Alan Greenspan dead at 100

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Greenspan parlayed his sound-money bona fides into the top post at America's central bank and the stewardship of the world's dominant fiat currency.

In betrayal of his own stated free-market principles, Greenspan spent nearly two decades at the Fed pumping up financial markets with easy money, backstopping Wall Street, and enabling runaway government spending commitments.

Today, the "Maestro" of central banking leaves behind a complicated legacy. He was celebrated by the financial establishment as a master economic steward. Yet many of the financial distortions, asset bubbles, and debt excesses that characterize the modern economy can be traced to policies implemented during his tenure.

The irony is that in his later years, Greenspan increasingly sounded like one of his longtime critics.

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129 when adjusted for inflation

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129 when adjusted for inflation

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