Thank you for the articles, host - interesting reading. I was such a fan of Greenspan even back in the Regan and Bush years, and Clinton always seemed to leave him alone so that he could manage the monetary cycles in slow, calculated steps. I'm not sure what the motivation was for him to have become so loose and mallable to this administration's short term agendas? First they torch the political currency of Colin Powell, and now they have Greenspan badmouthing himself and his basic monetary theory!
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In short, he claimed he was wrong about his predictions of calamity for the fiat U.S. dollar, that the Federal Reserve does a good job of essentially mimicking a gold standard, and that inflation is well under control. He even made the preposterous assertion that the Fed does not facilitate government expansion and deficit spending. In other words, he utterly repudiated the arguments he made 40 years ago
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Al, how do you sleep at night??