Greenspan sees over 50% chance of recession
Enviado: 6/4/2008 12:15Alan Greenspan has been traveling overseas too much promoting his book Today he said there is over a 50% chance of a recession in the US. According to Reuters, the former Fed chairman said "I would not describe the situation we are in as a recession, although the chances that we'll have one are more than 50 percent."
If Mr. Greenspan was in the US more often he might notice that many people can no longer afford both gas and food due to inflation in commodities prices. That alone has curtailed spending among many members of the lower and middle class.
The drop-off in retail sales devils major retailers. Three US airlines have already filed Chapter 11 and that number may well rise. Auto sales were off over 14% at both of the larger American car companies.
Many stocks in major US firms are near 52-week lows and non-farm pay-rolls dropped sharply according to the most recent report. Financial institutions have cut tens of thousands of jobs,and that may get worse.
Otherwise, everything is fine.
Source : http://www.bloggingstocks.com/2008/04/0 ... recession/
If Mr. Greenspan was in the US more often he might notice that many people can no longer afford both gas and food due to inflation in commodities prices. That alone has curtailed spending among many members of the lower and middle class.
The drop-off in retail sales devils major retailers. Three US airlines have already filed Chapter 11 and that number may well rise. Auto sales were off over 14% at both of the larger American car companies.
Many stocks in major US firms are near 52-week lows and non-farm pay-rolls dropped sharply according to the most recent report. Financial institutions have cut tens of thousands of jobs,and that may get worse.
Otherwise, everything is fine.
Source : http://www.bloggingstocks.com/2008/04/0 ... recession/