Greenspan sees turmoil similar to 1987, 1998: report
122834
Former Federal Reserve Chairman Alan Greenspan said the current market turmoil is "identical" in many ways to that which occurred in 1987 and 1998, the Wall Street Journal reported in its online edition on Friday.
93359
Federal Reserve Chairman Alan Greenspan said yesterday that higher oil prices have had a &quot;noticeable&quot; affect on the US economy this year but are not likely to cause serious damage unless they move significantly higher.
712146
(InfoWorld) - Former Federal Reserve chairman Alan Greenspan is hitting the airwaves promoting his new book, but his comments in recent interviews about the possibility of a recession might be scarier to IT folks than anything in the new tome. Greenspan, who has become a Federal Reserve chairman emeritus of sorts, might be more objective now that he is out of his federal role. He told the Wall Street Journal yesterday that he thought the probability of a recession is "slightly more than a third," up from merely a third, as he put it earlier this year. For IT professionals and CEOs of major software and hardware vendors, the prospect of a recession any time soon is downright daunting, given that memories of the 2001-2002 dot-com bust are still fresh. If housing price declines and the troubles with home mortgage lenders precipitate a longer economic downturn in the next year, the effect could roughly halve the 12-year cycle many economists track for upturns and downturns, some observers noted yesterday. "I'm certainly concerned with the housing downturn," said IT market analyst Jason Sajko, who studies government spending on IT for consulting firm Input. "But I don't see that creating something like what we felt in 2001 and 2002 so soon after then. I don't think we'll see an impact of that magnitude." Sajko and Input do frequent analysis of federal, state, and local spending on IT products and services. A month ago, Input said it was still projecting strong growth in state and local government spending in the United States on IT products and services into 2012, increasing from $43.9 billion in 2007 to $67.2 billion in 2012. That analysis was able to track the impact of the general economy, including the news in the last six months over housing market problems. In a small update to that analysis yesterday, Sajko said that state and local governments are also beginning to use a new catalog of IT vendors and prices called Schedule 70 provided by the U.S. General Services Administration. The GSA provides the catalog as a resource to thousands of state and local IT purchasing managers, Sajko explained. For Schedule 70, growth in IT spending among local and state governments will increase nearly 25 percent a year to 2012, exceeding $1 billion. While $1 billion is a small portion of the total spending in that category, it shows primarily a shift in the way spending will be done, not so much the overall level of spending related to the larger IT economy, Sajko said. Still, state and local spending on IT can be seen as a "more stable" area for IT spending in coming years than others, Sajko said. Several CEOs in recent days have said in interviews with Computerworld that they are carefully watching the direction of the general economy. They said they learned from the dot-com bust to adapt their products to the most successful market segments in order to weather downturns. For example, Maria Ligeti, CEO of startup React Systems in Roseville, Calif., said yesterday she has profited from observing the IT industry's upturns and downturns in Silicon Valley for more than 20 years while working in various roles. A new product and service her company is launching soon in emergency communications will be marketed to several vertical industry segments. She said the offerings have been fostered over several months by early adopters, she said. "We think we'll be somewhat immune" if there's a downturn, she said with confidence.
441915
Alan Greenspan says credit turmoil was an "accident waiting to happen" and warns of rising UK inflation in the future.
308102
Former Federal Reserve chairman Alan Greenspan was quoted as seeing a "one-third probability" of recession in the United States this year, according to an interview with Bloomberg.
674527
High oil prices do not mean a rerun of the damage caused by the "oil shocks" of the 1970s, Fed chief Alan Greenspan says.
211486
Former Federal Reserve Chairman Alan Greenspan was quoted as saying on Thursday that a recession in the United States is possible, though not probable this year as inventory problems in the economy are being addressed quickly, Bloomberg reported.
50342
The U.S. economy is showing early  signs of stagflation as growth threatens to stall while food  and energy prices soar, former U.S. Federal Reserve Chairman  Alan Greenspan said on Sunday.
466013
Alan Greenspan, who served as Federal Reserve Chairman for 18 years and was the leading Republican economist for the past three decades, levels unusually harsh criticism at President George W. Bush and the Republican Party in his new book, arguing that Bush abandoned the central conservative...
20538
Current financial turmoil is similar to that seen in earlier stock market crashes, former Federal Reserve boss Alan Greenspan warns.
231397
Risks of a recession have increased,  but the Federal Reserve must be cautious in supporting the  economy because global forces that have kept inflation in check  are receding, former Fed Chairman Alan Greenspan said on  Monday.
757939
A combination of  Alan Greenspan comments, state and local IT spending projections and IT CEO expectations raised questions as to how long and how serious the next recession may be.
407356
Former Federal Reserve Chairman Alan  Greenspan said his successors at the U.S. central bank should  act cautiously in lowering interest rates because of inflation  risks, according to an interview published on Sunday.
695974
Former Federal Reserve Chairman Alan  Greenspan said the probability of a U.S. recession was now  slightly more than a third, after he earlier in the year put  the chances at one-third, The Wall Street Journal reported in  its online edition on Monday.
166997
A big overhang of property will bring U.S. house prices down further, but it is too early to say if the economy will plunge into recession, former Federal Reserve chief Alan Greenspan was quoted as saying on Friday.
333348
Former U.S. Federal Reserve Chairman Alan Greenspan warned Monday that the American economy might slip into recession by year's end.
332035
This year's surge in energy prices is likely to have far less of an impact than the oil shocks of the 1970s, Fed Chairman Alan Greenspan said today.