Paul Krugman, writing in August of 2002:

To fight this recession the Fed needs more than a snapback; it needs soaring household spending to offset moribund business investment. And to do that, as Paul McCulley of Pimco put it, Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble.

Thanks to a this comment for the pointer.

Prophetic. You have to give him that.