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While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.

Alan Greenspan
Diversity, Imbalance, Size
"The mortgage market and consumer debt". Remarks by Chairman Alan Greenspan At America’s Community Bankers Annual Convention, Washington, D.C., www.federalreserve.gov. October 19, 2004.
While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.