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.

[WorkingClass]

The mind recoils.

[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?"

[getoffmedz]

All these Bushies on here blaming Greenspan for the graft, greed and incompetence of the Bush/Cheney administration mismanaging our once great country into the ground is sad and pathetic.

MSM works very well on tiny little minds.

[ProfessorDuh]

Bush helpfully explained last week that he can't do anything about America's many Bush-created economic problems because he lacks the necessary ability, which is the power to work magical spells.
"And so I firmly believe that, you know, if there was a magic wand to wave, I'd be waving it, of course," he said,
He later clarified his position on the question of sorcery: "I think that if there was a magic wand to say, 'OK, drop price,' I'd do that."
To be even clearer, he added: "But there is no magic wand to wave right now."
No magic wand. Got it. Yer doin a heckuva job, though, Bushie.

[wm1066]

Oh gawd, he's Mickey Mouse in the "Sorcerers Apprentice"
And we are drowning.

[WIpatriot]

But if there was one, he'd be waving it, he wants you to know.

[Grandk]

With the high rate of inflation and the crashing dollar Greenspan managed to rob the American people blind. Inflation - the hidden tax. Thank you Mr Greenspan. Please kindly STFU!

[ibsteve2u]

"Awfully pale recession"?

Does that mean it is the result of years of effort by rich white people?

(lllollll...now that's funny...I don't care who you are...)

[Rule Of Law]

Yes, funny, if the illuminati have a sense of humor...

[WIpatriot]

Unintended consequences, Rule.

[TheSecularist]

Greenspan needs to shut up. He had his chance and blew it when he supported the ill-advised Bush tax cuts for the very wealthy. I for one don't want to hear anything he has to say.

[ProfessorDuh]

Second the motion. Shut up and count your loot, you filthy old shill.

[Trittydi]

Same here - STFU Greenspan. No one cares what you think anymore.
*

[IncredulousGeezer]

Humbug !!!!!

The way they measure unemployment makes it a useless statistic. You're not considered unemployed if, after losing a $100K/yr job you go to work part time in the local Burger King for $8/hr, or if you're chronically unemployed and stop looking for work because you can't afford the gas for your car.

How can this clown who knows better than most the games that can be played with unemployment numbers make preposterous statements like this and not be challanged immediately by the MSM?