If Greece defaults, it will create a recession in the US.
Otherwise, there's no possibility of a recession in the US.
says Alan Greenspan.
who missed the 2008 crash, because he ducked out the year before.
Where do the errors begin?
The US is not exposed to much Greece debt,
except the CDSs which could bite.
The US is in a recession already with stagflation,
or screwflation (see other article below).
The government hasn't admitted it, for obvious reasons
and the media is asleep as usual.
Trying to pin the whole problem on the Greeks
is like trying to blame the sinking of the Titanic on
the mouse in the captain's cabin.
The whole banking system, worldwide is maxed out on
credit and inflated with fiat money.
There's no room to maneouvre when the smallest of problems comes to pass.
However, you can blame a shit-box little country
like Greece for toppling a 600 trillion dollar business,
because you can use all your racist ideas in one place
and take out your economic frustrations,
and forget to blame the banks.
Can you say 'scapegoat'.
[Greek goat. good eye!]
Interpretation: if Greenspan says that Greece could kill banks, it means that the banks are basically telling him to give that excuse because they will implode, soon. Oh, and Greenspan will thus deflect again any blame from himself.
-Costick67 ~(8^P
checkitout:
Greenspan Says Greece Default ‘Almost Certain,’ May Trigger U.S. Recession
By Vivien Lou Chen - Jun 17, 2011 12:46 AM GMT
Alan Greenspan, former Federal Reserve chairman, said a default by Greece is “almost certain” and could help drive the U.S. economy into recession.
“The problem you have is that it’s extremely unlikely the political system will work” in a way that solves Greece’s crisis, Greenspan, 85, said in an interview today with Charlie Rose in New York. “The chances of Greece not defaulting are very small.”
Greek government bonds slumped, pushing the yield on the two-year note above 30 percent for the first time, as Prime Minister George Papandreou’s failure to win support for more austerity fueled speculation the European country will fail to meet its obligations. More than 20,000 people protested in Athens this week against wage reductions and tax increases, with police using tear gas on crowds and strikes paralyzing ports, banks, hospitals and state-run companies.
The chances of Greece defaulting are “so high that you almost have to say there’s no way out,” said Greenspan, who ran the central bank from 1987 to 2006. That may leave some U.S. banks “up against the wall.”
Greece’s debt crisis has the potential to push the U.S. into another recession, Greenspan said. Without the Greek issue, “the probability is quite low” of a U.S. recession, he said.
Otherwise, there's no possibility of a recession in the US.
says Alan Greenspan.
who missed the 2008 crash, because he ducked out the year before.
Where do the errors begin?
The US is not exposed to much Greece debt,
except the CDSs which could bite.
The US is in a recession already with stagflation,
or screwflation (see other article below).
The government hasn't admitted it, for obvious reasons
and the media is asleep as usual.
Trying to pin the whole problem on the Greeks
is like trying to blame the sinking of the Titanic on
the mouse in the captain's cabin.
The whole banking system, worldwide is maxed out on
credit and inflated with fiat money.
There's no room to maneouvre when the smallest of problems comes to pass.
However, you can blame a shit-box little country
like Greece for toppling a 600 trillion dollar business,
because you can use all your racist ideas in one place
and take out your economic frustrations,
and forget to blame the banks.
Can you say 'scapegoat'.
[Greek goat. good eye!]Interpretation: if Greenspan says that Greece could kill banks, it means that the banks are basically telling him to give that excuse because they will implode, soon. Oh, and Greenspan will thus deflect again any blame from himself.
But, this is his baby.
It's got glasses and is hunched over, chanting "Ayn Ayn".
It's got glasses and is hunched over, chanting "Ayn Ayn".
-Costick67 ~(8^P
checkitout:
Greenspan Says Greece Default ‘Almost Certain,’ May Trigger U.S. Recession
By Vivien Lou Chen - Jun 17, 2011 12:46 AM GMT
Alan Greenspan, former Federal Reserve chairman, said a default by Greece is “almost certain” and could help drive the U.S. economy into recession.
“The problem you have is that it’s extremely unlikely the political system will work” in a way that solves Greece’s crisis, Greenspan, 85, said in an interview today with Charlie Rose in New York. “The chances of Greece not defaulting are very small.”
Greek government bonds slumped, pushing the yield on the two-year note above 30 percent for the first time, as Prime Minister George Papandreou’s failure to win support for more austerity fueled speculation the European country will fail to meet its obligations. More than 20,000 people protested in Athens this week against wage reductions and tax increases, with police using tear gas on crowds and strikes paralyzing ports, banks, hospitals and state-run companies.
The chances of Greece defaulting are “so high that you almost have to say there’s no way out,” said Greenspan, who ran the central bank from 1987 to 2006. That may leave some U.S. banks “up against the wall.”
Greece’s debt crisis has the potential to push the U.S. into another recession, Greenspan said. Without the Greek issue, “the probability is quite low” of a U.S. recession, he said.
