Greenspan Warns Good Times Are Over

Short News
Tuesday October 02, 2007

Alan Greenspan has announced the end of the good times for the world economy and that the economic future is a gloomy one, due to many factors including a slow down in the US economy which will have repercussions across the globe.

Greenspan predicted the boom of the 90’s following a "new economy",a high-tec boost to productivity whose effects have been prolonged by the economic rise of China although he now claims that these have only given a temporary respite to the economy

He warns that government intervention to counteract the economic slowdown often do more harm than good citing the Bank of England intervention to help Northern Rock, a move that triggered the run on the bank.

Source: news.bbc.co.uk