Greenspan has been going around telling people that the chance of a US recession has increased, but is still “less than 50/50.” Greenspan is everywhere now-a-days. He’s worse than Lindsay Lohan. [Bloomberg]
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Greenspan needs to shut his piehole. Yeah, the Constitution guarantees his freedom of speech, but when you’re the former head of the Federal Reserve, lots of people listen to what you have to say. And THAT can create self-fulfilling prophecies.
We have a Fed chief today. His name is Bernanke, and I bet he’d sure appreciate it if his attention-starved predecessor would keep quiet.
Said Greenspan on May 6, 2007:
“I was aware of the problem that if I stayed public I could make it difficult for Ben. For the most part it has worked. I was beginning to feel quite comfortable that I was fully back to the anonymity I was seeking”
So shut up already!
Worse than LL perhaps, but not quite as hot.
I just hope he’s wearing underwear.
He’s selling a book. Geez, give the guy a break.
It’s very interesting to listen to him. The guy knows more about the economy than the whole Bush Administration combined.
I am still prognosticating a 1 in 4 chance of a significant recession and a 3 in 4 chance of a technical double period recession.