All year I have been saying a great way to boost the economy is to boost the stock market. Make it easier to raise capital and restores net worth. Now Alan Greenspan is saying the same thing:

“The stimulus is only a third spent, and its order of magnitude is not large enough to compare with the strength and power of the remarkable global equity increase that’s occurred since early March,” Greenspan, 83, said in a telephone interview yesterday from Washington. “Capital gains have proved a far greater stimulus than one can attribute to the $787 billion program that has been only partially spent.”