First Buffett, then Greenspan, then Buffett, and now Greenspan again. Talk about a couple of pessimistic twits.
Former Federal Reserve chairman Alan Greenspan was quoted on Tuesday as saying the United States was still more likely than not to have a recession despite relative stabilization in the economy in recent weeks.
“I still believe there is a greater than 50 percent probability of recession,” Greenspan told the Financial Times in an interview published on the newspaper’s website.
“(But) that probability has receded a little and I think the probability of a severe recession has come down markedly,” said Greenspan.
I wonder how far the economy has to improve before Greenspan feels there isn’t a probably of a recession and Buffett thinks we are out of the recession he has playing in his own mind?
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Recession = two consecutive quarters of negative economic growth.
We haven’t even had one yet.
Greenspan, much like the others, is a dope.