Imagine you are walking through dense woodland on a foggy evening. You are following a friend along a twisting path and as the mist rolls in you begin to lose sight of your companion. You have to navigate by the sound of their voice alone. As the path becomes less distinct, you feel you are losing touch as you only catch the occasional glimpse of your guide. Just as you are in real danger of getting lost, the fog lifts and you emerge into a clearing to be reunited.
That is how I felt yesterday listening to Alan Greenspan. I had been invited to speak at the Conference de Montreal and the guest of honour was the former Chairman of the Federal Reserve. Sitting on his table at dinner, it was clear that he is used to being venerated and once you get beyond the fact that he looks like an octogenarian Woody Allen, he is undoubtedly well informed on all manner of subjects. [Read more…]