Greenspan Fears "False Dawn" In US Economy, Warns Of "Equity Correction At Some Point"

Tyler Durden's picture

Equity bulls should be exuberant. The last time Alan Greenspan warned of exuberance and potential for a correction, stocks soared for a few more years. While Yellen's stock-picking skills have been questioned in recent days, Greenspan has once again weighed in:

  • *GREENSPAN SAYS 'KEY QUESTION' IS WHETHER U.S. FACES FALSE DAWN
  • *GREENSPAN PREDICTS AT SOME POINT EQUITIES TO HAVE CORRECTION

Although Greenspan declined to second-guess the Fed, he sees a problem moving toward "normalized" policy for his descendants.

 

Speaking on Bloomberg TV, Greenspan has lots to say...

  • *GREENSPAN SAYS `OPEN QUESTION' WHETHER INFLATION WILL SURPRISE
  • *GREENSPAN DECLINES TO `SECOND GUESS THE FED'
  • *GREENSPAN SEES `A LOT OF UNCERTAINTY' ON ECONOMY
  • *GREENSPAN SAYS `WE HAVE A LOT OF UNCERTAINTY OUT THERE'
  • *GREENSPAN SAYS HE'S CONCERNED BY SLOWER OUTPUT PER HOUR
  • *GREENSPAN SAYS PRODUCTIVITY WILL HAVE TROUBLE ACCELERATING
  • *GREENSPAN SEES PROBLEM MOVING TOWARD `NORMALIZED' POLICY

He is also an oil analyst...

  • *GREENSPAN SAYS OIL MARKET HAS EXCESS CAPACITY, SLACK
  • *GREENSPAN: WITHOUT MIDDLE EAST TENSION OIL PRICES WOULD FALL
  • *GREENSPAN: CRUDE WOULD BE $15-$20 LOWER IF NOT FOR MIDEAST WOES

And warns of US fiscal problems...

  • *GREENSPAN SAYS U.S. LACKS `FISCAL RESOURCES'
  • *GREENSPAN SAYS U.S. HAS `NO WAY TO FIND NEW REVENUES'
  • *GREENSPAN SAYS U.S. `RUNNING OUT OF BUFFER IN ECONOMY'
  • *GREENSPAN SAYS FISCAL POLICY MAY PUT STATUS OF DOLLAR AT RISK

And then there's this...

  • *GREENSPAN SAYS DOLLAR HELD `IN EXTRAORDINARY ESTEEM'

Except in Russia, China, Brazil, and India?

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Headbanger's picture

Moar like Red Dawn!

macholatte's picture

 

Greensapn - self admitted dunce

 

“Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity, myself included, are in a state of shocked disbelief,” he told the House Committee on Oversight and Government Reform.

http://www.nytimes.com/2008/10/24/business/economy/24panel.html?_r=0

 

"I have found a flaw," said Greenspan, referring to his economic philosophy. "I don't know how significant or permanent it is. But I have been very distressed by that fact."

http://www.theguardian.com/business/2008/oct/24/economics-creditcrunch-f...

 

LetThemEatRand's picture

What's really funny about these Greenspan quotes is that the "flaw" he found is that the short-term greed of individual executives in making as much money for themselves in as short a period of time as possible, may trump their interest in the long-term survival of the companies they head.  I mean, you can't blame the guy for not thinking of that.  Who could see that coming?

Four chan's picture

flash back to 2007 2008, greenspan hikes rates 6 consecutive times destroys us economy. fuck him

oudinot's picture

That was Bernanke, not Greenspan.  I believe Greengoat was gone in 2006.

Bananamerican's picture

That's a lotta GREENSPAN SAYS up there....
I hope they're not grooming that old gollum for a rerun

Pinto Currency's picture

 

 

 

Short circuit gold and support a fraudulent CPI then run credit market debt in the US to 380% of GDP followed by QE, you are going to get a currency collapse.

The currency collapse will surprise so yes price inflation will surprise as well.

NihilistZero's picture

Well Rand, why would you expect an Ayn Rand acolyte to have anything other than a dogmatic worldview?  Noble industrialists my ass...

GREENSPAN SAYS `OPEN QUESTION' WHETHER INFLATION WILL SURPRISE'

Of course it won't suprise, we all know it is going higher.

GREENSPAN SAYS HE'S CONCERNED BY SLOWER OUTPUT PER HOUR

Who woulda thunk that squeezing the 99% on all sides through inflation in EVERYTHING EXCEPT WAGES might burn them out and destroy worker productivity.  Not to mention worker lives, sanity, etc.

caShOnlY's picture

when an asshole speaks, they expect the morons to listen.

MeMongo's picture

Greenspan! Tribal, vile, sickening lizard man! Reminds Mongo of another self annointed tribesman, Einsteen the genius/dunce.

Anybody remember Tesla? The man not the group.

sleigher's picture

Yes, and if you are a fan of Tesla and know of the things he did, you should research Eric Dollard.  He has taken what Tesla did and expanded on it.  A modern day Tesla if you will.

