02/15/08: Greenspan says U.S. "on the edge" of recession

Sounds like it's time for Bush to get on TV and lie some more about how great the economy is doing.

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HOUSTON (Reuters) - Former U.S. Federal Reserve Chairman Alan Greenspan on Thursday said the U.S. economy is "clearly on the edge" of a recession.

Greenspan said the economy will continue to erode until there is a stabilization of U.S. housing prices.

"We have a long way to go" before housing prices hit a bottom, Greenspan told energy executives at the CERA conference.

Greenspan again -- as he had last month -- said that the likelihood of the U.S. economy going into recession was "50 percent or better."

He said the U.S. economy was growing at "stall speed."

http://news.yahoo.com/s/nm/20080215/bs_nm/cera_energy_greenspan_dc

Responses to this message:

• Greenspan is a liar Scumby
• If that's the case, then he's hardly a 'liar', now is he? Throwing_Muses

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