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Greenspan's genius always inspires me. Oh, I am sure you will read a million takes on what he really said and what he really meant, but I think I am beginning -- after a decade -- to get the hang of how to read this guy.

His speech this morning was predicated upon two concepts: maintaining the integrity of the central banker as a fighter of inflation and promoting the new paradigm of low inflation/high growth.

Hold it. Didn't he specifically say that he didn't believe in the new paradigm? Didn't he specifically use those words?


But he spent the rest of the speech talking about why he believes in it. In fact, he defined it!

That way, he satisfies both concepts. He maintains his intellectual rigor while not sacrificing his central banker rigor.

Who else could pull that off and not seem like a two-faced spewer of mumbo-jumbo?

Tour de force job. As always.

Random musings:

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Hitting the road to Williamsburg. Thanks for all of the great suggestions from everyone about what to do there. If the kids say yes, we will do everything!

James J. Cramer is manager of a hedge fund and co-founder of Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Cramer's writings provide insights into the dynamics of money management and are not a solicitation for transactions. While he cannot provide investment advice or recommendations, he invites you to comment on his column at