From Greenspan, No Fear

From putting the brakes, rhetorically at least, on "irrational exuberance" to this latest item - From Greenspan, No Fear of Oil Heights (washingtonpost.com) - our fearless Fed chief proves again that his name ought to be Grin-spin. I thought I was going to find the great man making the very reasonable point that, adjusted for inflation, today's oil prices are not so stratospheric. Instead we get lots of feel good nonsense. Proving that when you can understand what he says, and it isn't often, you still can't make any sense of it.