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  1. Jul 2019
    1. I’m reminded of how Greenspan’s observers in the financial industry tended to project all manner of genius onto him simply because he refused to articulate, in any concrete way that involved anything so crass as a narrative, what he was thinking or doing. For market watchers and finance industry savants, Greenspan was a human koan upon which they were expected to puzzle out their own economic enlightenment. If you didn’t get it, you were the idiot. 

      The Alan Greenspan fallacy