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Politics : Impeach George W. Bush -- Ignore unavailable to you. Want to Upgrade?

To: sea_biscuit who wrote (87296)	11/25/2007 12:31:11 PM
From: tonto	Respond to of 93284

Right. There is "public" expectation that there could be a recession in the future. Not at this time. Thanks for correcting your erroneous post.

To: sea_biscuit who wrote (87296)	11/25/2007 12:48:52 PM
From: tonto	Respond to of 93284

Greenspan says flexibility cuts risk of recession Fri Nov 23, 2007 12:21pm EST By Wojciech Moskwa and Aasa Christine Stoltz OSLO (Reuters) - The economy's great flexibility has reduced the risk of recession from the subprime mortgage crisis, former Federal Reserve Chairman Alan Greenspan said on Friday. In remarks to a financial audience in Oslo, he also predicted further falls in U.S. housing prices, saying the market was some way from its selling climax. Greenspan said bipartisan deregulation of key parts of the U.S. economy, including the financial markets, had made it better able to withstand adverse shocks, ranging from the terror attacks in 2001 to the credit crunch seen in past months. "The probability of a recession would be higher than 50 percent if it hadn't been for such a remarkable degree of flexibility," he said. Greenspan said last month he saw the chances of a U.S. recession at "less than 50 percent." The U.S. corporate sector, he said, was faring "remarkably well," as were economies in other parts of the world, such as in Asia and Latin America. But he warned that the U.S. housing market was headed for further decline, undermining already battered credit markets and curbing the "wealth effect" for home-owners. "The markets are becoming aware that the decline in U.S. housing prices is not stopping. It is at an unprecedented pace compared to the last 50 years," Greenspan said at the event, organized by Norwegian broker First Securities. Continued...