Greenspan warns of U.S. recession risk.

[evil_gop_liars]

Former U.S. Federal Reserve Chairman Alan Greenspan warned Monday that the American economy might slip into recession by year's end.

[H8tank]

Thank you Nancy Pelosi!

[HowboutthemCowboys]

Thank you Dubya!

 

[jackshi17]

Every time this guy has opened his mouth , for the last twenty years, it has cost me money,

I wish he would just go away.

[Savage Beatings]

That's fine if you want to blame Dubya for the projected recession, but then I think you also have to credit him for the growth in the U.S. economy for the last 6 years.

 

He said the U.S. economy has been expanding since 2001 and that there are signs the current economic cycle is coming to an end.

 

Sounds like his tax cuts helped to grow the economy, but the deficit will now end or slow that growth.

[bushwacked]

That's fine if you want to blame Dubya for the projected recession, but then I think you also have to credit him for the growth in the U.S. economy for the last 6 years.

 

 

Isn't that akin to blaming George W. for gas prices but giving him credit because I'm only paying $2.35 a gallon compared to $2.68 a month ago.

[Savage Beatings]

Isn't that akin to blaming George W. for gas prices but giving him credit because I'm only paying $2.35 a gallon compared to $2.68 a month ago.

 

 

Whatever you have to tell yourself so that you give absolutely zero credit to Bush for anything positive is fine by me. Go nuts.

[bushwacked]

Whatever you have to tell yourself so that you give absolutely zero credit to Bush for anything positive is fine by me. Go nuts.

 

Now now....I certainly don't know enough about economic principles to know how much blame or credit W merits for the economic performance under his presidency. Your statement struck me as being oversimplified or at least odd/defensive.

[Jimmy Neutron]

Recession talk has surfaced two or three times in recent years and it has yet to develop. Let's hope the economy keeps rolling for a while.

 

It's positively odd to see people seemingly hope for bad ecomomic news. "Yes, hundreds of thousands of people are going to lose their jobs!"

 

I'm all for bashing Bush over wreckless spending, but tax revenue, unemployment and ecomomic growth have been pretty good.

[Wolverines Fan]

Every time this guy has opened his mouth , for the last twenty years, it has cost me money,

I wish he would just go away.

 

 

I wonder if Ben Bernanke also wishes Greenspan would go away.

Edited February 28, 2007 by Wolverines Fan

[H8tank]

Slightly over half of all Americans – 52.6 percent – now receive significant income from government programs, according to an analysis by Gary Shilling, an economist in Springfield, N.J. That's up from 49.4 percent in 2000 and far above the 28.3 percent of Americans in 1950. If the trend continues, the percentage could rise within ten years to pass 55 percent, where it stood in 1980 on the eve of President's Reagan's move to scale back the size of government.

 

 

 

http://www.csmonitor.com/2007/0416/p01s04-usec.html

 

Thank you Nancy Pelosi!

[Ursa Majoris]

Remind me again who was in charge of the White House and Congress between 2000 and 2006, somebody? I've forgotten.

[Hugh B Tool]

Remind me again who was in charge of the White House and Congress between 2000 and 2006, somebody? I've forgotten.

 

 

 

No friggin' doubt. Keep the blinders on or you are not an American. Economy rolling? My ass. The only rats left on this ship are too dumb to jump

[Randall]

Didin't he warn in 2000 that the budget surplus was too large and would adversely affect the economy?

[yo mama]

Well, in all fairness recessionary clouds are gathering. Too soon to tell if they will culminate in any kind of sustained negative economic effect, but here are some recent financial quick-hits that have me at least a little concerned:

 

- inflation isn't moderating as many have hoped. That leads to the unhappy conclusion that interest rates might have to be increased;

- The bummer there is that many were hoping that the current economic "cooling" would slow down inflation. But it hasn't been, so the Fed is unlikely to lower interest rates any time soon;

- Increases in food and energy prices keeping going up. The Producer Price Index (PPI), which measures prices at the wholesale level, rose 1% in March due in large part to these factors;

- For example, the average price of a gallon of unleaded gasoline rose .095¢ last week, and is up almost 50¢ cents since the beginning of the year;

- On the plus side, unemployment remains low (around 4.4%); and

- in tax year 2006 the IRS collected more tax revenues than its has in recent memory, which most attribute to the reduction in capital gains rates creating incentive for people to sell capital assets. Unfortunatley, reckless spending is wiping out the IRS' exemplary efforts, as evidenced by the federal budget deficit.

