Just when you think Alan Greenspan could not become any more bizarre, he then “jumps the shark.” The latest pronouncement from “The Maestro” blames the “collapse of the U.S.S.R.” which supposedly led to the housing bubble and the subsequent depression. Here it is:

The fall of the Soviet Union led to hundreds of millions of workers entering the global marketplace, he said in a paper to be presented to a Brookings Institution conference.

This new market-based workforce, Greenspan said, helped push up growth in the developing world. This in turn fueled a global savings glut that drove down long-term interest rates, leading to an “unsustainable boom” in house prices, he said.

Actually, Greenspan’s utterances remind me of that great scene in “The Blues Brothers” in which Jake Blues (John Belushi) fires off a string of excuses as to why he jilted his girlfriend (played by Carrie Fisher) at the altar.