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[greenie]

I have been studying Greenspan for a long time. Prior to Fed, he had an economic forecasting business, which did not forecast a single recession correctly. Based on what I heard from another very successful individual in the same business, Greenspan was nearly broke and his company had no client in early 70s, when he took a job in the Fed with his PhD professor Burns. The fact that he is calling for a recession in six months means only two things - either there will be no recession this year, or a recession has already started, and he has already gotten the data from inside sources. The first possibility is the Goldilocks scenario well-known to the street. So, from a contrarian viewpoint, I select the second one. Based on my other calculations, I expect Fed to cut rates around May 1st. Greenie is preparing the markets for it. Also, irrespective of what high opinion many of you have about Greenspan, I still think he is an idiot.