About the Author

Richard Cochrane is trained in chemistry and metallurgy but is far more interested and practiced as a political and fund raising consultant, writer and amateur historian. He grew up in a Navy family and with his two younger brothers carried on its 500+ year tradition of naval service to Great Britain and the USA then enjoyed a career with one of the largest advertising and public relations agencies working with numerous Fortune 500 companies and many of America's premier educational institutions. He maintains friendships and acquaintanceships around the world. He lives in Santa Barbara, California.

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GREENSPAN — RECESSION IS 50-50.

February 15th, 2008 • Richard Cochrane
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Home Stead Act of 2008Former Federal Reserve Chairman Alan Greenspan told about 1,100 energy industry executives, academics and others Thursday night the American economy is “clearly on the edge” of a recession, and has a 50-50 chance of tipping over into it. Greenspan said the depressed housing market as a primary culprit. Greenspan’s prediction came several hours after his Federal Reserve successor, Ben Bernanke, told Congress the economy is deteriorating, but he still looks for slow growth as 2008 transpires. HYPOCRISY.com has proposed a HOMESTEAD ACT of 2008 to help relieve the economic stress of the subprime mortgage mess and declining housing market.

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