Bloomberg posted the following article: http://www.bloomberg.com/apps/news?pid=20601068&sid=a35MnKF6LHZQ on Greenspan's BOMA appearance.
Question 1: If energy price is the means to bring down consumption as Greenspan said and that means people will wish to travel less to control their costs, what is the future of the 1 hour plus commute?
Question 2: If we are half way through the liquidity bubble from foreign savings coming into the US as Greenspan said permitting real estate deals to happen and companies to be funded, what will happen as this easy money disappears?
Clue: I was the Executive Vice President at the Pittsburgh Chamber of Commerce when the oil embargo happened - I know what the reactions were in Pittsburgh at that time and I think it offers some clues for "tomorrow" in a more energy price sensitive time with higher interest rates and tighter borrowing.
I will address the details in a future Entry. In the meantime I thought you might like to see the Bloomberg take on Greenspan's BOMA speech.
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