Greenspan Says Global Recession Is `Inevitable' After `Boom'
Bloomberg is reporting "the bubble creator" continues to try and jolt the stock market.
Greenspan, who has joined three hedge funds that have profited from the housing bubble and PIMCO,
continues to profit from his bubble.The FBI, SEC and IRS should be investigating the FED and Greenspan. Why is Helicopter Ben trying to prevent a sell off in
the stock market. Why is it the FED's role to hold up inflated asset prices?
Jan. 24 (Bloomberg) -- Former Federal Reserve Chairman Alan Greenspan said he's worried that an ``inevitable'' global recession will create a backlash that forces countries to retreat from worldwide markets.
``Globalization has been extraordinarily valuable,'' Greenspan said in a speech in Vancouver sponsored by BMO Financial Group, also known as the Bank of Montreal. ``I'm concerned that if we get into some form of global recession, which after this extraordinary boom is inevitable at some point, that there will be a very significant retrenchment in the opening up of markets.''
The odds of a U.S. recession ``have definitely picked up,'' Greenspan said today. ``The probability of a recession is 50 percent or more, but we're not there yet.''
Greenspan also said the U.S. housing slump may soon be over, benefiting the economy.
``We may be close to the point where actual sales levels are starting to bottom,'' he said. The ``sooner we get to stabilization'' of the housing sector, the better for the economy, he said.
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