- Sep 29, 2000
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Former Fed chief Greenspan says he and others in 'state of shock' over fragile global economy
If I read much more of this I'm stockpiling weaponry and food stuffs!
OK, more commentary, then. I'd say that Greenspan may be right, but then on the other hand as substantially complicit in this crisis, I don't know how much credibility he still has.
In testimony prepared for the House Government Oversight and Reform Committee, he voiced shock over the present turn of events and called conditions deplorable.
"Given the financial damage to date, I cannot see how we can avoid a significant rise in layoffs and unemployment," Greenspan said. "Fearful American households are attempting to adjust, as best they can, to a rapid contraction in credit availability, threats to retirement funds and increased job insecurity."
If I read much more of this I'm stockpiling weaponry and food stuffs!
OK, more commentary, then. I'd say that Greenspan may be right, but then on the other hand as substantially complicit in this crisis, I don't know how much credibility he still has.