Arab Today, arab today greenspan sees negative market take on downgrade
Last Updated : GMT 07:01:29
Arab Today, arab today
Arab Today, arab today

Greenspan sees negative market take on downgrade

Arab Today, arab today

Arab Today, arab today Greenspan sees negative market take on downgrade

Washington - AFP

Former US Federal Reserve chairman Alan Greenspan said Sunday he believes the financial markets will react negatively to the downgrade of the US credit rating, and will take "a while" to settle. "Considering the momentum in which the market went down over the last week, it's very unlikely -- if history is any guide -- that this isn't going to take awhile to bottom out," Greenspan said on NBC's "Meet the Press" show. "So the initial reaction, in my judgment, is going to be negative," he said. Standard and Poor's lowered the US credit rating from a sterling AAA to a AA+ rating on Friday largely because of the failure of bitterly divided US leaders to reach a consensus on containing the country's spiraling debt. The credit downgrade "hit a nerve," an indication "that there is something basically bad is going on. And it's hit the self-esteem of the United States, the psyche. It's having a much profounder effect that I conceive could happen." Greenspan said he does not expect a "double dip" recession but said: "With all of this bickering going on, the economy is slowing down -- you can see it in all of the data." "This deficit problem that sits out there is much larger than we've been calculating, because the actual numbers employed by those who are calculating the deficits are based on a level of economic activity which we are not achieving." Greenspan, however, said that US Treasury bonds are still a solid investment. "This is not an issue of credit rating. The United States can pay any debt it has because we can always print money to do that. There is zero probability of default," Greenspan said. Any chance of a 'double dip' recession now depends on Europe, Greenspan said. "The United States was actually doing relatively well, sluggish, but going forward until Italy ran into trouble, that destabilized the European system and the crisis reemerged," he said. "When Italy showed signs of weakness and selling its bonds -- the yield is now over 6 percent, which is an unsustainable level -- it created a massive problem in Europe because Italy is a very large country, cannot be easily bailed out and indeed cannot be bailed out."

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today greenspan sees negative market take on downgrade Arab Today, arab today greenspan sees negative market take on downgrade

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today greenspan sees negative market take on downgrade Arab Today, arab today greenspan sees negative market take on downgrade

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today US travel restrictions are still 'Muslim ban'

GMT 00:54 2017 Tuesday ,26 September

US travel restrictions are still 'Muslim ban'
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel builds settlements 'at high rate'

GMT 01:04 2017 Tuesday ,26 September

Israel builds settlements 'at high rate'
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Personality study finds fish have hidden depths

GMT 00:43 2017 Tuesday ,26 September

Personality study finds fish have hidden depths
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Botanical gardens a lifeboat

GMT 02:50 2017 Tuesday ,26 September

Botanical gardens a lifeboat
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Chevrolet's first 9-speed auto debuts

GMT 18:58 2017 Monday ,25 September

Chevrolet's first 9-speed auto debuts
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Conditions growing dire    

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:02 2017 Sunday ,24 September

Harry visits mental health hospital

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday