Yesterday he said we could be heading for a recession. Today the DJIA takes a plunge. Prediction or reaction?
2007-02-27 05:11:58 · 7 answers · asked by Anonymous in News & Events ➔ Current Events
I know he's not the fed chief, folks, but you can't say he's not influential.
This is like George Soros 'predicting' a drop in the value of the British pound, when then happened after he announced it, and he raked in an ungodly amount of money
2007-02-27 05:24:42 · update #1
I must say that so far, the people that have responded are among the best-informed and most polite I've seen on Y!A
2007-02-27 05:27:13 · update #2
The stock plunge had little to do with him, and more to do with the Chinese exchange, oddly enough, from the news going on.
"NEW YORK (Reuters) - Stocks tumbled on Tuesday after a weaker-than-expected economic report and a sharp fall in China's main stock index unnerved investors after two consecutive days of Wall Street losses.
...
The market was hit by several negative rumors in late trade, including talk that authorities would take strong steps to cool speculative activity.
The government announced on Sunday that it had set up a top-level task force to clamp down on illegal securities trading. Authorities had already signaled that another crackdown was coming, and it is not clear how harsh it will be."
Greenspan is watched, but I think people overestimate the effect he has at times, no offense.
2007-02-27 05:24:01 · answer #1 · answered by Random Guy from Texas 4 · 0⤊ 0⤋
No one has that much power. Alan Greenspan is a shrewd observer, who evaluates circumstances, and remarks on possible outcomes. As with most financial affairs, there does come a series of peaks and valleys, so be alert to that, and respect the man's intellect, as I do. Best wishes, and hedge your bets.
2007-02-27 05:24:51 · answer #2 · answered by tylernmi 4 · 0⤊ 0⤋
Absolutely not! Alan Greenspan retired from the Federal Reserve Board a year ago.
2007-02-27 05:20:24 · answer #3 · answered by mediahoney 6 · 0⤊ 0⤋
maximum persons substitute their minds whilst confronted with fact and info, if that weren't the case technological information does no longer have made any progression and we ought to nevertheless have self assurance the organic international grow to be composed of earth, hearth, air and water. Being chairman of the fed the place you're immersed in records might substitute all and varied's theory approximately how the financial gadget works
2016-11-26 02:07:50 · answer #4 · answered by kirodimal 4 · 0⤊ 0⤋
Reaction. Greenspan isn't the man anymore, so he needs to keep his big mouth shut.
2007-02-27 05:19:51 · answer #5 · answered by sarge927 7 · 1⤊ 0⤋
no, the chinese decided to head for the exit.
2007-02-27 13:06:19 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Yep, he just couldn't stand it that no one was paying attention to him...
2007-02-27 15:41:11 · answer #7 · answered by xyz 6 · 0⤊ 0⤋