Stephen King: Greenspan's Delphic message on US deficit
http://news.independent.co.uk/business/comment/story.jsp?story=608435
07 February 2005
Alan Greenspan, chairman of the Federal Reserve, is a man who once
said, famously, "I guess I should warn you, if I turn out to be
particularly clear, you've probably misunderstood what I've said." On
Friday, Mr Greenspan was back to his Delphic best. Presenting to the
Advancing Enterprise conference in London, he decided to focus on the
balance of payments or, more specifically, current accounts within the
balance of payments.
That Mr Greenspan chose to spend a whole speech talking about current
accounts is, in itself, a rather interesting result. After all, it
wasn't long ago that many Americans claimed that the US current account
deficit really didn't matter. So, if Mr Greenspan decides to confront
the issue, it may mean that current account deficits matter after all.
Stephen King
http://groups-beta.google.com/group/alt.atheism/msg/e0909c78f4570080
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