We can discuss the merits of Alan Greenspan as Federal Reserve Chairman--perhaps even if he ought to continue in that capacity after his term expires--but one thing's for certain: Greenspan is the polar opposite of a good public speaker.
The Q & A session that follows is equally predictable. Republicans laud their man, and give him attaboys, except when Ron Paul (R-Texas) has the mic. Meanwhile, the Democrats employ their usual guerilla tactics by peppering him with questions regarding the lowered participation of labor; the decline of manufacturing; the ever-widening wealth gap; the Chinese buying up the world; the mind-boggling current account deficit; the housing bubble; etc. While predictable, I pay more attention to the Q & A session. There, Greenspan often lets on that there is more trouble in store than he does in his prepared remarks. I, for one, find that refreshing. We can only hope that his successor is livelier and less obtuse.
Posted by Emmanuel |