Skip to main content

Oldie, 10/23/08: Greenspan's Honest - You've Got to Give Him That

Like many others in the 1990s, I thought of Alan Greenspan as some sort of financial guru. It wasn't my area, really (still isn't, probably never will be), but he was one person for whom I was willing to put aside my core liberal inclinations and go with the free-market flow. It seemed to be working, at least for me ... I had a steady job and was getting along well enough; there seemed abundant, limitless hope for the economy of the future. I had plenty of other stuff to worry about besides macroeconomics.


Well, now the macro has, um, trickled down here to us micro types; it's all falling to pieces (though, knock wood, I remain employed and expect to continue that way), and Mr. Greenspan has had to come crawling out of his peaceful retirement and eat crow up on Capitol Hill.


I don't hate the guy, or even dislike him. He's not a smug, smirking, insensitive jerkwad like Phil Gramm, who seems to think anybody who isn't mindlessly happy continuing the status quo unto infinity is merely a "whiner."

No, Alan Greenspan came clean. He said, in effect, "I was wrong." And this is how he said it:

Greenspan called this


"a flaw in the model that I perceived is the critical functioning structure that defines how the world works."


I mean, dayum, that is elegant! He not only admits to being wrong about housing prices, the banking industry, the credit system and deregulation, he basically says he was wrong about EVERYTHING.

And at the age of ! 82 !, he's -- dare I say the word? -- articulate.

My family of origin had a few stock sayings. One of them was "Let's face it..."

Another was "He's honest. You gotta give him that."

I'll give it to him.

What the hell.

Comments

Popular posts from this blog

Memoir - The Year of Kent State

by The Urban Blabbermouth
~
I wanted to write a fictional memoir and it got away from me. 

Original
I was born in the Year of Kent State. I didn't know. I was watching a cable channel specializing in historical programs, in this case, newsworthy events from the 1970s. The Ohio National Guard shot 13 unarmed students protesting the Vietnam War on the Kent State University campus. Four students died. By the time I was aware of a bigger world than my own, Kent State passed into history.

Climbing to New Heights

by The Urban Blabbermouth
~
It started when I was ten.  I was riding shotgun with my father when a small plane crossed the highway in front of us.  The plane floated gently to its landing, like it had all the time in the world.  It was beautiful.  I knew then I wanted to be a pilot.  

I dreamed of soaring with the clouds and flying through them.  I could go anywhere the crow flies.  No stuck in traffic following a road as laid out by some anonymous engineer.  I could fly with the birds, although, I never thought myself a bird.  I loved the freedom.

But, I fear heights.  

It's not just any heights, it's low heights, the kind you get with stairs, balconies, bridges, and landing airplanes.  When I fly on airlines as a passenger, I look out the window at thirty thousand feet, no fear.  Somewhere between six feet, my height, and thirty thousand feet, airplane's height, lives my fear, a mysterious feeling that emerges from my stomach and rises up into my chest.  I can't…

Im gonna git u Sukkah

by The Urban Blabbermouth [who may or may not be shown in the photo above... - v-E] ~ True story. I am walking to my car and I notice a couple of Jewish fellows, twenty somethings, with the bouquets of what looks like bamboo or palm. I know they are Jewish for they look Hasidic. They are wearing long black jackets, wide brim black fedora hats, and have curly sideburns. In truth, I classify all Jewish who dress like this as Hasidic although they may identify themselves differently. They are standing near the corner canvassing passersby.