A "Different" View??
Just for fun, and a birthday present to myself, I'll take a look back (in this blog), 74 years, at those "Fed" Chairmen who have impacted my life; and the Presidents they "served". For an old black guy who blogs, this should offer a highly unique "view" of our Federal Reserve System. We're approaching the end of the term for Ben Bernanke ("Uncle" Ben, "Helicopter" Ben). From the hub-bub in the media over his possible successor, it looks like we can't keep him in the job. I couldn't wait for "Mumbles" (Greenspan) to get the Hell out of that job; but I sure would like to keep Ben. Why? For the first time in my long life, a Fed Chairman, simply by doing his job well, has assisted an historic President in rescuing our economy from an attack (internal, self-inflicted) unlike any other in our history.
Everyone points to the similarities between the damage the Repoobs inflicted on our economy in 2008, and that of the Great Depression. We're told that Ben is an "expert" on the Great Depression.
I was born in the waning years of the Great Depression, and, from what my family history relates, this is no Great Depression. A great THEFT, maybe?
To start, Roosevelt, (the good one) was President when I was born. His Fed Chair was Marriner S. Eccles (term end: Jan 31, 1948). He also served Harry Truman. He was succeeded by Thomas McCabe (term end: Mar 31, 1951), who served Truman (only). William McChesney Martin, Jr. (term end: Jan 31, 1970) served Eisenhower, Kennedy, "Lyddy Biddy", and "Tricky Dick". Then came Arthur Burns (term end: Jan 31, 1978), who covered the Watergate years of Nixon/Ford, and the early Carter years. The rest of "J.C.'s" years were covered by G. William Miller (term end: Aug 6, 1979) and Paul Volcker (term end: Aug 11, 1987). Remember the "J.C. Can Save America" posters? Well, he really did with the Volcker appointment. Mad Ronnie gets the credit for Volcker's brilliance, though. In August of 1987, "Ronnie" replaced Volcker with Alan Greenspan; ushering in what became the darkest period in our economic history since Hoover (before my time).
Greenspan (term end: Jan 31, 2006) carried "Daddy Bush", Bill Clinton, and "W"; getting the "Hell out of Dodge" before "All Hell" descended on the rest of us. That brings us back to Uncle Ben, who is slated to leave us in January of 2014. His singular, heroic, ability to do his job well under spectacularly bad economic conditions in this country; made it possible for the first black President to wake up a stupid, and supremely ignorant populace, and just maybe, save the country from itself?
This country really is all about money, and Ben has known money better than most who came before. Thanks, Ben!
Stay Vigilant! Flush the Crap in the HOUSE in 2014??
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