
http://ajw.asahi.com/article/economy/bu ... 1306040073
http://www.cnbc.com/id/100798203Former Federal Reserve Chairman Alan Greenspan told CNBC on Friday that the central bank should taper its $85 billion a month bond buying even if the U.S. economy is not ready for it.
"The sooner we come to grips with this excessive level of assets on the balance sheet of the Federal Reserve—that everybody agrees is excessive—the better," he said in a "Squawk Box" interview. "There is a general presumption that we can wait indefinitely and make judgments on when we're going to move. I'm not sure the market will allow us to do that."
I really don't think it is going to zero but it might get below 420.Higgenbotham wrote: This means that when the S&P does crash, it is not going to stop at 820. It's probably not going to stop at 420. My prediction, and this is just based on how systems overshoot and then crash and burn, is the S&P is going to zero.
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