MeMongo's picture

Cool thanks, just bookmarked his website, and here Mongo was just looking for something to read!!

Four chan's picture

dollards video presentations are completely amazing. that guy should be a national treasure.

Citxmech's picture

With that dickhead's record, I would not pollute myself by listening to any of the bullshit that spews from his mouth.  Fucking whore of Babylon.

t0mmyBerg's picture

There is a really interesting site about meth addict eric dollard too.  crazy.

anyway, il maestro is no einstein.  he is a sick and twisted failure of a statist.  his fascination with and errant twisted manipulation of equity indexes as a monetary tool is a horrifying anti-american legacy that has infected the already diabolical institution of the Fed.  his promotion to the head of that body is one of the worst things that ever happened.  he has legitimized the pathological tinkering worldview of the progressives.  progressive: 1) someone who wants to tell other people what to do and how to do it - 2) someone who has no problem using state power to steal property from those who they dislike to give it to those they do in pursuit of theiir utopian agenda. 

 

sleigher's picture

There is also a site about the guy who was trying to steal all his shit and put out the info about Eric.  But you know the internet...  At any rate, many of the books written by Dollard back during Borderlands time are quite good.

jarana's picture

That Green Spawn of a central banker...

fleur de lis's picture

Yeah, Greenspan is a fine one to say anything about the economy. He's part of the same inept club that controls our money for their own gain. It doesn't affect them at all--they only have to keep ripping us off. And they have the IRS to do it. And they have goons with badges to back it up. And they have the media to cover it up. It's bad enough that they are systematically looting the whole country without lecturing about fiscal anything. No one at his level has the business acumen to run a street coffee wagon. It's all smoke and mirrors.

Grande Tetons's picture

I think ole Greensperm is going senile. 

smlbizman's picture

greenspan says...love my good and plenty....

fleur de lis's picture

He's not going senile. That fast-talking blabber that he makes up as he goes along is normal for him. He probably started this in kindergarten when he successfully passed off his broken crayons on his unsuspecting classmates in exchange for something better. He's been a natural born scammer all his life like the rest of them. 

nink's picture

Who is this Greenspan guy anyway?

espirit's picture

An artifact from 'the good ole days'.

1/2/s

Ghordius's picture

a scholar of "Animal Spirits". must be a Native American. his totem are... Bubbles, and he believed he had no Prick

gatorengineer's picture

the tribesman that begun in earnest the new world order.....

ajax's picture

 

 

"Who is this Greenspan guy anyway?"

A failed musician, that's who. Oh and a proponent of Charles Keating back in the day... no one remembers how that turned out. Has the S&L Crisis been paid for yet with your tax dollars?

Cognitive Dissonance's picture

I see Greenspan has popped to the surface of his personal cesspool for a breather.

espirit's picture

Amazing how long they can hold their breath in the mud.

ajax's picture

 

 

Greenspan doesn't breathe oxygen, neither do mud dwellers.

 

Stoploss's picture

*GREENSPAN SAYS U.S. LACKS `FISCAL RESOURCES'

 

No. Alan, the US lacks FISCAL RESPONSIBILITY, that is what the US lacks.

MTAR's picture

This whole paradigm is a false dawn!!

Yen Cross's picture

 Don't expect Greenspam to croak until his predictions come to pass... That shapeshifting lizard will probably live another 100 years.

fonzannoon's picture

greenspan warns " i am old and look like a a dead mushroom"

espirit's picture

Good for a laugh, thanks Fonz.

ziggy59's picture

Mr. Magoo is the animated version of this friggin schmuck..

ajax's picture

 

 

"Oh Magoo you've done it again!"

agstacks's picture

"Declines to second guess the fed"? Really?

Dr. Engali's picture

At some point please have to correct? Thanks for that brilliant insight asshole. It's not like every pundit on CNBS or Faux news is saying the same thing.

ChartreuseDog's picture

Typical Fed trick - trying to talk the markets down rather than actually doing anything concrete.

Sudden Debt's picture

*GREENSPAN: CRUDE WOULD BE $15-$20 LOWER IF NOT FOR MIDEAST WOES

 

1. The middle east has woes for over 2000 years so don't hold your breath.

2. Oil started going up right after the creation of ICE and made the price go up to please Obama's Saudi masters. It might be bad for the servs but it gives the saudi's the much needed funds to sponsor the kids that kill the American kids.


alexcojones's picture

Alan Greenspan playing with your wallet,

Is like letting Woody Allen play with your daughter.

jay28elle's picture
  • *GREENSPAN PREDICTS AT SOME POINT EQUITIES TO HAVE CORRECTION

You mean something more than a 8 point S&P drop?  Shit... no way, man.

LawsofPhysics's picture

Have we finally reached our "irrational Exuburance II" stage?

 

Now can we execute this motherfucker?

Everybodys All American's picture

Why do people like this continue to be listened to for any advice?

MeMongo's picture

Why are they listened to?

Cuz the tribe is like the frickin E.F Hutton. And everbody knows when the tribe talks people ???