tag:blogger.com,1999:blog-11719208.post5773116210932481376..comments2023-11-05T04:36:14.223-08:00Comments on The Mess That Greenspan Made: Greenspan recession probability update alert!Timhttp://www.blogger.com/profile/16530974968126497397noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-11719208.post-71444330856329387222008-06-15T13:03:00.000-07:002008-06-15T13:03:00.000-07:00Little Larry,Hmm…Which horse to back?You? Or, the ...Little Larry,<BR/><BR/>Hmm…<BR/>Which horse to back?<BR/><BR/>You? Or, the professionals at The Conference Board who, for “<A HREF="http://www.conference-board.org/aboutus/about.cfm" REL="nofollow">over 90 years</A>”, have made their living providing accurate economic forecasts?<BR/><BR/>Gee, tough choice! But, I think I’ll go with <A HREF="http://www.conference-board.org/economics/stalk.cfm#forecast" REL="nofollow">the forecast</A> from The Conference Board.<BR/><BR/>Earlier this year, when your side was warning that we were already in recession and that it would be “<A HREF="http://www.google.com/search?hl=en&lr=&as_qdr=all&q=recession+%22worst+since+world+war+II%22" REL="nofollow">the worst recession since World War II</A>”, The Conference Board quietly (because <A HREF="http://www.conservativebookservice.com/products/bookpage.asp?prod_cd=C5866&sour_cd=MRB000101" REL="nofollow">the media</A> had no interest in hearing it) predicted 0.4% GDP growth for Q1 of 2008. The <A HREF="http://www.bea.gov/newsreleases/national/gdp/2008/gdp108a.htm" REL="nofollow">“advance” report</A> was 0.6% and the <A HREF="http://www.bea.gov/newsreleases/national/gdp/2008/gdp108p.htm" REL="nofollow">“preliminary” report</A> report bumped that up to 0.9%. The “final” report for Q1 is due on 6/26/08.<BR/><BR/>So, if anything, this suggests that the forecast from The Conference Board for continued economic growth through 2008 and 2009 may be understated.<BR/><BR/>I know it will make you sad, but it looks like your side failed to talk the nation into recession. Thank goodness for that.<BR/><BR/>Sorry Larry Little, but the sky is NOT falling!SBVORhttps://www.blogger.com/profile/02393495680438358951noreply@blogger.comtag:blogger.com,1999:blog-11719208.post-50016559935058978532008-05-27T12:18:00.000-07:002008-05-27T12:18:00.000-07:00Just like professional wrestlers, Greenspan should...Just like professional wrestlers, Greenspan should have theme music playing whenever he enters a room. Is it too late to request Fleetwood Mac's "Little Lies" as his theme song?<BR/><BR/>sbvor,<BR/><BR/>Keep telling yourself that the government doesn't manipulate data to no end. As for media "hysteria", it is a selective outcry in an election year that misses the big picture. In reality, we're not talking about the probability of a recession, we're talking about the probability of a complete economic meltdown and the end of the "American way of life" as we know it.<BR/><BR/>Get back to us by the end of the year and let us know how you think 2008 turned out.Anonymousnoreply@blogger.com