Tell me if this has ever happened to you. Someone you know really well does something weird or totally out of character.
Let's say you know this guy who's so timid, he'd move out of the way of his own shadow. Then out of nowhere, he totally flips out at a restaurant and starts throwing food and screaming to the waiter, "This isn't what I ordered, jerk!"
Believe me, when people do things that they don't normally do, we take notice. And so we should. We rightly ask, what's up? So we are rightly asking now, what's up with Alan Greenspan?
Why is this normally cautious, some would say stingy, Federal Reserve chairman suddenly getting so wild and crazy? Why did he, out of the blue, cut interest rates another half-point.
Now, as I've been saying all along, a normal person would have cut rates a lot more and a lot earlier. Alan is not a normal person.
Don't get me wrong. All I'm saying is this guy doesn't do wacky things. Never did.
What moves he has made on interest rates have usually been stingy and usually been slow. A quarter-point was as sexy as he got. And usually never ahead of a regularly scheduled fed meeting.
But think about this: Twice this year — twice — Alan and his buddies at the fed have cut rates between powwows.
That's pretty flashy stuff. It would be like the Pope swigging tequila at a midnight mass! You just don't see it.
Again, don't get me wrong, I welcome all this. I just wonder, what's changed? I think Alan sees something we don't. Maybe he's just waking up to the fact that he should wake up. It's just weird, that's all.
He's too old for a mid-life crisis. And too dignified to admit it's an old-life crisis. But there must be a crisis.Why else would he be so wild and crazy?
He's this close to stripping down outside the fed and singing, happy days are here again.
You laugh. I've already got a camera crew at the ready.
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