Gloomy Greenspan warns of recession for US economy

Further gloom gathered over the US economy yesterday as retail sales lurched lower while former Federal Reserve chairman Alan Greenspan issued a fresh warning that the world’s largest economy could be heading for recession.

New figures showed retail sales in the US unexpectedly tumbled last month, hit by a double whammy of higher petrol prices and a crumbling housing market.
http://business.guardian.co.uk/story/0,,2077989,00.html