I think we’re OK for the next six months. We are getting a recovery in (housing) starts and motor vehicles, but the process doesn’t have legs to it.
Former Federal Reserve Chairman Alan Greenspan • Giving his prognosis for the economy. Greenspan spent 18 years chairing the reserve, and he knows what he’s talking about. Greenspan’s tenure has been attacked by some critics who say that the housing bubble burst on his dime, but he defends what he did during the time there. One interesting factoid that came out of this: Greenspan says the auto market is oversaturated, with 20 percent more vehicles on the road than licensed drivers. What’s wrong with that? Everyone needs a car AND a truck! • source
This is a vote of confidence that the credit markets and economic outlook has improved and will show even further improvement down the road.
Bank of Tokyo-Mitsubishi UFJ Ltd. CFO Christopher Rupkey • Discussing what the Federal Reserve’s decision to slow down the buying of U.S. Treasuries. This is very good news for the economy, and the economy responded accordingly, with stocks up today. They still plan to continue the $300 billion program, but with an end date of October instead of September. • source