Thread: Greenspan: U.S. economy on edge of recession

How in your face can this get! It is bad ehough that had a major roll in what is happening to our economy adn NOW he wants more foreign workers! When Greeny got knighted by the Queen of England they should have shoved that sword where the sun don't shine! TRAITOR!


http://www.dallasnews.com/sharedcontent ... 021508dnbu
sgreenspan.c1d69e5d.html

Greenspan: U.S. economy on edge of recession

08:58 PM CST on Thursday, February 14, 2008

By ELIZABETH SOUDER / The Dallas Morning News
esouder@dallasnews.com

HOUSTON - Former Federal Reserve Chairman Alan Greenspan said the U.S. is
on the edge of recession.

The mortgage crisis and high energy prices are weighing on the economy. And
if Congress caps carbon dioxide emissions, that could make things worse.

"I think we're clearly on the edge," Mr. Greenspan said at the Cambridge
Energy Research Associates annual conference. The chance of a recession is
"50 percent or better."

One thing the country could do to improve things is to allow more
immigration of skilled workers.

"Significantly opening up immigration to skilled workers solves two
problems," he said. The companies could hire the educated workers they
need. And those workers would compete with high-income people, driving more
income equality, he said.

Mr. Greenspan said the country would already be in a recession if companies
weren't in such good financial shape before the mortgage crisis hit. Most
companies don't have much need for credit, and haven't been hit hard by the
credit squeeze.

But he expects the mortgage problem to persist until housing prices
stabilize. And that won't likely happen until the inventory of new homes
dries up.

"I think we have a long way to go," he said.

Mr. Greenspan said the country isn't facing stagflation just now, or the
combination of inflation and a declining economy.

Still, he said, rising oil prices are a burden, particularly in parts of
the world that use energy less efficiently than the U.S. economy. Here,
U.S. companies are having to spend more money on energy efficiency
programs, diverting money from other things.

Capping the amount of greenhouse gases the country may emit could make
things more difficult he said, even though climate change is real. The cap
that Congress is considering could lower economic activity and cause
unemployment, he said.

"I don't think there's been enough discussion about what we mean by cap,"
he said. "There's a presumption, well, we'll solve every problem by new
technology. I wish that were true."

One technology that Mr. Greenspan endorses to address climate change is
nuclear power. Nuclear plants don't emit carbon dioxide when operating,
though Mr. Greenspan acknowledged concern about storing nuclear waste
safely.

When asked what type of fuel the power generation companies should use, Mr.
Greenspan said: "Oh, simple. They're going to have to use nuclear."

We all knew it was a false economy anyway. Bush economics 1.
It is too bad that those of us who knew still have the suffere the consequences of the ill informed in the USA.

One thing the country could do to improve things is to allow more
immigration of skilled workers.

Can someone explane to me how putting american citizens out of work will help the recession? I have always thought that massive unemployement would fuel a resesion.

Greenspan is such a fraud! He kept his damn mouth shut for 18 years...Wall St. trembled when he uttered one syllable...and all the while he was a co-conspirator in the greatest hoax every perpetrated on the public.

I remember hearing him in a press conference in 2003 saying that the 5 yr. ARMS were a better way to go than the 30 yr. FIXEd! I almost fell off my chair! What a fraud!

If he was such a true American why in the hell was he knighted by England? Hmmmm, who is his real master? You don't get knighted for nothing! Looks like England was thanking him for a job well done in helping to destroy our economy!

Originally Posted by txkayaker

One thing the country could do to improve things is to allow more
immigration of skilled workers.

Can someone explane to me how putting american citizens out of work will help the recession? I have always thought that massive unemployement would fuel a resesion.

As he stated, "those workers would compete with high-income people, driving more income equality."

More of the same...import millions of uneducated, low-skill immigrants to lower wages and force their American counterparts out of work; import more higher-skilled immigrants to lower wages and force their American counterparts out of a job...equality my _ss!!!

Maybe the mass majority of American citizens should migrate to Canada!

I have a better idea Greenbucks, lets deport all the CFR members!
Then maybe we will have a Government that represents Americans!