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October 4, 2005
WB: Merit System
Comments
Bush’s recent top economist – Ben “Helicopter money” Bernanke
That is a done deal.
Let`s remember – the last four times the ruler over the FED changed did bring either a stock market crash or a bond market crash about two month after being in office.
Helicopter pilot Ben will recognize the crash (a few weeks too late) and answer by expanding M3 at triple digits and your now “well contained” flunky CPI by double digets.
That was so funny I had to put my phone on mute to stop the customer I was speaking to thinking I was laughing at them.
Posted by: still working it out | Oct 4 2005 21:50 utc | 2
it will be whoever Bushit appoints to lead the search committee….
Posted by: melandell | Oct 4 2005 22:30 utc | 3
Does Bush believe this stuff he says? Independent, what a gas.
For some reason the Fed Governors bullhorns today were yelling fire. That is they are determined to stay tight to fight inflation. Never mind that while they have been raising rates in the background they have been fighting a rearguard action with proligate open market operations, expanding their holdings at around 7% for the last two years. If that’s tightness I am the King of Sweden.
The markets cannot stand much more of this ‘tightness’ rhetoric but they can stand even less the Fed really tightning in their open market operations. Think of that as the nuclear option.
I tend to think it will be Printer Ben too but who knows. He appears to have the most bonafides as a Bush loyalist and in the end that always gets the nod. Of the many possible paths if Ben is named look for carnage in long rates temproraliy but the promise of historic ‘printing’, via open market operations, will give the leveraged speculators one more ride.
Posted by: rapier | Oct 4 2005 22:36 utc | 4
gee, and I thought Laura was looking for a new challenge …
Posted by: Anonymous | Oct 4 2005 22:44 utc | 5
The Winner is: Allan Hubbard; Bush crony, Harvard MBA classmate, huge donor, on the Fed Chair “search” committee and bonus points for being derided by Krugman. He’s got it all.
Posted by: dd | Oct 5 2005 1:49 utc | 7
No matter who is chosen, it would be almost impossible to find anyone as craftily intelligent in manipulating the economy for the good of his/her sponsors, and of course himself, as Greenspan. Any “considered” choice of Bush will almost certainly be of such little savvy that we can expect to see the equivalent of an economic tsunami. Of course, it has been judiciously set up by Alan to not happen until he is in safe waters.
Posted by: Juannie | Oct 5 2005 2:06 utc | 8
I say Larry Kudlow. If your going to hire a sycophant with the brains of a turd (blossom?) then Kudlow is your munipulative man. Tax cuts for the rich, lets spend because the debt means nothing. Thats Kudlows game.
he is the biggest horses ass on TV. So, that means hes Bush’s next Fed Chair.
Posted by: jdp | Oct 5 2005 2:12 utc | 9
I’ve just decided Greenspan & Cheney will be given dispensation from mere mortality…and wait til you see what happens to their personal fortunes..Tee Hee..
Posted by: GOD | Oct 5 2005 2:34 utc | 10
It’s a cinch Bush’s pick will think taxes are anathema, excepting those imposed on the bottom 95% of wage earners.
Posted by: steve duncan | Oct 5 2005 2:46 utc | 11
they plan to introduce flat tax plan this yr & Pirates are big on carbon taxes, which is why they’re funding an echo chamber of astro-turf websites on the bullshit about how oil is running out.
Posted by: jj | Oct 5 2005 3:08 utc | 12
Pigs at the Troft
Here is a list of funding opportunities for Head Start that include ‘faith based organizations.’ That’s your tax dollars going to organizations that are allowed by law to discriminate against hiring women, gays, blacks or anybody else that the invisible monster that lives in the sky told them not to hire. Any other organization receiving federal funds has to at least pretend to hire by skill and not by discrimination. But say that an invisible monster that lives in the sky insists that only straight white men are fit for the job and laugh all the way to the bank, with somebody else’s money. Yours. Mine.
Religion trivializes law and politics.
Posted by: Uncle $cam | Oct 5 2005 4:30 utc | 13
$cam, I suspect this is a transitional stage. Viewed in post Toto environment, I think it’s building toward hollowing out governement altogether. Govt. agencies will become essentially routing agencies, not service providers. According to this conception, at best, like foundations before it, govt. would merely provide seed money to private providers, some of which could be secular, which they’d be expected to match w/”private” contributions.
Consider that the Pirates are on track to dispose of the public schools – even Kerry supported that, criticizing only Bu$hCo for underfunding “lv no child behind” – so why would they maintain pre-schools? Furthermore, if they’re going to turn them into cesspools of Fundie Capitalism, why should Fundie GodNuts not have be able to mutilate the young as well. Just think, whereas home schooling started w/Fundie freaks rescuing their progeny from the secularists, in the future it’s the secularists who’ll have to home school their children – if they’re insane enough to have any – to rescue them from the Fundies.
Posted by: jj | Oct 5 2005 5:01 utc | 14
“stock market will reopen eventually”
ROFLMOA
as if shrub cares. he cashed out after Harken went bust.
Posted by: withoutapaddle | Oct 5 2005 5:54 utc | 15