Alan Greenspan Discusses The Fed's Inability To See Bubbles, Is Confident There Is A "Bubble Waiting To Burst In China"

alangreenspan closeup tbiIt wasn’t my fault.

The maestro managed to run away from the old folks’ bent on monetary destruction home just long enough to carry this amusing interview with Bloomberg TV’s Al Hunt.Tomes (will) have been written about Greenspan’s dementia, just as books will be available on the Kindle one day analysing his successor’s massive mistakes which are slowly but surely leading to an American day of reckoning.  So we won’t comment much, suffice to point out some of the key highlights in Greenspan’s presentation.

Most amusingly, note the escalating battle between Greenie and the Fed’s new vice-chairman Janet Yellen, who blatantly contradicted Greenspan’s that higher interest rates would have prevented a housing bubble.

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