Word: alanes
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With the projected surpluses on the rise, Alan Greenspan on board and the economy in the tank, some version of George W. Bush's $1.6 trillion tax cut is as close to a sure thing as we're likely to get in Washington this year...
...Alan Greenspan and the rest of the Federal Open Market Committee played it cool and cut the federal funds rate by a half-point Wednesday to 5.5 percent - exactly what the markets expected but maybe not what they were hoping...
...stakes just got higher for Alan Greenspan, and the rate cut might have just gotten deeper...
...electoral wreckage. He has gotten two unexpected windfalls: 1) the Clintons' shameless Kansas City checkout from the White House (the pardons, the $190,000 trousseau, the most corrupt sale of indulgences since the Reformation) has managed to make Bush look unexpectedly presentable by contrast. And 2) Alan Greenspan, Czar of All the Russias, came forth to say that W.'s tax cut might be a good idea after all. In other words, the frat boy had figured it out even before Greenspan did. W. gets an upgrade from idiot to idiot savant...
Usually, nobody loves pink slips like Wall Street. Job cuts are how bloated companies - and newly married behemoths - cut costs, and of course a few thousand more unemployed can do wonders for Alan Greenspan's inflation fears...