Greenspan: Recession Odds ‘Clearly Rising’

Well, finally one of the Big Boys admits things are not as they appear or as the government has been making them out to be.  Hell everyone across the nation has been feeling , murmuring and even saying it out loud that we are headed towards a recession. If you ask me I think they are still scared to mention the “D” word, DEPRESSION! ECONOMIC DEPRESSION!

On   2007-12-11 3:19:37 pm I posted: Grapes of Wrath : Circa 2007 where I spoke of my observations of what I feel is the downward economic spiral into a full blown depression. Well I’m no economist, just a plain man observing the people and conditions around me and what I have been observing is an ongoing deterioration of our economy. Being in the tropics our economy is largely dependent on the U.S. and as the saying goes, “ Shit rolls downhill” we are on the receiving end! Many from the island have made moves to the states but frankly it is no better and you have to contend with the bitter cold in many places. Well you can read what I wrote here but I would strongly suggest that you continue and click on the links below to get some real expert opinions and commentaries.

 

The Roots of the Mortgage Crisis

Morning Edition, December 14, 2007 · Global forces beyond the Federal Reserve’s control helped fuel the bubble that led to the current housing meltdown, former Fed Chairman Alan Greenspan said Thursday. In an NPR interview, Greenspan also said that the odds of a recession are “clearly rising.”t: More…

Then go to these blogs:

Krugman Blog New York Times

Jeff Matthews Is Not Making This Up

Calculated Risk

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