Richmond Times-Dispatch, Va., Bob Rayner column.(Column)

Byline: Bob Rayner

Oct. 22--THE SENSIBLE GREENSPAN HITS BIG PICTURE: October is a month often filled with silly pronouncements about the economy, a symptom perhaps of coming elections. This month in Richmond, though, we were treated to some welcome nuggets of economic wisdom.

Alan Greenspan, wearing sensible shoes, answered questions for more than an hour before a rapt and overflowing crowd at the Richmond Marriott. The former Federal Reserve chairman -- in measured tones, of course -- shed considerable light on the big trends affecting the American and global economies. Greenspan explained why long-term interest rates, including mortgages, remain pleasingly low, even in the …