As an exercise for readers, please tear apart the illogic in the following dubious statements by ex-Fed maestro Alan Greenspan. The subject, of course, is the ongoing housing/mortgage/subprime/economic meltdown in the U.S.:
- “The housing bubble is not a reflection of what we did, as it is a global phenomenon.”
- The collapse of the U.S. subprime market “was a shocker because no one expected it”
He’s all yours, folks.