WSJ take on Greenspan's new book

NEW -> Contingent Buyer Assistance Program
In addition, we'll keep toying with the GDP deflator so that we can continue to count some of that inflation as "economic growth."

It's a totally new paradigm!
 
Wait a second. Does anyone know what AG did before the public life? It sounds very similar to what he is doing now but back then he wasn't that successful. That one recession out of four he got right was a fluke. Oops he missed how bad the subprime and secondary mortgage market turned out to be. Ugh can someone bring back Volcker please?
 
as a fed chairman, saying " i didn't see the subprime proglem coming" is just not acceptable in my opinion. Make it worst, I think he repeatedly said there is no bubble I remember it correctly. Now saying there is a bubble, and the housing is going down a lot more from here....I think he is too old to think straight, and the high flying on a small PIMCO jet probably is making him show his age...
 
WASHINGTON (AP) -- Alan Greenspan said the odds of a recession have grown since earlier this year, even though "the economy is not doing badly at this stage."

In an interview with The Associated Press on Monday, the former Federal Reserve chairman put the odds of a recession at greater than one in three. "But best I can judge, it is less than 50 percent," he said.

Greenspan, in the interview, predicted house prices would fall farther, although he didn't say by how much. He also again defended himself against critics who blame the Greenspan Fed for holding short-term interest rates too low for too long, feeding the housing boom.
 
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