And if not for the gyrations in the equity market, it would have been a lot thinner.

The Chinese devaluation would be devastating to the equity markets, and it would be good for bonds, ... But that is not a credible fear right now. The inflation that would come from devaluation would cause social instability.

Greenspan's comments have been so specific to the markets and costs, ... The price index was worse than the market would have liked.

Greenspan's comments have been so specific to the markets and costs. The price index was worse than the market would have liked.

not really much of a factor, except to the extent it's delaying the impeachment proceeding.

The question is -- and this is why the market hasn't reacted too negatively to the durable goods report -- is whether businesses ... will continue to spend given the risks to consumer spending posed by high energy prices.