MOGAMBO GURU: Automakers Have No Plans For Mogambo Supercar Supreme-o

[Tace]

Richard Daughty, the angriest guy in economics
email: [e-mail]

-- The Fed actually drained a little credit last week, taking it down $3 billion. Why? I figure they were all too busy partying too much and drinking too much and pinching each other on the butt too much. Probably giggling too much while they were doing it, too. Now that Ben "Bird Brain" Bernanke has been chosen to take over the Federal Reserve, they know that when the guy running the show actually WANTS inflation, as he manifestly does, then it is time to celebrate with a big, blow-out toga party, using some petty cash to get some kegs of beer and some of whatever in the hell they are smoking that makes them think their stupid little New Age theories could possibly work in the real world.

But I have not personally gone to the Federal Reserve to check on them, as I feel kind of crappy here lately, mostly as a result of getting violently sick whenever I read about how Alan Greenspan (whom I consider the absolute worst central banker in American history) is such a hot shot because of his "deft" handling of an Argentina crisis, or a Russian crisis, or a Korean crisis, or a Mexican crisis, or a Philippine crisis, or a Long Term Capital Management crisis, or a Y2K crisis, or blah blah blah. I can hardly read one of these stupid articles without gagging and sticking pins in a voodoo doll of the guy who wrote it, because what none of these clueless, dimwit "journalists" seem to understand is that Alan Greenspan CAUSED all the crises in the first damned place by creating so damned much money for so long, and all that money eventually percolated into all these other things, and after awhile it got into trouble after causing bubble after bubble all over the place. Then something inevitably bad happened as a result. And then to try and "help" by correcting his stupid mistake, he continually jammed MORE money into the economy! Astonishing! He "fixed" the problem he caused by driving interest rates down to insanely-low rates, and thus insured that we would soon suffer from more price inflation that inevitably follows such reckless monetary inflation!

Now I must pause, as I have just re-read what I just wrote, and I made myself sick again. Urk. Taking a deep breath and gobbling a taco for strength, I feel life returning to the brawny arms of The Mogambo (BAOTM), and ducking into a nearby telephone booth, I emerge again as the mighty loudmouth Mogambo (MLM)! Now I have a new, vibrant vigor in my voice as I say that all of this Alan Greenspan crap is the opposite -- the exact freaking opposite, I tells ya! -- of what a competent central banker is supposed to do! If he really WAS a good central banker, none of these bad "crisis" things would have happened in the first damned place! If Alan Greenspan was a great central banker, his 18 years in office would have been one of smooth, orderly, non-inflationary growth with a generally rising standard of living for everybody, instead of the disgusting piece of crap we call the American economy and, as the logical extension, the global economy. In fact, this theme is echoed in the title of a book by a guy named Karl Hosch, which reads, "The Whole World Is Going To Crap!!!" and I note that the three exclamation points are his.

But what we got from Alan Greenspan and the buttheads that infest the Federal Reserve, as I ceaselessly point out over and over and over again mostly because there is something seriously wrong with me, is the opposite of what we should have gotten. Even Bill Bonner at the Daily Reckoning wonders why it is that "Bloomberg reports that wages are rising more slowly than at any time in the last 24 years," and if this is true, then he wonders, "If Alan Greenspan has performed such a good job of managing the economy, you might wonder why people are not earning more money."

more

http://worldnewstrust.org/modules/AMS/article.php?storyid=1569