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Tom Coburn is a Big Fat Jerk


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Saturday, November 20, 2004

Oops

Apparently he didn't mean to cause a panic. So Greenspan reverses himself.
From Reuters: Greenspan tells G20 U.S. outlook favourable-source
The outlook for the U.S. economy in the coming quarters is favourable despite a continued fall in personal savings, U.S. Federal Reserve Chairman Alan Greenspan was quoted as saying on Saturday.

According to a participant, Greenspan told G20 finance ministers and central bank governors meeting in Berlin that the U.S. savings rate was currently around zero and the transfer of savings to consumption was slowing.

He said however growth in nominal gross domestic product would continue to support wages. Overall the outlook for U.S. economic growth was moderate but sustainable, the participant quoted Greenspan as saying.

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