Greenspan Says The End Of The Recession Is Near

Wednesday, October 14, 2009

Alan Greenspan, the ex-Chairman of the Federal Reserve made some interesting comments regarding the health of the US economy. Alan Greenspan highlighted the sucess of the cash for clunkers program that shows that the economy is picking up.

"Former Federal Reserve chairman Alan Greenspan says the economic downturn is not quite over but that the end is nearing.

Greenspan says that the health of the financial system has improved significantly. He says the collapse of the financial system is "off the table" after the system teetered for a while.

Greenspan expects unemployment and job losses to continue but at a slower rate.

The former Fed chief says the overwhelming response to the "cash for clunkers" program shows that confidence in the economy is picking up. The program gives car owners cash incentives for trading in older, less fuel-efficient cars for more efficient models.

Greenspan appeared Sunday on ABC television's "This Week."" in CNBC.com

Lets see how the markets reacts to its current overbought siuation. I am expecting the S&P to trade lower this week even if it goes up monday or tuesday. As Jesse Livermore used to say, "the big money is on the big swing". I am going to play the big swing on the short term interest rates through 2 Year Schatz Futures.

Petroleum Oil Gas info Blog is a website for active online futures and stock traders. I will provide my real time trading decisions and my market thoughts on this webpage.

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