Corrupt Leaders

Pull a Reagan, Mr. President

Ax Greenspan

Wednesday August 1, 2001 12:00 a.m.

In August 1981, eight months into his presidency, Ronald Reagan boldly fired the striking air traffic controllers. Reagan stated that government employees took an oath not to strike and that the walkout was a threat to safety and damaging to the interests of the United States.

From that point on, everyone, including the Russians, knew that Reagan meant business.

It is now close to eight months into Bush's presidency. Will George Bush take a bold step and fire Alan Greenspan?

If you compare what Alan Greenspan has done to what the air traffic controllers did, Reagan may just have done more than fire him if he was President today. Greenspan destroyed the lives and dreams of so many citizens. About five trillion dollars in wealth has been sucked out of the hands of Americans by crashing stock prices thanks to this senile serpent. OK, Bush can not technically fire him. What would the great-one have done? He would have asked for his resignation on national TV, humiliate him, and force him out. Mission accomplished. And it would help kick start the U.S. economy again.

Be bold, Mr. President. Ax Greenspan and show the country you mean business. Then go on a rampage to reclaim our freedom carrying the big stick like Reagan did.

Mistake 1

Leading up to Y2K, Alan Greenspan flooded the banking system with money. Why? Because this idiot believed that people would be lined up for miles at the banks yanking their money out fearing computer bug crashes on January 1, 2000. Yes, the mass of ignorant people is astronomical. But why fear that? Those people knew that the socialists in Washington would give them a two for one return of any money lost. It would be used as another "redistribution of wealth" scheme. This flood of money found its way into loans and helped fuel business and personal spending and an unnatural surge in stock prices.

Mistake 2

Y2K came and went and no planes fell out of the sky, no pacemakers stopped working, and the only blackouts were memory recollections by Gary Condit and Bill Clinton. Alan Greenspan had to reverse course and start sucking money back out of the system. His second mistake was he was too aggressive. He raised interest rates too much in the face of an economy that was going to slow down anyway due to a post-Y2K unwinding and the ending stages of a nine year expansion.

Mistake 3

It is now November of 2000 and it is clear Greenspan screwed up. Stock prices have plunged and the economy is not going into a soft landing but a hard one. Al Gore is now attempting an overthrow of the government-elect and Greenspan refuses to reverse course and start cutting rates. He does not want to appear to be helping the cause of Gore or Bush during this overthrow attempt.

So they say. Read on.

Mistake 4

Now, it is 2001. The overthrow by Gore was put down. Greenspan now starts cutting interest rates but he blows it again by only cutting one-half point at a crack. He should have been cutting by up to one full percent the first two times. The NASDAQ is lower today than where it was seven months ago when Greenspan first cut interest rates.

Would Reagan have put up with this? No. He would have marshaled Greenspan into an old DC-8 and insisted on using his flight as a close-call simulation for a group of rookie air traffic controllers.

Have you looked at your investments? Did you lose thousands or millions? You can thank another government intrusion into the free enterprise system for your evaporation of wealth. It is like the fortune you have paid into the tax system was not enough. Now, in one year, the government whacks most of your remaining wealth from you by infringing on the free enterprise system and crashing stock prices.

Technology stocks would have cooled off naturally post-Y2K as companies spent heavily in the late 90s preparing for that and were eager to back off the spending spree. The expansion had run its course based on historical averages. We did not need the Fed to "fix" a wheel that was not broken by raising interest rates the way he did and turn a pending natural slowdown into a crash. Five trillion lost dollars later all Greenspan really did was play pogo-stick with rates raising then lowering them and producing a crash in your wealth that should not have happened. The free enterprise system is self-correcting as long as the U.S. Government keeps its Marxist hands out of the system. And when they do? Five trillion dollars—poof. What was your share?

Learn from Ronald Reagan, Mr. President. Take some bold action. Alan Greenspan, visiting Gore's students, high-fived Al Gore when a student in Gore's class knocked your tax cut proposal. Remember what Greenspan did to your father? Delayed cutting rates during the slowdown in 1991 so as to help Clinton in the fall of 1992—remember? Alan Greenspan has timed this destruction of wealth to do to you exactly what he did to your father in 1992. Believe me, the "Bush slowdown" will be the talking points of the socialists in the fall 2002. And Republicans will be afraid to call it the Greenspan slowdown.

You can count Alan Greenspan on the socialist side of the ledger. He is an enemy of freedom just as Tom Dasshole and Gary Con-didit is.

Pull a Reagan, Mr. President.

Issue 12 page 1

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