Alan Greenspan’s speech to the Economics Club of NY is worth a careful reading. I have known Alan for about 45 years and am an admirer. This is despite his being chastized for keeping interest rates too low for too long following the dotcom bust, and being too strong a cheerleader for free, unregulated markets. Many who now chastize him were roaring approval at the time. Alan was contrite at recent congressional hearings, admitting that he made some serious mistakes. But believe me, he is one smart cookie!. His comments two nights ago are a must read for anyone who wants to gain further understanding of what’s going on.
CLICK HERE to READ the speech