Different River

”You can never step in the same river twice.” –Heraclitus

October 24, 2005

New Fed Chairman Nominated

Filed under: — Different River @ 5:36 pm

Alan Greenspan will be term-limited out of his job as Chairman of the Board of Governors of the Federal Reserve on January 31, 2006. (Actually, he was appointed to a fifth four-year term as chairman less than four years ago, but he is being term-limited off his position on the Board itself, and he can’t be Chairman without being on the Board.)

President Bush has nominated Ben Bernanke to succeed Greenspan.

Talk about big shoes to fill, in terms of public reputation. Bernanke is a solid choice, who has a long career as a respected economist and is now Chairman of the Council of Economic Advisors. It’s a very solid choice.

UPDATE:

The Wall Street Journal has collected the thoughts of several economist-bloggers (not including me, but that’s OK.)

“Karl Rove’s Garage Proves to Be Typical”

Filed under: — Different River @ 5:31 pm

It must be a very slow news day, when AP runs a story like this:

Karl Rove’s Garage Proves to Be Typical

By DARLENE SUPERVILLE, Associated Press Writer

Monday, October 17, 2005

(10-17) 16:57 PDT WASHINGTON, (AP) — He is “the architect” who steered George W. Bush to victory four times, twice as Texas governor and twice as president.

But can Karl Rove organize his own garage? Can the master of Bush’s political planning figure out where to put the ladders, paint cans and cardboard boxes?

There was no car in the garage. And the stuff left behind turned out not to be much different from what gathers dust inside most American garages.

The inventory, seen from outside:

  • Some cardboard file boxes stacked one on top of the other, labeled “Box 6,”"Box 4″ and what appears to be “Box 7.” No sign of boxes 1, 2, 3 and 5.
  • What appear to be paint cans stacked alongside a folded, folding chair.
  • A rather large wood crate marked “FRAGILE” and painted with arrows indicating which way is up. On top of the crate, two coolers.
  • A tall aluminum ladder.
  • A snow shovel leaned in front of another cardboard box.
  • Wicker baskets inside of wicker baskets on top of a shelf running the length of the rear wall. Transparent plastic storage bins crammed with indiscernible stuff. Another cardboard box.
  • In one corner, the rear wheel of a bicycle sticks out, along with what appears to be a helmet.
  • Another ladder, this one green, leaning sideways.

As The Common Room notes:

Transparent plastic storage bins crammed with indiscernible stuff? Typical Rovian perfidy. And we must know whether the green ladder leans left or right. Everything depends upon knowing this fact. Everything.

Either this is a joke, or the media are even more messed up than I thought!

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