“This is not the bottom, but the worst is behind us,” Alan Greenspan
The former central banker said he is “reasonably confident” the United States will not slide into recession because businesses appear to be strong, as evinced by strong corporate profit margins and healthy levels of capital investment.
He may have been drinking Kool-Aid for way to long now.
For proper credit, the above is an excerpt from Calculated Risk, http://calculatedrisk.blogspot.com/2006/11/roubini-on-cnbc-and-more.html