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Consistent Mixed Signals


Published October 21, 2004
Written by Alec Nevalainen



I was listening to a radio interview a few months ago when the guest mentioned that people in communist-rule Russia knew a problem existed only when the government came out and officially denied it.

I think we can apply the same logic to Alan Greenspan and the Federal Reserve.

This certainly isn't an original thought. In fact, since I just wrote it, I guess it's official now. Every single person on the face of the earth now knows that Alan Greenspan is full of crap.

I've never been one to overly criticize Greenspan. I guess I thought he was doing what he had to do. He can't come out and say, "Yeah, we've dug a hole we can't get out of. I believe the time to panic has arrived." His job is price stability. Means to an end, even if it requires false truths.

Housing, debt, monetary policy. Everything is fine, at least until they aren't. I guess that's the way to live, no worry's until it's time to worry. I guess deficits don't matter. At least they don't matter until they do. When they do, we'll just print more money. What's the problem, right?

I just don't get it. I guess I won't get it until I get it.

To his credit though, every time he visits congress he pounds his fist on table and asks, "Why aren't you fixing social security? What's wrong with you people?"

I suppose looking at all of the yard signs makes me grumpy. People calling me, proddingly asking, "Who are you going to vote for?" I had someone pounding on my door Saturday night with a clipboard, barking at me about the election. No introduction, almost commanding me to reveal who I'm voting for. I politely mentioned that this wasn't a good time and closed the door gently.

Always a test of character around election season.

Alec Nevalainen
www.coinflation.com







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