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He consistently sidestepped the thorny issues of just how destabilizing to the economy the bursting of asset bubbles is and how his policies may have contributed to the froth. Greenspan and his ilk seem to be fighting yesteryear's war against a long-slain monster.
Attrition, fatigue, a yearning for stability, a willingness to compromise are all provoked and enhanced to the acutest level by bloodshed and atrocities. It is an inevitable phase. The road to peace is bloodied. The Balkan has never been as politically fragmented as it is today. It has never been under the auspices of only one superpower. These are destabilizing facts.
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