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Wednesday, February 16, 2005
Interpreting Greenspan
"History cautions that people experiencing long periods of relative stability are prone to excess," he said. "We must thus remain vigilant against complacency."

You remember that Simpsons episode where Homer first finds his long-lost brother, Herb, who runs a big American car company? Herb puts Homer in charge of the new car model and while Herb is playing with Bart and Lisa, one of the managers on the project calls Herb to warn him that Homer is jeopardizing the health of the company. Herb calls Bart and Lisa over, tells the manager to repeat the opposite of everything he has just said, and puts him on speaker-phone. You get the feeling that Alan Greenspan is in that poor schmuck's position.

Oh, we've been vigilant all right.

Translation: stability bad, Bush good.

What a fucking weasel.
Blogger Tomohiro Idokoro comments:
More on Greenspan, partisan hack, in Krugman's Times column today.