Be Prepared

Now that Sir Alan Greenspan, the former Fed Chair, has come out with his pessimistic view, "the worst he's seen in public life," it most likely a decent bet to take the other side of that trade. Greenspan mentions the 1987 debacle as if everyone's memory is as short as apparently his is.

That downturn came as the Fed was hiking rates all summer as Greenspan assumed office that August. He was just as much a part of the October meltdown as he was on his way to Dallas that fateful day to deliver a speech.

We warned you, they'll pump out more negatives about this than an honest investigation into Hiliary's background would turn up in 10 minutes. Be prepared.

During a CNBC inteview today, when discussing the historic Brexit vote outcome, Alan Greenspan unleashed a fiery sermon that could have been prepared just by reading a random selection of posts from this website, the former Fed chairman told his shocked hosts that the current period, far from the raging "Obama recovery" spun every day by adaministration propaganda appratchicks and one that prompted the Fed to unleash a ridiculous rate hike cycle in December just as the US is sliding into a recession, and is instead the "worst period" he has seen, surpassing even the infamous Black Monday in severity.

"This is the worst period, I recall since I've been in public service. 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. I'd love to find something positive to say."

zerohedge.com/news/2016-06-24/greenspan-worst-period-i-recall-theres-nothing-it