Comments on: Greenspan Speaks: U.S. Economy in a Recession http://www.fivecentnickel.com/2008/04/10/greenspan-speaks-us-economy-in-a-recession/ personal finance tips, tricks, and commentary Sat, 21 Nov 2009 22:51:28 -0500 http://wordpress.org/?v=abc hourly 1 By: thomas http://www.fivecentnickel.com/2008/04/10/greenspan-speaks-us-economy-in-a-recession/comment-page-1/#comment-116413 thomas Mon, 14 Apr 2008 06:38:13 +0000 http://www.fivecentnickel.com/2008/04/10/greenspan-speaks-us-economy-in-a-recession/#comment-116413 how the F do you get to call this a recession without the 2 straight quarters of falling GDP? I don't care if we are "about to" go into one, we are not in one - yet. Maybe they'll just make up a new number or name for this, like "core recession" or some crap like that. Only the government can make up as much crap as they do. Am I the only optimist here? I'd like to think that we really aren't going to get hit hard. Sure, some groups are going to get bent over without the possibility of getting a hug or even a call the next day. But let's face it - they probably don't deserve it. how the F do you get to call this a recession without the 2 straight quarters of falling GDP? I don’t care if we are “about to” go into one, we are not in one – yet.

Maybe they’ll just make up a new number or name for this, like “core recession” or some crap like that. Only the government can make up as much crap as they do.

Am I the only optimist here? I’d like to think that we really aren’t going to get hit hard. Sure, some groups are going to get bent over without the possibility of getting a hug or even a call the next day. But let’s face it – they probably don’t deserve it.

]]> By: Anitra http://www.fivecentnickel.com/2008/04/10/greenspan-speaks-us-economy-in-a-recession/comment-page-1/#comment-116385 Anitra Fri, 11 Apr 2008 18:11:56 +0000 http://www.fivecentnickel.com/2008/04/10/greenspan-speaks-us-economy-in-a-recession/#comment-116385 AndyS: Making more mortgage payments only helps you if you end up needing to sell your house, or are near the end of your mortgage. For people who recently bought a home, within their means, it's wiser to save up cash than to put it towards the mortgage. That way, you will still be able to PAY your mortgage if something goes wrong (job loss, etc.) AndyS: Making more mortgage payments only helps you if you end up needing to sell your house, or are near the end of your mortgage. For people who recently bought a home, within their means, it’s wiser to save up cash than to put it towards the mortgage. That way, you will still be able to PAY your mortgage if something goes wrong (job loss, etc.)

]]> By: AndyS http://www.fivecentnickel.com/2008/04/10/greenspan-speaks-us-economy-in-a-recession/comment-page-1/#comment-116383 AndyS Fri, 11 Apr 2008 17:53:48 +0000 http://www.fivecentnickel.com/2008/04/10/greenspan-speaks-us-economy-in-a-recession/#comment-116383 I agree with the previous comments and Alan G's comments - we are heading for a very rough time. This is the time you need to plan for the worst (eg having 50% in cash or investments outside the states). Make more mortgage payments if possible as well to give yourself a buffer as well. I agree with the previous comments and Alan G’s comments – we are heading for a very rough time. This is the time you need to plan for the worst (eg having 50% in cash or investments outside the states). Make more mortgage payments if possible as well to give yourself a buffer as well.

]]> By: Ron@TheWisdomJournal http://www.fivecentnickel.com/2008/04/10/greenspan-speaks-us-economy-in-a-recession/comment-page-1/#comment-116377 Ron@TheWisdomJournal Fri, 11 Apr 2008 15:38:39 +0000 http://www.fivecentnickel.com/2008/04/10/greenspan-speaks-us-economy-in-a-recession/#comment-116377 I would've thought someone like Greenspan would be much more professional than this. Sounds like he wants to "protect his legacy." Oddly enough, Businessweek has Uncle Ben on the cover. Could Alan be jealous? Doesn't he know the definition of recession? Recession isn't slow growth or even zero growth. It's two consecutive quarters of negative GDP growth. So far, we are not in one officially. We're definitely in one emotionally, though. I would’ve thought someone like Greenspan would be much more professional than this. Sounds like he wants to “protect his legacy.”

Oddly enough, Businessweek has Uncle Ben on the cover. Could Alan be jealous? Doesn’t he know the definition of recession?

Recession isn’t slow growth or even zero growth. It’s two consecutive quarters of negative GDP growth. So far, we are not in one officially. We’re definitely in one emotionally, though.

]]> By: Matt http://www.fivecentnickel.com/2008/04/10/greenspan-speaks-us-economy-in-a-recession/comment-page-1/#comment-116375 Matt Fri, 11 Apr 2008 14:49:21 +0000 http://www.fivecentnickel.com/2008/04/10/greenspan-speaks-us-economy-in-a-recession/#comment-116375 Good, at least we know they screwed us "professionally"! Good, at least we know they screwed us “professionally”!

]]> By: Matt http://www.fivecentnickel.com/2008/04/10/greenspan-speaks-us-economy-in-a-recession/comment-page-1/#comment-116374 Matt Fri, 11 Apr 2008 14:25:35 +0000 http://www.fivecentnickel.com/2008/04/10/greenspan-speaks-us-economy-in-a-recession/#comment-116374 Greenspan was a fool. It was his direct lending policy that caused the housing market crash. He has been declaring all of this as not his mess even before he left his position. One thing he did do right, was to leave his position when he saw how much he screwed it up, instead of staying in to try to correct it. You don't just leave Fed rates low for years, then hike it back up and leave office. UGGHHHH, he even wrote a book about how it wasn't his fault. I hope he takes his guilt to his grave. Greenspan was a fool. It was his direct lending policy that caused the housing market crash. He has been declaring all of this as not his mess even before he left his position.
One thing he did do right, was to leave his position when he saw how much he screwed it up, instead of staying in to try to correct it. You don’t just leave Fed rates low for years, then hike it back up and leave office.
UGGHHHH, he even wrote a book about how it wasn’t his fault. I hope he takes his guilt to his grave.

]]> By: Curt at PennyJobs.com http://www.fivecentnickel.com/2008/04/10/greenspan-speaks-us-economy-in-a-recession/comment-page-1/#comment-116363 Curt at PennyJobs.com Thu, 10 Apr 2008 19:16:15 +0000 http://www.fivecentnickel.com/2008/04/10/greenspan-speaks-us-economy-in-a-recession/#comment-116363 This is just the beginning of a long recession. Just like the great depression started in 1929 and it took until 1931 for the stock market collapsed. 2008 is like 1929, just wait until 2011. This is just the beginning of a long recession. Just like the great depression started in 1929 and it took until 1931 for the stock market collapsed. 2008 is like 1929, just wait until 2011.

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