'"Greenspan says literally one sentence: "Congressman, America has the highest living standard in the world."'


                   I think he might be wrong about this, depending on how you define it.

                   Watching Greenspan on "Book TV," he indicated that he thought the collapse of the Soviet Union put the world economy into a deflationary posture, but that is ending now, and we are about to enter an inflationary posture. I got the impression that he didn't really think this was a good thing for America.