What are Leaders trying to tell us?
Greenspan warns U.S. economy near recession
By Chris OliverHONG KONG (MarketWatch) -- Former U.S. Federal Reserve Chairman Alan Greenspan said the U.S. economy was on the edge of recession and cautioned conditions would continue to erode until housing prices stabilized, according to wire reports. Greenspan, speaking before energy executives at a CERA conference in Houston Wednesday, also said the U.S. housing market was a long way from bottoming out.
Let's get this straight: conditions would continue to erode until housing priced stabilized and the U.S. housing market was a long way from bottoming out. What does that mean to you?
Is somone trying to warn us:
Monday President Bush says he is concerned about the economy
Tuesday Paulson says the worst is just beginning
Thursday Bernanke warns the economy is worsening
Paulson noted that it will take time and be painful
And tonight Greenspan's comments. Who flipped the switched?