More: Parrot's All Chime In Together
It Ain't Over Till Its Over... Following up on this weekends Parrot's All Chime In Together...
Alan Greenspan seems to be a bird of a different feather:
"We're in a recession. But this is an awfully pale recession at the moment.
The declines in employment have not been as big as you'd expect to see. We are clearly receding"
With economic growth now at about zero percent, the former Fed Head said that continued stagnation
for the rest of this year may be the best the U.S. can hope for and might even be the most likely outcome.
"That's certainly the most benevolent scenario. It's not all that far from being the most probable.
The trade-off between inflation and growth is clearly turning adverse. We're going back to where we were before the end of Cold War.
It is possible, not probable, that prices could bottom out toward the end of the year.
Until there are stabilized prices of homes, and I think they have a good way to go down, you still have prospective losses for financial companies and investors.
It's too soon to tell if the worst of the credit crunch is over."
Alan Greenspan seems to be a bird of a different feather:
"We're in a recession. But this is an awfully pale recession at the moment.
The declines in employment have not been as big as you'd expect to see. We are clearly receding"
With economic growth now at about zero percent, the former Fed Head said that continued stagnation
for the rest of this year may be the best the U.S. can hope for and might even be the most likely outcome.
"That's certainly the most benevolent scenario. It's not all that far from being the most probable.
The trade-off between inflation and growth is clearly turning adverse. We're going back to where we were before the end of Cold War.
It is possible, not probable, that prices could bottom out toward the end of the year.
Until there are stabilized prices of homes, and I think they have a good way to go down, you still have prospective losses for financial companies and investors.
It's too soon to tell if the worst of the credit crunch is over."
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