Former Federal Reserve Chairman Alan Greenspan said this week that the economy will show signs of rebounding, though more people will be out of work.
Greenspan told the ABC program "This Week" that he expected 3 percent growth in the third quarter, up from the 2.5 percent he previously predicted. However, he said a "pretty awful" September employment report released Friday showed the jobless rate continued to climb ... a slowing or halt in job losses is different than reversing the rise in unemployment, Greenspan noted, adding that the nation's unemployment rate — currently 9.8 percent — is "going to penetrate the 10 percent barrier before heading down."
Which means ... ? Durned if I know.
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You tell me: Is Greenspan making sense? Is the economy making sense? Can anyone decipher this mess? Even if you could understand any of this mess, do you believe it? Use the comments section for feedback.
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