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Wed Dec 19, 2018, 11:23 AM

Bull Market Over: Alan Greenspan Tells Investors To 'Run For Cover'

Published time: 19 Dec, 2018 10:38
Edited time: 19 Dec, 2018 10:42

Former chairman of the US Federal Reserve Alan Greenspan has warned investors to get ready for a painful correction in the stock market, as it cannot stabilize and unlikely to muster another rally.

“It would be very surprising to see it sort of stabilize here, and then take off again,” Greenspan said in an interview with CNN Business. “Markets could still go up, but at the end of that run, run for cover.”

The stock market has already stopped its bull run and is beginning to tumble, according to the famed economist, who is citing the reaction over the recent days. On Tuesday, stocks managed to stabilize after Monday's big tumble that knocked US indices to their lowest levels in over a year.

Concerns over the slowing global economy and trade disputes have been keeping stocks in decline since October. As of Monday, the benchmark S&P 500 and the blue-chip Dow Jones Industrial Average were on track for the worst December since 1931, when stocks were crushed during the Great Depression.

Greenspan served as Fed chair from August 1987 until January 2006. His comments came a day before the current head of the US Federal Reserve, Jerome Powell, is widely expected to announce another possible interest rate hike along with the central bank’s forecast for next year.

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https://www.rt.com/business/446838-bull-market-over-greenspan/

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Reply Bull Market Over: Alan Greenspan Tells Investors To 'Run For Cover' (Original post)
RCW2014 Dec 2018 OP
freedumb2003 Dec 2018 #1

Response to RCW2014 (Original post)

Wed Dec 19, 2018, 12:05 PM

1. Greenspan's strategy for his ENTIRE tenure: Lower Interest Rates, print more money

 

W made some bad mistakes but keeping Greenbucks on was the worst.

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