Quantcast

Sh*ty News from Greenspan

Alan Greenspan former chairman of the federal reserve bank and US native economic genius warns that we could be headed for a second recession. Greenspan said that the slow in the economic recovery feels like a “quasi-recession” and the economy could take a downward turn if home prices continue to decline.

“We’re in a pause in a recovery, a modest recovery, but a pause in the modest recovery feels like a quasi-recession,” Greenspan said on NBC’s Meet the Press

With home sales falling for a second month and no more government tax credit for home buyers people are starting to get worried about recession 2.0. The last thing anyone in this country wants to do right now is return to the worst recession since the 1930s. According to Greenspan its all about home prices.

“If home prices stay stable, then I think we will skirt the worst of the housing problem,” Greenspan said. “But right under this current price level, mainly 5, 7 or 8 percent below, is a very large block of mortgages, which are underwater, so to speak, or could be underwater. And that would induce a major increase in foreclosures, foreclosures would feed on the weakness in prices, and it would create a problem.”

One Response to “Sh*ty News from Greenspan”

  1. Tim Burdett says:

    he will prob die before another recession…

Leave a Reply

*

Catch Up on World News!
Breaking news from around the globe, brought right to you by our amazing journalists!
Watch Videos!
Watch the funniest, coolest, most amazing viral videos in Print Killer's video section!
Watch the Latest Music Videos!
A collection of the best new music videos on the planet, brought you from our music writers!
Watch FAIL Videos!
The funniest most bone crushing Fails you will ever see!

Sponsors

Killer Jam of the Day!

Sponsors

Killer Babe of The Day!

Follow

Get every new post delivered to your Inbox

Join other followers