 

I dunno. No body wants a recession, but lots of people are getting crunched economically these days. For a lot of households pressure is coming from multiple direcitons. Part of me feels like people are (largely) getting punished for their own fiscal recklessness. But on the other hand, when the cost of education, health care, food, a gallon of gas, housing, and other of life's essentials consistantly outpaces wages, that's bad juju we shouldn't glibbly chalk up to the errors of stupid people.

Edited April 17, 2007 by yo mama

[Jimmy Neutron]

Remind me again who was in charge of the White House and Congress between 2000 and 2006, somebody? I've forgotten.

 

 

 

No friggin' doubt. Keep the blinders on or you are not an American. Economy rolling? My ass. The only rats left on this ship are too dumb to jump

 

 

[evil_gop_liars]

 

 

[Bill Swerski]

Remind me again who was in charge of the White House and Congress between 2000 and 2006, somebody? I've forgotten.

 

The same party whose tax cuts helped the nation out of the dot-com crash and 9/11-induced recession six years ago. That same party was also in power during the unprecedented economic boom of the '90s. What was your point again?

 

Political parties typically get way too much credit for strong economies and take way too much blame for weak ones.

 

Part of me feels like people are (largely) getting punished for their own fiscal recklessness. But on the other hand, when the cost of education, health care, food, a gallon of gas, housing, and other of life's essentials consistantly outpaces wages, that's bad juju we shouldn't glibbly chalk up to the errors of stupid people.

 

Now there's a much better analysis.

[Ursa Majoris]

The same party whose tax cuts helped the nation out of the dot-com crash and 9/11-induced recession six years ago. That same party was also in power during the unprecedented economic boom of the '90s. What was your point again?

 

 

The point was that the fool H8 was blaming Pelosi. Since she didn't show up until the start of this year, and the data covers previous years (stating that "Slightly over half of all Americans – 52.6 percent – now receive significant income from government programs, according to an analysis by Gary Shilling, an economist in Springfield, N.J. That's up from 49.4 percent in 2000"), I thought it was as good an opportunity as any to point out how the Repugnitards have utterly failed to enact a single one of their supposedly holy tenets despite having total control for 6 years. All we have is millions more slobbering on the gumment tit. Perhaps they were all too busy handing out billions to their cronies at Halliburton.

 

Notice how it took a Democrat president to have an "unprecedented economic boom" (your words). I'll let Wiegie weigh in on the 9/11 recession fallacy.

[evil_gop_liars]

 

Political parties typically get way too much credit for strong economies and take way too much blame for weak ones.

 

 

 

 

Gee, I wonder what party you're affiliated with...

Edited April 17, 2007 by evil_gop_liars

[dmarc117]

Notice how it took a Democrat president to have an "unprecedented economic boom" (your words). I'll let Wiegie weigh in on the 9/11 recession fallacy.

 

 

 

the boom was due to the dot.com bubble....the prez had nothing to do with it.

[evil_gop_liars]

the boom was due to the dot.com bubble....the prez had nothing to do with it.

 

 

Gee, I wonder what party you're affiliated with...

 

 

 

 

I'm starting to see a pattern.

[dmarc117]

Gee, I wonder what party you're affiliated with...

I'm starting to see a pattern.

 

 

explain to me how the prez caused amzn to got 400, aol to 300, cmgi to 500.....

[TheGrunt]

That's fine if you want to blame Dubya for the projected recession, but then I think you also have to credit him for the growth in the U.S. economy for the last 6 years.

Sounds like his tax cuts helped to grow the economy, but the deficit will now end or slow that growth.

 

It may be 'fine' to blame Dubya for the projected recession, but that still doesn't mean it's true. Our economy is doing pretty well right now and a portion of that probably does have a lot to do with the pro-business tax policies Bush passed in the last 6 years. If you honestly think Bush is to blame for what, some unpredictable, yet "possible recession"... just wait till Hillary takes the office -- things could get ugly.

Recession talk has surfaced two or three times in recent years and it has yet to develop. Let's hope the economy keeps rolling for a while.

 

It's positively odd to see people seemingly hope for bad ecomomic news. "Yes, hundreds of thousands of people are going to lose their jobs!"

 

I'm all for bashing Bush over wreckless spending, but tax revenue, unemployment and ecomomic growth have been pretty good.

 

Agreed.

[Bill Swerski]

The point was that the fool H8 was blaming Pelosi. Since she didn't show up until the start of this year

 

Ah, I see. Do youself a favor and stop arguing with H8.

 

Notice how it took a Democrat president to have an "unprecedented economic boom" (your words).

 

All I'm noticing is your simplistic, partisan soundbites.

Edited April 17, 2007 by Bill Swerski