Greenspan Says Falling Housing Prices Are `Nowhere Near' Bottom
Started by Slee
almost 18 years ago
Posts: 113
Member since: Feb 2007
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Thanks for the headsup about the mess you help created, Mr. ex-Chairman. Greenspan Says Falling Housing Prices Are `Nowhere Near' Bottom 2008-07-31 19:34:40.390 (New York) By Steve Matthews July 31 (Bloomberg) -- Former Federal Reserve Chairman Alan Greenspan said falling U.S. home prices are ``nowhere near the bottom'' and the resulting market turmoil isn't showing signs of ending. While the odds... [more]
Thanks for the headsup about the mess you help created, Mr. ex-Chairman.
Greenspan Says Falling Housing Prices Are `Nowhere Near' Bottom
2008-07-31 19:34:40.390 (New York)
By Steve Matthews
July 31 (Bloomberg) -- Former Federal Reserve Chairman Alan Greenspan said falling U.S. home prices are ``nowhere near the bottom'' and the resulting market turmoil isn't showing signs of ending.
While the odds of a recession are 50-50, achieving stable markets will ``take a while,'' Greenspan said today in a CNBC interview.
The economy grew at a 1.9 percent annualized rate in the second quarter after expanding 0.9 percent in the first quarter, the Commerce Department said in Washington. Gross domestic product was revised to show a contraction in the final three months of 2007.
The Labor Department said more Americans filed claims for unemployment insurance last week than at any time in more than five years. Fed policy makers have cut the benchmark rate to 2 percent from 5.25 percent since September, halting the reductions in June amid rising concern about inflation.
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Response by petrfitz
almost 18 years ago
Posts: 2533
Member since: Mar 2008
ah isnt Greenspan the guy who's fault (amoung others) that got us into this mess?
Ignored comment.
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Response by EddieWilson
almost 18 years ago
Posts: 1112
Member since: Feb 2008
Yes, he knows nothing. Only SneakyPete knows the actual bottom.
Wait, isn't SneakyPete the guy who denied that there would be a decline in the first place?
uh, whoops.
Ignored comment.
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Response by petrfitz
almost 18 years ago
Posts: 2533
Member since: Mar 2008
Eddie - please show me the decline?
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Response by alanhart
almost 18 years ago
Posts: 12397
Member since: Feb 2007
It's frothy.
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Response by EddieWilson
almost 18 years ago
Posts: 1112
Member since: Feb 2008
> Eddie - please show me the decline?
SneakyPutz, are you actually denying that there is a national housing decline?
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Response by 80sMan
almost 18 years ago
Posts: 633
Member since: Jun 2008
SneakyPetrfitz lives in Henderson, NV. The town with the highest foreclosure rate in the U.S. of A. How did Nevada do in the last Case-Shiller housing price report?
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Response by stevejhx
almost 18 years ago
Posts: 12656
Member since: Feb 2008
But Sneaky Pete lives next door to Celine Dion, whose helicopter wakes him up at night. From there - his Command and Control Center - he operates his own television production company in New York, remote controls a chauffeur-driven Prius, bangs his runway model/Shakespearean actress/trust-fund baby/singer/songwriter/puppeteer/trophy wife, knows everybody in Alpine, New Jersey and knows that they all got fired from MCI or ATT or something but can't name Main Street, knows (exactly) 15 people on Long Island or was it Greenwich Village, a slew of others throughout New York (but only if they're important), and controls vast swaths of land on the Lower East Side.
Did I forget to mention his 10,000 square foot apartment somewhere in Manhattan with a view of the Hanging Gardens of Babylon (which is where he knows those Long Island people from: Babylon).
Nothing that S.P. says is remotely credible. I had him on "ignore" for a while, but I missed the bombast.
ah isnt Greenspan the guy who's fault (amoung others) that got us into this mess?
Yes, he knows nothing. Only SneakyPete knows the actual bottom.
Wait, isn't SneakyPete the guy who denied that there would be a decline in the first place?
uh, whoops.
Eddie - please show me the decline?
It's frothy.
> Eddie - please show me the decline?
SneakyPutz, are you actually denying that there is a national housing decline?
SneakyPetrfitz lives in Henderson, NV. The town with the highest foreclosure rate in the U.S. of A. How did Nevada do in the last Case-Shiller housing price report?
But Sneaky Pete lives next door to Celine Dion, whose helicopter wakes him up at night. From there - his Command and Control Center - he operates his own television production company in New York, remote controls a chauffeur-driven Prius, bangs his runway model/Shakespearean actress/trust-fund baby/singer/songwriter/puppeteer/trophy wife, knows everybody in Alpine, New Jersey and knows that they all got fired from MCI or ATT or something but can't name Main Street, knows (exactly) 15 people on Long Island or was it Greenwich Village, a slew of others throughout New York (but only if they're important), and controls vast swaths of land on the Lower East Side.
Did I forget to mention his 10,000 square foot apartment somewhere in Manhattan with a view of the Hanging Gardens of Babylon (which is where he knows those Long Island people from: Babylon).
Nothing that S.P. says is remotely credible. I had him on "ignore" for a while, but I missed the bombast.