When Federal Reserve chairman Alan Greenspan speaks, markets listen. But Mr. Greenspan doesn’t create wealth, as E.F. Hutton did when he spoke. Mr. Greenspan’s speeches tend to destroy wealth. Last week, for example, Greenspan told Congress that he’ll keep raising interest rates. In response, the stock market plunged nearly 3%-meaning that about $400 billion of … Continue reading Why Greenspan Trashes the Markets