What does Alan Greenspan have to do with your exchange traded funds(ETFs)? For two decades he served as the chairman of the Federal Reserve and has insight into the U.S. economy. During the Schwab Impact 2006 conference in Washington D.C. on Monday, he said "things don’t look bad", regarding our economy and housing market. "Profit margins are high and capital goods orders are showing some strength," Jen Ryan reported. 

Our economy has some underlying momentum but regarding housing the level of unsold single-family residences is high and has a long way to go to lower inventories.

On a lighter note, he joked about his famous phrases and about life after the Fed.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.