Alan Greenspan and Batman

[donsu]

http://www.atimes.com/atimes/Global_Economy/GB19Dj01.html


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FX Trading
Federal Reserve Board head Alan Greenspan referred to the behavior of long-term yields as a “conundrum". A conundrum is defined as a hard or puzzling question, which is the way I am sure Mr G meant it, or did he? A second definition for conundrum is "a riddle, especially one with a pun in its answer". You know what this means, it's time to call Batman - the Riddler is on the loose.

Playing the role of Batman Friday is Greg Weldon, editor of Weldon’s Money Monitor. After feeding all of Mr Greenspan’s riddles through the
Bat-Disgronophocator, our masked hero came up with this:

"New secular highs in liquidity, and, the explosive liquidity under the direction of hedge funds, and their preferred investment vehicle, equities. Gee, might these facts have something to do with the violence of the divergent macro-market trends?

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Maybe there was much to glean from Mr Greenspan's testimony after all. Maybe the crowd that implies the Fed won't be aggressive, despite it's signaling of more hikes ahead are on to something. Maybe it's why Mr Greenspan suggested that real rates (nominal minus inflation) are tightening because inflation was subdued - a subtle little signal indeed that the Fed may be closer to the end of tightening than many believe.

Or maybe our Bat-hero has it all wrong. Maybe Mr Greenspan has decided that he doesn't want to be remembered as the Fed Bubble-Ologist, after an otherwise long and distinguished career. If so, it means the budding consensus is underestimating his resolve - we have seen that before.
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the last paragraph said this riddle would take superheros to solve it.

[TreasonousBastard]

1. More'n likely...

he just doesn't want to get involved in just how screwed up things really are.