Greenspan: U.S. In "Awfully Pale Recession"

The United States has fallen into an "awfully pale recession" and may remain stagnant for the rest of the year, former Federal Reserve chairman Alan Greenspan was quoted on Monday saying.
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"We're in a recession," Bloomberg news agency reported Greenspan had said in a television interview. "But this is an awfully pale recession at the moment. The declines in employment have not been as big as you'd expect to see."

Last week a government report showed employers shed jobs in April at a slower rate than had been feared, providing some relief about the slowing economy.

Read the whole story here.

Comments

[dadw5boys]

Greenspan if you had told G.W. BUSH "HELL NO" when he ask you to make that bug drop in interest rates before you retired we would not be here!!!

[joebhed]

why does HUFFPO say my comments have already been posted, when neither I nor anyone else has posted these comments?

[joebhed]

what the hell does wait for moderation mean/

[swift_goat_pet_for_truth]

Note to Mr. Greenspan

RE: "Pale Recession"

To quote the great American philosopher, Yogi Berra: It ain't over 'til its over."

[Gary47]

Now if that ain't the pot calling the kettle black!

[WIpatriot]

He could have said the US is in a "wrinkly" recession....

[wm1066]

That was funny !

[ajax2]

Alan, when you cook the books so that the government can claim inflation is 2.6%, no one is going to believe anything you say.

[WIpatriot]

There are some....

[WorkingClass]

Greenscam is no longer being paid to lie to us and mislead us. Why is he still doing it? Is he a fool? Is he an as* hole?

[lizr]

trying to protect his "legacy"

too late for that!

[WIpatriot]

It was too late back in the 80s for that.

[DFDoerr]

What an article.
Reminds me of "News for Moonbats".
"No moonbats were killed in a five car pileup on the M-5 today..."

[WIpatriot]

Daddy, what's a moonbat?

[therealredstateblues]

This charlatan needs to just shut the h@ll up and retire- he has already done enough damage to our country's economic health

[doneflyin]

Alan, your former mentor, Ayn Rand is rolling in her grave.
She was a crackpot but she wasn't a lying crackpot.

You Sir, are just another Global/Corporatist shill. STFU!
.Just go away and enjoy your ill gotten gains and your wife's celebrity.

[dadw5boys]

Ayn Rand known as the quest who would never leave. Lived off the wealthy like a leech.

[Trittydi]

The re-PIG-lics must be paying Greenspan to go out there and say these things. Either that or he himself believes he's still relevant. This man has no credibility left.
*

[ErnestineBass]

Greenscam needs to pull his lower lip up over his forehead, and swallow.

[WIpatriot]

Bwahaha...coffee on monitor, EB.

[thacher]

Recession at 5% unemployment? Lol...

[bigogre]

"Recession at 5% unemployment? Lol..."

If unemployment in the US were calculated with the same criteria used in Europe, Canada, Australia, Japan etc. it would probably be around 15-20%

[dolphy]

You really believe unemployment is 5%? If you do, I have a bridge in SF to sell you.

[toby25]

What are the real numbers then? What are you suggesting there is some conspiracy to report phony numbers?? ...just like The 2004 election was rigged and 911 was an inside job by the U.S. Government??

[ErnestineBass]

If you believe that figure, then you're a fool.

[WIpatriot]

Not even if....

[Rule Of Law]

Greenspan is like "Kleenex" now; He's a brand name that the press unrolls and wads up to make a story. He doesn't work in government any more so his opinions mean zilch; his policies gave us this recession so his authority is a bit "pale"; and other than being freakishly tall, what other attributes has this Friedman acolyte ever had than being able to take simple notions and much them all up?

[WorkingClass]

With respect, He never did work in government. The Federal Reserve is a private entity.

[WIpatriot]

And yet Paulson gives the speech about turning over total economic policy to the Fed, the not-a-government-agency company. They're all the biggest crooks you can imagine.

[donjoe4]

He's old and confused

[Trittydi]

Agreed. Can I add "stupid"?
*

[elpollo]

Maybe not stupid. After all, he invented a whole new language - Fedspeak. How about "evil?"