Former Fed chief Alan Greenspan talks the markets higher, saying we're finally seeing the "seeds of bottoming" in housing, and that it's "very easy to see" financial markets continuing to improve. Greenspan was one of the first to predict a recession in 2007.
so the man who was complicit in saying that there is no way to predict markets only react to them and therefore no way to deflate bubbles, is now predicting recovery. Probably because John Paulson is long distressed debt. Greenspan is now a consultant. I am amazed that commentators dont recognize how insignificant Greenspan is and stop giving him his 2 minutes of over-extended fame. Greenspan is a buffoon.
I'll never understand why people buy stocks up because one formerly influential guy said something positive somewhere. I mean, really?! It usually always pays to fade such moves.
proof that the market will use any excuse to try and go higher. this guy is the major cause of the current crisis. He has actually admitted he was wrong about many ideas, and his failure to use the taylor rule caused havoc. who cares what he has to say considering history has proven him to be a failure.
If we continue to give to give a company money it's stock will go up. WOW I guess I am now an oracle. this is what greenspan did and what bernake is doing. give it money and it will rise!!! JOKE.
This post states: "Greenspan was one of the first to predict a recession in 2007"
Not!
As late as the first two weeks of December 2007, the month NBER recognizes as the start of the current recession, Greenspan was still prognosticating about a 30% chance of a recession sometime in the near future.
Well NBER didn't declare the recessin in December 2007. Instead the beginning of the recession was announced about 10 months after that. Seems like everyone is a Greenspan basher here, but for a man who had privvy to some of the best data on our economy for 20 plus years, I think the market is right to give him his due credence.
On May 12 04:01 PM ciel wrote:
> This post states: "Greenspan was one of the first to predict a recession > in 2007" > > Not! > > As late as the first two weeks of December 2007, the month NBER recognizes > as the start of the current recession, Greenspan was still prognosticating > about a 30% chance of a recession sometime in the near future.<br/> > > www.newser.com/story/1... > > > money.cnn.com/2007/09/... > > > bigpicture.typepad.com...
This news story has 9 comments:
If we continue to give to give a company money it's stock will go up. WOW I guess I am now an oracle. this is what greenspan did and what bernake is doing. give it money and it will rise!!! JOKE.
Not!
As late as the first two weeks of December 2007, the month NBER recognizes as the start of the current recession, Greenspan was still prognosticating about a 30% chance of a recession sometime in the near future.
www.newser.com/story/1...
money.cnn.com/2007/09/...
bigpicture.typepad.com...
On May 12 04:01 PM ciel wrote:
> This post states: "Greenspan was one of the first to predict a recession
> in 2007"
>
> Not!
>
> As late as the first two weeks of December 2007, the month NBER recognizes
> as the start of the current recession, Greenspan was still prognosticating
> about a 30% chance of a recession sometime in the near future.<br/>
>
> www.newser.com/story/1...
>
>
> money.cnn.com/2007/09/...
>
>
> bigpicture.typepad.com...
I think he's been in the bath water too long and is getting all wrinkled...
Pull the drain plug, please!