What's up with that?
2007-02-27 14:47:50 · 4 answers · asked by George 3 in Business & Finance ➔ Investing
Actually, Greenspan suggested the US could be on the verge of a recession. Even though he's no longer Chairman of the Fed, when he speaks, people still listen. Some suggest that the downturn occurred BECAUSE Greenspan predicted it.
2007-02-27 14:57:18 · answer #1 · answered by SA Writer 6 · 1⤊ 0⤋
Greenspan predicted a possible recession, which is not related to stock prices. A recession is two consecutive downward movements of the economy. The stocks will rebound- it was a selling frenzy from an already scared Wall Street that was triggered by Chinese crackdowns on options and fraud.
The recession will come though...it is inevitable. But don't think that a drop in the market is the same thing.
2007-02-27 15:00:20 · answer #2 · answered by jerry 5 · 1⤊ 0⤋
Greenspan predicted a possible recession later this year which, I think, had some impact on today's plunge.
What I find so ironic is that while the market was crashing, I saw a headline that said consumer confidence was up this month. Something went wrong somewhere....
2007-02-27 16:45:56 · answer #3 · answered by WhyAskWhy 5 · 1⤊ 0⤋
Actually a lot of financial people who follow technical analysis, called it to the exact day.
I used that advice to sell out $600,000 in stock last week
2007-02-27 14:54:04 · answer #4 · answered by bob shark 7 · 1⤊ 1⤋