Daily Theory on Daily Theory

Mildred,
Greenspan’s never been the same since the Harvard Business School Cookout on Martha's Vineyard two years ago. It was right after the dot com bust and these three fresh out MBA grads were giving him shit all night while gloating on and on about their personal economic theories. After two relentless hours and four bottles of top shelf whiskey, Alan just snapped. Can't say I blame him. Though he politlely excused himself, ten minutes later, he was on a private plane back to D.C., compliments of Ted Kennedy. Greenspan never forgot about those pricks. All three ended up working as account payable clerks for a glass manufacturer outside of Des Moines. Sometimes justice gets served.

Love,
Cash
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Cash,

I really wish the press would stop pegging Alan Greenspan as a wash up. The world’s more complex than just black and white.

What Greenspan and the rest of those FOMC folks have to accomplish, I wouldn’t wish on anyone. When consumer confidence nosedives, economic growth slows more than expected, and you STILL have to contain inflation - things can get murky (not to mention the pain in the ass of dealing with global competition to keeps prices in balance).

The trick for Greenspan will be how to amend inflation/imbalances without causing a major disruption in the US/Global economy. It’s like having to coach the New Orleans Saints to a super bowl - Everyone’s rooting for them, but no one knows exactly how to pull it off with such a sorry group of players.
Mildred