2.38 - 5.01
Alan Greenspan talking about the lack of illiquid investment in the economy. Basically, companies and businesses are focussed on short-term, highly liquid, assets as opposed to longer-term assets like--say--residential construction.
This is indicative of--say it with me--
a tight monetary policy, as a search for liquidity is often a sign of low velocity/high demand.
TC;DR: I'm right, as usual.
It's so annoying to watch intelligent people like Alan Greenspan fumble around in the right general direction, but miss what is probably the correct answer.
Yet more evidence that I'm correct (trigger warning: economics)