Greenspan Says Chance of Recession is 50%

Odds of the us resession are less than half.  Greenspan stated today when asked about whether or not the international growth would slow down that “we certainly expect something because the lesser developed countries are doing exceptionally well.” He also said that it hasn’t slowed down yet but you cant expect to have a 10 percent annual rate of increase. He stated that the crucial issue is that the developing countries are moving so rapidly, and that a third of the earnings in the US are coming from abroad.

He also stated that even though the credit crunch’ is easing it still is having an effect on the LIBOR. “The odds of a recession is 50/50″ Greenspan stated on CNBC today.

Watch the CNBC video from Greenspan’s earlier interview about the Chance of Recession here.