Salient to Investors:
Alan Greenspan said:
- The US economy will grow closer to 2 percent in 2014 as it is restrained by a degree of uncertainty that is reducing investment, below the median economist estimate of 2.6 percent.
- The US stock market is not in a bubble.
- The economy is held back in part by some of the largest banks not operating efficiently and are using the scarce savings of the society, which is critical for economic growth.
- Stock prices generally rise 7 percent a year for the long-term, and we have had no growth in stock prices for years.
- Janet Yellen is very good but the Fed is going to have to stop expanding and move interest rates higher eventually, creating major political problems for it as it always has.
Read the full article at http://www.bloomberg.com/news/2013-11-27/former-fed-chairman-greenspan-sees-no-bubble-as-dow-tops-16-000.html
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