Monday, January 26, 2009

Crystal Ball, Anyone?

It was on January 26th that Federal Reserve Chairman, Alan Greenspan, made the following comment about the chances of a recession, in testimony to the Senate Budget Committee:
"It is a low probability. Recessions are low probability, they are rare and they happen for numbers of different reasons."
What's especially fascinating is that those comments were made on January 26, 2001, at the very beginning of the first Bush term.

No comments: