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Economy on brink of recession, Greenspan says
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Old 06.24.2008
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Clock Economy on brink of recession, Greenspan says
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JOHANNESBURG (Reuters) - Former Federal Reserve Chairman Alan Greenspan warned on Tuesday the U.S. economy was on the brink of a recession, with the chances of that happening at more than 50 percent.

The U.S. economy has been hit by a credit crisis which began in the sub-prime mortgage market, prompting a series of interest rate cuts to help boost the economy. But price pressures are growing, making more rate cuts unlikely.

Asked if the U.S. economy was in recession, Greenspan said: "We are on the brink."
Read More Here >> Reuters



WiseOne's Comments, ummmmmmm duhhhhhhhh, recession is putting it nicely, depression is more like it, even though it is less "politically correct."
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  #2  
Old 06.29.2008
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Hmmmmm, wonder why it took him to say that. We've all been saying it for some time now
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depression, econimic collapse, recession

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