"Greenspan says U.S. "on the edge" of recession"

Reuters report that "Former U.S. Federal Reserve Chairman Alan Greenspan on Thursday said the U.S. economy is "clearly on the edge" of a recession. Greenspan said the economy will continue to erode until there is a stabilization of U.S. housing prices.
"We have a long way to go" before housing prices hit a bottom, Greenspan told energy executives at the CERA conference."

He is of course correct but that goes even more for the UK, we have further to fall when the fall comes and that will not be long...

The economy is FUBAR (part 2)

I blogged recently that the crash was coming. Today Alan Greenspan is reported to be warning of increases in UK interest rates and a doubling of inflation, he also predicts a world wide increase in inflation as China starts to consume the products that it has been selling so cheaply to the West. He also predicts a fall in US house prices, something that I have been predicting in the UK for quite a while now - you can read about Alan Greenspan's prediction in the FT here and my predictions on this blog. Alan Greenspan does have a book (or books) to sell, you can read a US review here but he knows what he is talking about. Alan Greenspan is not predicting world financial meltdown, I however am; we will see who is right...

You can read the BBC article on Alan Greenspan here or look around the web for better articles, I can't do everything for you!

Listening to Alistair Darling this morning on the Today programme, I think he knows that the game is up.