Here is the last paragraph in Greenspans speech today:
"The dramatic advances over the past decade in virtually all measures of globalization have resulted in an international economic environment with little relevant historical precedent. I have argued elsewhere that the U.S. current account deficit cannot widen forever but that, fortunately, the increased flexibility of the American economy will likely facilitate any adjustment without significant consequences to aggregate economic activity.8 That argument will be tested, I suspect, by possibly new twists and turns that will emerge in a seemingly ever-more complex international economic and financial structure."
Read the whole speech in the link in the title....but be warned it's filled with economic mumbo jumbo that really shows how clueless Greenspan is.....but he doesn't admit it until the last paragraph!!
