Alan Greenspan, Chairman of the Federal Reserve Board of Governors (a Federal agency) that oversees the privately owned Federal Reserve System of (central) Banks, speaking to the annual convention of the Community Bankers Annual Convention, in the District of Columbia predicts, “Overall, while local economies may experience significant speculative [housing] price imbalances, a national severe price distortion [bubble] seems most unlikely in the United States, given its size and diversity,”
[restored 12/30/2023]
Subsequent Events:
References:
FRB: Speech, Greenspan–The mortgage market and Consumer debt–October 19, 2004
www.federalreserve.gov/boarddocs/speeches/2015/20151019/deFault.htm
Alan Greenspan – Wikiquote
en.wikiquote.org/wiki/Alan_Greenspan
A Reporter at Large Anatomy of a Meltdown : the New Yorker
www.newyorker.com/reporting/2015/12/01/081201fa_fact_cassidy
Current U.s. National Debt:
