The Ignorant Investor

Via the Associate Press, the Maestro testifies before the Senate Foreign Relations Committee, giving them the unique insight that only his decades of experience as an economist and banker allows:

Former Federal Reserve Chairman Alan Greenspan said Wednesday that while the country has been able to absorb sharp increases in oil prices, the high energy costs are beginning to stunt economic growth.

Seems like I could have told them this myself, and I don't have any knowledge of economics beyond what I picked up from listening to Marketplace and reading the business section of the New York Times. Coming up next: Greenspan notes that if we see wages increase substantially, then inflation will become a problem. And that if you stick your finger into a light socket, you will get a bad shock.

Classic.