Relative Values

Yesterday, on ABC's "This Week", hosted by George Stepenopulence, the first guest was the venerable, beady- eyed, ex fed-chairholder/warmer, Alan Greenspan. (NOTE: he is not in anyway green, but has spanned much too much time in the pubic domain). Each time George pressed Mr. Not-Green-Spanned-too-long for an answer about the economy, the stimilus packages, the unemployment, the recession or the Fed's possible actions, he responded with either, " We don't know yet", "We will have to wait and see", "It is hard to project these things", "We will have to wait for the report from the GAO/CBO", "These things are hard to predict", or "We have never had a sustained period of unemployment/recession/imbalance of debt/etc. like this with which to compare it to" (that is, historcally speaking, by the way, a completel bald-faced lie...and very bad grammar).

It would seem that Mr. Greenspan would serve us all much better if he were to return to the relative obsurity of retirement, rather than muddy the airwaves and prove , once again, that he doesn't know anything. Since I am one now, I can excusably and with impunity therefore decry old, staid and stale men, with granite in their ass and noodles in their brains, who have moved way past their prime and should stay home and watch re-runs of "The Flintstones".

Last week, as I trudged down a rainy street in Austin, and pondered the weather forecast with my son, he reminded me of a quote from a wilderness book writer, who said that " weather forecasters were invented to make economists look good." Yesterday, on this same TV program, Cokie Roberts (NPR) reminded us that "economists were invented to make astrologers look good". I am guessing that Paul Krugman might somehow (at last partially) agree. I have also just become more trusting as regards my horoscope.

And my other guess (and I'm not waiting on a report from the CBO on this) is that the longer the President and Congress listen to the malarky we get from the likes of Alan Greenspan, the longer we will continue to drift towards becoming a third world country, economically.