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Greenspan Warns Good Times Are Over Short
News 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.
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