You are misrepresenting whatever it is you think he has said. Greenspan has never said that "excess capital flowing into stocks can be viewed as a form of infl

You are misrepresenting whatever it is you think he has said. Greenspan has never said that "excess capital flowing into stocks can be viewed as a form of inflation". Higher price of stock being a potential indicator of inflation (due to the wealth effect, etc) is very different to it "being a form of inflation". Anyway, I don't care to continue this discussion as is. Please feel free to post references backing your redefinition of economic terms if you wish to proceed.