Mr. Alan Greenspan

Publication: Mooche News
BY The Mooche-2007-10-21

  Alan Greenspan is a name that has been revered for decades by most of the civilized world. When Greenspan talked people not only listened they took out loans and went out and bought big ticket items.

Wall street hinged on every utterance of Greenspan because he was the one person who seem to know the answers to the questions investors all over the globe were losing sleep over.

Alan Greenspan's photo belonged in the encyclopedia next to 'beacon in a storm'. The Greenspan mystic on monetary policies propelled him into the role of America's almighty harbinger at the Federal Reserve. Greenspan as Fed chairman was the glue that held this whole thing together.

Now, Greenspan is gone, and suddenly the wheels don't look so sturdy anymore. There is a sea of debt out there that nobody knows the full extent of. The markets are totally defying all odds and doing things that send and array of mixed signals seemingly designed to baffle the experts.

The housing sector is beginning to favor the dot com boom in that those who got out at the right time made out and the rest of us get stuck with the bill. Throw in the widening trade deficit and the stagnant wages and you have a scenario that will take the expertise of an Alan Greenspan to navigate this ship to safe harbor.

Why did Alan Greenspan decide to leave us when we need him the most? We are all in this thing together and we have a legacy of dealings based on the signals he did or didn't send.

Why did he leave when he could have stayed as long as he wanted and could have done it his way with no questions asked? Surely he knows he is like a wise and rich uncle to the country and we don't feel comfortable with someone else at the switch when it comes to the size of the digits that are at play in this economy.

Alan Greenspan drove this train to the top of the mountain and got off and caught a helicopter, leaving the rest of us with the reality of having to look forward to a rough ride back down to the bottom.