Cartoon by Elaine Meinel Supkis
By Elaine Meinel Supkis
Well, the senile old goat, Skull and Bones Greenspan, is at it again. Warning us about either the wrong things or things he himself caused. First, his blatherings in public:From Yahoo News:
Creeping trade protectionism and bloated budget deficits pose a risk to the United States' long-term economic vitality, Federal Reserve Chairman Alan Greenspan warned Friday.Low risks? What planet does he hail from? The fatted goose of America was deliberately overfed by interested parties who want to eventually slit the guts and eat the liver. See?
"Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset: the increased flexibility of our economy, which has fostered our extraordinary resilience to shocks," the Fed chief said in a speech to an economic conference here, sponsored by the Federal Reserve Bank of Kansas City.
Maintaining economic flexibility is especially important, Greenspan said, to deal with what he called some of America's current economic imbalances: the swollen current account trade deficit, which surged to a record $668 billion last year, and the housing boom.
Greenspan also worried in his speech about what will occur with the ending of the recent sustained period of low interest rates and low risks for investors. "History has not dealt kindly with the aftermath of protracted periods of low risk premiums," he said in his remarks.
We fell for it, of course, because all simple creatures want to eat everything in sight. My horse, Sparky, will stuff his gut until his hooves spit if I let him. Want to destroy a horse? Let them break into the sweetmix. Their stomachs swell up and they die. Sparky actually did this once and we ran a hose down into his stomach and sucked out all the grain. He was pretty sick at that point!
Never did it again.
The trade deficit won't be fixed by sending even more jobs overseas and buying up cheap labor products from overseas or out of country. Like Ford opening a huge factory right across the border in Mexico, callusly gambling that increasingly poor Americans will be able to afford enough debt to buy a Mexican car! Only yesterday, Moody's rated Ford as xxx risk, ie, they will be as dead as an overfed horse pretty soon so don't loan them any money! This is one of our top industries!!
We already shipped out nearly everything else. We are now cutting off arms and legs, not just fingers and toes! Actually, we are slicing our throats!
I remember the highway and energy bills we just passed. Both are budget busters. Greenspan wasn't screaming and beating himself with whips over that, was he? No, he wants to shift the burden of paying for this mess onto you and me, the non Skull and Bones folk. The non Bohemia Club people. The little people.
On other issues, Greenspan said the economy thus far seems to be weathering reasonably well the run-up in energy prices over the last two years.Yeah, so far, all my neighbors have been hoarding firewood and cutting back on purchases at Walmart! I note, Walmart is getting rather alarmed.
And the price of firewood is rising, too. And the power was shut off in California yet again. But then, they voted for Schwarzie and so they can stew in their movie star juices for a while until they learn to not be so stupid.
All of this is shameful and horrible. Not one bad thing happening or that is going to inevitably happen should be happening. It was so easy to not do all this. But, like my horse, Sparky, he doesn't listen to me, either.
And I had to pump his stomach.
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