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Mar 31, 1996

Speculator: Fear or Wonder

The prospect of inflation is less worrying than the reappointment of Alan Greenspan to the Fed

Many years ago, when I was a starving - or at least an occasionally hungry - student, I put a windfall of three five pound notes in a book for safekeeping. Even then, I had thousands of books, and to this day I have never found the money. On the upside, it probably spurred me to pay even more assiduous attention to my books than I would have done otherwise. On the downside, even if I were ever to excavate that crock of paper, the sum that would then have kept me in rent and pubs for three

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