Greenspan on bubbles

Doug Henwood dhenwood at panix.com
Thu Jul 22 10:06:26 PDT 1999

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Greenspan just told the House Banking Committee, and these are pretty close to his exact words, that we can only know if the U.S. stock market is a bubble after the fact. To say it is now would be to presume to know more than the millions of very sophisticated investors who trade it every day.

Doug

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