Thursday, March 03, 2005

How big? 


Well, I don't know how big it was, but I'm starting to think it's smaller now.

The slowly-but-surely more impressive Harry Reid had this to say (AP buried it under the headline "Republicans Trying to Get on Same Social Security Page; Democrats Target Ads"):

Appearing on CNN's "Inside Politics," Reid denounced Federal Reserve Chairman Alan Greenspan, who on Wednesday endorsed the private retirement accounts [speaking, as a Kossack, but not AP, notes, as a private citizen, not Fed chair] and pressed Congress to address the looming shortages in programs for the elderly.

"I'm not a big Greenspan fan. I voted against him the last two times," Reid said. "I think [Greenspan]'s one of the biggest political hacks we have in Washington."
(via AP)

Is nothing sacred?!

As the Zen masters ask: What is the sound of a lame duck quacking? For Bush, it's his tanking numbers on Social Security and winger feverdreams.

Ditto for Greenspan—except the numbers he has to worry about are the Asian bondholders. If they haven't dumped their holdings now, it's because they know that Greenspan's plan to default on the Social Security bonds and screw the Asian widows and orphans who bought them will never, ever happen.

Can't we impeach Greenspan now? What's the remedy when the supposedly independent Federal Reserve chair acts like a partisan hack? Besides trying to orchestrate the heist of the century? (Krugman explains the ol' bait and switch)

UPDATE Damn, I never understood bonds. Can somebody besides alert reader CMike straighten me out on that part of this rant? I can't understand what he's saying either. Thanks!

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