Greenspan says U.S. economy on brink of recession

Thank you very much for your insight, Maestro, you would know indeed...

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OHANNESBURG (Reuters) - Former U.S. Federal Reserve Chairman Alan Greenspan warned on Tuesday the U.S. economy was “on the brink” of a recession.

He said via video link to an investment conference in Johannesburg the chances of that economy falling into recession were more than 50 percent and a rebound was unlikely.

Asked if the U.S. economy was in recession, Greenspan said: “We are on the brink”. “A rebound at this stage is not something I think is in the immediate outlook,” he added.