Greenspan foresees recession, makes endorsement

[EV_Ares]

By Christopher Hinton, MarketWatch
NEW YORK (MarketWatch) -- Former Federal Reserve Chairman Alan Greenspan has endorsed Republican Sen. John McCain for president, according to Reuters, which cited an interview in El País published Sunday.
"I'm Republican and I support John McCain, who I know very well and who I respect a lot," Greenspan reportedly said of the Arizona senator, according to El País.
The Spanish newspaper also quoted Greenspan as saying that the U.S. economy has more than a 50% chance of going into recession, according to the news service.
"We would have to see signs of this intensification: There are some, but not many yet," he commented, according to El País and Reuters. "Therefore ... I would not describe the situation we are in as a recession, although the chances that we'll have one are more than 50%."
Greenspan also said that the current period "is going to be much more difficult, from the point of view of monetary policy, than the period during which I was chairman of the Federal Reserve."

link; http://www.marketwatch.com/news/story/greenspan-endorses-mccain-foresees-us/story.aspx?guid=%7B27FBAB70%2D1E31%2D4F27%2D9FC5%2DC264F3759D64%7D

[lligrd]

1. LOL Who Would Be Stupid Enough To Take Any Advice

from the man who helped get us into this predicament? Oh yeah,there are plenty of them.

[aaroh]

2. Yeah Greenspan's interest rate cuts gave away easy credit for subprime lenders

[SunsetDreams]

3. lol no kidding

What a winner!:sarcasm: