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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (80597)	6/25/2008 9:34:08 AM
From: elmatador	Read Replies (1) of 116555

Paulson views conflict with Greenspan's: Former Federal Reserve Chairman Alan Greenspan warned on Tuesday the U.S. economy was on the brink of a recession, with the chances of that happening at more than 50 percent. The U.S. economy has been hit by a credit crisis which began in the sub-prime mortgage market, prompting a series of interest rate cuts to help boost the economy. But price pressures are growing, making more rate cuts unlikely. Asked if the U.S. economy was in recession, Greenspan said: "We are on the brink." A quick recovery was unlikely, he said via video link to a conference in Johannesburg. "A rebound at this stage is not something I think is in the immediate outlook," he said. reuters.com Paulson said on Tuesday that the global economy was being strained by costly energy but said U.S. economic fundamentals were sound. In an interview on Mexican television, Paulson said he thought that most of the slump in U.S. housing prices would be over by year-end and that growth should be stronger by then reuters.com

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