Greenspan: Odds of recession are climbing
source: http://money.cnn.com/2007/12/13/news/economy/greenspan_economy.ap/index.htm?section=money_la...
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http://money.cnn.com/2007/12/13/news/economy/greenspan_economy.ap/ind...
Former Federal Reserve Chairman Alan Greenspan says the odds the U.S. will fall into a recession are "clearly rising" and he believes economic growth is "getting close to stall speed."Greenspan, who ran the central bank for 18 1/2 years, until early 2006, explained that a severe slump in the housing market, a stubborn credit crisis and turbulence on Wall Street are endangering the country's economic health.
Growth in the current October through December period is expected to have slowed to a feeble pace of just 1.5 percent, or less.
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JanforGore
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This may sound a bit cruel, but if it comes I hope the hoarders and opportunists go down hard. Their hubrus should now be their downfall. The only bad thing about that is we all will fall regardless of how close we are to the bottom already. I predict when the falls comes it will be hard, but perhaps that is what is now needed to wake some people up? Too many in this country still have it too good to give a damn, and that too relates to the climate crisis. It hasn't hit them personally yet. But hey, I have an idea. How about we stop paying sports stars, politicians, and celebrities millions upon millions of dollars and begin really appropriating the money equitably? Nothing makes me sicker than to see an athlete or a celebrity whining while they rake in millions just to shoot a music video or throw a ball in a hoop. It is surreal to me thinking of a minimum wage worker sitting on his sofa on a Sunday adoring these prima donna athletes who make millions while he can hardly afford to make ends meet. This country's priorities are screwed up, and now we are paying for it.
- 5 years ago
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JanforGore
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twodee
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Thank for the post. I have posted many things like this in the past that have gone ignored. I guess you gotta be staff or know someone around here to get yourself listened to. Very frustrating. Anyway. I agree with Martin in this video. He is dead on with this topic. This argument is much like the global warming debate in its' early stages. The thing is, we humans only want the happy talk. We can stick our fingers in our ears and go "la la la" all we want but was is coming will not stop unless we get wise to it. If you want a positive spin to the story you will get it when you start engaging in the subject matter in a real way and participate in changing the economic and environmental issues. The positive side is when you see the poor get their share, when your see a rainforest and saved from destruction, when you see an illness get treated.
- 5 years ago
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twodee
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phillyharper
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The 20 year party is over. Get growing your own vegetables and stock up on tuna! The poor wave is coming!
If we do go into recession, I really want it go with a bang....is that insensitive?
By the way I do not agree with a great deal of the things said in the video I have posted. I think they are hijacking a social event to sell a political message - communism....
- 5 years ago
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phillyharper
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