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Greespan Just Spoke: Recession Risk Now 50%-ish

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Greenspan: Recession risk upMon Sep 17, 2007 4:07 PM BST

By Mark "Mark" Felsenthal

WASHINGTON (Reuters) - Risks of a recession have increased, but the Federal Reserve must be cautious in supporting the economy because global forces that have kept inflation in check are receding, former Fed Chairman Alan Greenspan said on Monday.

"Earlier in the year, I was talking about a one-third probability of a recession," Greenspan told Reuters. "It's come up somewhat, but it's still at this stage somewhat less than 50 (percent)."

He will be at 75% risk soon. IMO a recession is the least it will be. Recession means job losses, lots of them. That means lower rents and much lower house prices. The Miracle economy is dead and is soon to be taken to the mortuary for preparation for burial.

I think Brown will eventually be told to take ownership for it. I bet "they" put the Foreign Secretary in?

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