Forget About History

It seems that Alan Greenspan thinks that the situation where short-term yields are higher than long-term yields is simply an anomaly. This, despite the fact that this has happened before, and when it has, it has indicated what we shall call an “economic slowdown”. Naturally, we all want to be optimists, especially when our job is involved. You think perhaps Mr. Greenspan is just viewing the world through some rose-colored glasses? Only time will tell.