Alan Greenspan was on ABC’s “This Week” with George Stephanopoulos just a few minutes ago. Though he has a ton of well received criticism for interest rate policies that have contributed to the state of affairs today, he still commands attention. To this end, here are highlights of his thoughts that I posted to Twitter and StockTwits:
Do you agree? Are you cautiously optimistic, bullish, or are we in the middle of a bear market rally?
Would love to hear your thoughts.
Regards,
George
Cautiously optimistic. Until the housing and unemployment numbers are where I’d like for them to be I will remain a sideline observer. I just don’t have the confidence to get back to my 2006 ways.
I still remain cautiously optimistic. I agree with Greenspan that “The threat of a collapse is off the table” although the global economy did come close and for that there will be wide spread repercussions. Keep in mind Greenspan’s interest rate policy played a LARGE part in creating one of the biggest asset bubbles of all time.
George,
The funny thing about economic commentary is that it has the ability to become self fulfilling prophecy. Greenspan says economy is looking better, businesses and consumers buy into analysis and are more optimistic about short term future and start to invest and spend a little more, thus helping the economy, which may in turn help to avert any catastrophe. So here’s to Greenspan and his statement about the “threat of collapse is now off the table” becoming a self fulfilling prophecy.
That aside, I think the US has a lot more pain ahead of it.
Just my 2 cents.
Paul K