Greenspan predicts recession in US - by Peter Ryan
As the credit crisis continues to bite around the world, two eminent economists have predicted the United States will most likely fall into a recession next year. The former chairman of the US Federal Reserve, Dr Alan Greenspan, says a recession is a 50 per cent chance while the chairman of the global investment bank Morgan Stanley, Stephen Roach, is tipping an even greater risk.
The gloomy predictions from Dr Greenspan and Mr Roach confirm a bumpy start to the new year with evidence mounting each day that the carnage from the global credit crunch will not just be felt in the US and Europe, but also in Australia.
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