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  ThinkCash8 months ago

  I don't know about a recession...people are still spending cash like crazy.

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    quackpot8 months ago

    yeh - we have to...to feed ourselves - notice the price increases of food now days?

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      Teech8 months ago

      When you are up to your eyeballs in muddy water, water moccasins, and alligators, you're probably not on the "edge of the swamp" but right, smack, dab in the middle of it !

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        BoxMonkey8 months ago

        Ya know , Greenspan gave up that job , now he should go retire and keep his trap shut . Whether we are in a reccesion or going into one is Bernake's business now . All the negative press never really helps . That is what caused the 1929 stock market collapse . Bad press between two competitors . And that didn't work out to well except for people like J.P. Morgan .

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    nostalgia8 months ago

    Bernanke had many "but ifs" in his testimony

    Here is a fairly good article:

    Bernanke Warns of Worsening Economy

    Using words like "sluggish" and "deteriorated," Federal Reserve Chairman Ben Bernanke gave a starkly pessimistic assessment of the nation's economy

    Bernanke said that in his own economic forecast he did not predict a recession but a period of sluggish growth "followed by a somewhat stronger pace of growth starting later this year" as the impacts of the Fed's rate cuts and the $168 billion economic stimulus package of tax rebates begin to be felt.

    However, he also said there were significant downside risks ranging from the threat that the housing slide could become even more severe, the job market could deteriorate more than currently expected or that the credit squeeze will intensify.

    http://ap.google.com/article/ALeqM5hrmK0A1bWGKE...

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    Digidave8 months ago

    If I have to take Bernanke versus Greenspan - I take Greenspan. That guy had basically zenned out on the economy before he retired. Bernanke still looks a little green behind the ears (not that I'm an expert - just explaining my guy reaction).

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  nostalgia8 months ago

  Is the party over in China? Massive unemployment looms

  China watchers are predicting a drop in the GNP growth rate this year and for the foreseeable future. Most are attributing the expected fall off this year from last year's official 11.4 percent, the fifth year in a row of double digit expansion to the expected downturn in the U.S. and the world economy in general.

  http://www.worldtribune.com/worldtribune/WTARC/...

  US Subprime Crisis Costs Global 7.7 trillion Dollars

  The meltdown in the US subprime real-estate market has led to a global loss of 7.7 trillion dollars in stock-market value since October, a report by Bank of America showed Thursday.

  http://www.democraticunderground.com/discuss/du...

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  simonsez8 months ago

  Russia will be the true power house in 10 years or so. It covers 11 TIME ZONES, may include 40% of the world's supply of raw materials including oil and gas, and has a population of 145 million (half the population of the USA)

  China and India are already over-populated and will never be able to overcome this.

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    Teech8 months ago

    It's time for the Russian Mafia to go public so we can all buy stock in them and make some money.

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      BoxMonkey8 months ago

      HA! I agree . It's funny to hear [ or read in this case ] someone else say that .

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  IAmMine8 months ago

  I'll take Greenspan's word over Bernanke's....

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  quackpot8 months ago

  Hopefully, the current economic bandages will get us through the disaster of the Bush SPEND SPEND SPEND with welfare for the rich economy.

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    Teech8 months ago

    The BORROW, BORROW, BORROW, and STEAL, STEAL, STEAL, followed by the LIE, LIE, LIE was much worse than the SPEND SPEND, SPEND that has gone mostly to Bush cronies to cash in on the debacle that is Iraq.

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  Obaku8 months ago

  After all these years, suddenly Greeenspan speaks in English, and not in Delphic cryptograms?

  What's up with that?

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    GHOSTWHOWALKS8 months ago

    He's trying to retrain his brain to speak in an honest way after years of lying through his teeth?

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  TheRealizer8 months ago

  I don't have a PHD (Piled Higher & Deeper) in economics, but I have been out in the real world long enough to know that when outgo exceeds income for several periods it is not working.

  Our economic base is gutted out, we build very little, we import very much. We export lots of our ever more useless dollars, the day of reckoning is close at hand......

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  mesodude8 months ago

  Greenspan is "on the brink" of insanity...

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