising and growth overseas slowing, it would be hard for the United States to avoid slipping into recession.

http://moneynews.newsmax.com/headlines/ ... 17972.html

Does Greenspan truly think Americans believe a word he says? or Better yet even cares what he says? Hasn't he been paid enough by us and his bosses?

What does growth mean besides more loss of American jobs to overseas labor and more importation of cheap labor? There is a myth around this growth, free trade thing that only benefits corporations.

Personally, I think another scenario is possible. Perhaps it's our economical insolvency that is dragging down the rest of the world.

WE ARE IN A RECESSION AND EVERYONE KNOWS THIS. THEY THINK IF THEY KEEP TELLING US EVERYTHING IS OK...WE WILL SPEND MONEY. BUT WE KNOW ITS NOT OK.

A few months ago he said (in reference to the sub-prime debacle):

"I DIDN'T SEE IT COMING"!!!

Greenspan should be behind bars!!!