Hi basserdan: i have a bone or three to pick with Stephen Roach. Fed chairman Alan Greenspan gets credit for low inflation and recent 25 basis points up every 6 months. As for "spawning the largest boom in U.S history," I must disagree. And though he didn't "save" the world from financial collapse, he was instrumental in saving us from a real finanial-perhaps-domino mess when the Fed and others stepped in to solve the, [I forget the name of the outfit that pyramided to the hilt.] And I've only read Mr. Roach's first paragraph. You have filled my afternoon, basserdan!