General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forums'This Is The Worst,' Alan Greenspan Says Of British Break From EU
Former Fed Chairman Alan Greenspan told CNBC on Friday the U.K. vote to leave the European Union ushers in a period that's even worse than the darkest days of October 1987.
Britons voted by 51.9 percent to quit the 28-country union, shocking markets that had priced in a win for the remain camp.
"This is the worst period, I recall since I've been in public service," Greenspan said on "Squawk on the Street."
"There's nothing like it, including the crisis remember October 19th, 1987, when the Dow went down by a record amount 23 percent? That I thought was the bottom of all potential problems. This has a corrosive effect that will not go away."
more...
http://www.cnbc.com/2016/06/24/alan-greenspan-says-british-break-from-eu-is-just-the-tip-of-the-iceberg.html
snooper2
(30,151 posts)closeupready
(29,503 posts)Trajan
(19,089 posts)The sky is not going to fall ...
Buns_of_Fire
(17,192 posts)It seems that if you listen to Alan Greenspan and/or Bill Kristol and then do the exact opposite, you're often not too far from the correct answer to the problem.
LWolf
(46,179 posts)persuading argument to support "stay."
Really, I haven't taken a position here. I can clearly see the argument from both sides, and haven't come down on one or the other at this point.
Greenspan, though...I trust his judgement? No.
Wellstone ruled
(34,661 posts)the Guy in failing Mentally,grasping for words and had a difficult time saying focused. Seems to me,he was the author or coauthor of of the 2007-2008 melt down. So far today,2 trillion dollar wealth transfer has occurred and more to come.