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Post by blueneck on Feb 26, 2007 17:24:07 GMT -6
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Post by unlawflcombatnt on Feb 26, 2007 18:00:37 GMT -6
Blueneck,
Thanks for posting this. I thought I heard this on TV, but I was certain that I misunderstood. Apparently not.
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Post by jeffolie on Feb 26, 2007 18:35:59 GMT -6
Greenspan calls for a recession, I call for a depression.
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Post by unlawflcombatnt on Feb 27, 2007 17:14:28 GMT -6
Greenspan calls for a recession, I call for a depression. Jeff, I agree with your assessment. Today's 416 point decline in the Dow certainly supports your assessment. So does today's 7.8% decline in Durable Goods Orders. Prices for existing homes declined 5% over the last month alone. Existing Home inventories actually increased over the last month, which is guaranteed to drive prices down even further. The only people not predicting (at least) a recession have either lost touch with reality, or are overdosed on Prozac.
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