Monday, May 19, 2003

"We've had a lot of people running around saying, 'Deflation � it can't happen here,' " Harvey Rosenblum, the research director of the Dallas Fed, said in a telephone interview last week. "I think it can."

It's about time the world realized [1] the Fed is more than just Alan "Mr. Mojo Risin'" Greenspan and three back-up flunkies on drums, guitar and organ; and [2] that Greenspan is not the magic man of monetary policy. I know it's shocking to learn that when New Democrats and Rabid Republicans agree on something, it might not be right. Call your parents, leave the compound, get deprogrammed and for heaven's sake drop out of the Maestro's cult already!

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