Statistically better than a monkey with a coin

On 7th April, Alan Greenspan appeared before the Financial Crisis Inquiry Commission, to explain what happened. He testified that he “was right 70% of the time and wrong 30% of the time.” That’s great. He spends 70% of his day asleep, eating, pooping, and commuting. It’s hard to screw these things up. Which suggests that the screw-uppy 30% was limited to those parts of the day when he was sitting in front of a desk making monetary policy.