THE CHAIRMAN is Coming Back to Washington!

Now THIS is good news!  Chairman of the Federal Reserve (I will never refer to him as former, and yes I do have a man-crush on him) Paul Volcker is coming to Washington DC to head up a new White House panel to revive economic growth.  I want to say right now that all the other folks like Rahm Emanuel (Obama's incoming Chief of Staff) should keep their ears open when The Chairman speaks and use their mouths only to say, "Yes sir Mr. Chairman."

I know I'm going overboard here but Volcker is going to make a huge difference.  Trust me.  Between his intellect, experience, 6' 7" 300 pound frame, and the fact that he brooks zero bullsh*t, he is going to get things done.  Some of the things he recommends will probably hurt, but this is the guy that crushed inflation in the late 1970's- early 1980's and set us off on a twenty-five year prosperity binge.  I know a lot of you out there do not like President Jimmy Carter BUT, Carter is the one who appointed Volcker to be Federal Reserve Chairman even when his aides said, "If you pick Volcker, he will do what he has to do to crush inflation.  To do that he will most likely throw the economy into recession right as you are going to be running for re-election.  You will almost be guaranteed to lose the Presidency.  Carter said, "Is he the right guy to get rid of inflation?"  His aides said yes, and Carter appointed him.

Think about how much of a pompous, self serving ass Greenspan is and know that Volcker is the opposite.

Here's the Bloomberg story Volcker Said to Lead New White House Panel

Comments

[ibis]

Volker is OU, Greenspan is Texas Tech. Volker is John Holmes, Greenspan is George Costanza, i.e. "I was in the pool! I was in the POOL!!!"....

[Eric Salzman]

Amen Chuck.

Jackal, this is the first good news i've heard..in years

[Chuck]

Hearing Volcker is named brings forth memories of the film "Stagecoach", when the stagecoach passengers, after being attacked and nearly overrun by Indians, find the cavalry riding to their immediate rescue with Mrs Mallory interupting her whispered prayers to exclaim "The Bugles!" when the trumpet is first heard and the cavalry comes charging hard with sabers drawn.

That scene should be enough to wring a tear from the eye of nearly every red blooded American. Let's just hope we haven't yet wasted all our seed corn.

Let's also remember that the pilgrims nearly died their first winter in Plymouth Colony, but survived, and laid a great foundation of earnest endeavor upon which a once great and prosperous nation was built. For that we should all be thankful.

[Jackal]

Eric, I agree. Volcker coming back into the picture is the best news in a LONG time....in my opinion it trumps the bailouts and other appointments by Obama.