Word: poopers
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Dates: during 1990-1999
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Alan Greenspan, party pooper, is back on the job. The morning after the Dow and NASDAQ each threw triple-digit shindigs over May?s sleeping-dog inflation number, the Fed chairman told Congress ?- and, of course, the intently listening markets ?- to keep the music down just a little bit. "When we can be preemptive, we should be, because modest preemptive actions can obviate the need of more drastic actions at a later date that could destabilize the economy," he told the Joint Economic Committee. Folks, that?s as clear as the man gets without actually saying it: The Fed will...
...slow blues-lyrics-meets-Motown-rhythms tune followed with the rather humourous lyrics, "If you leave me, take your dog with you... and you pooper scooper too... scoop you way back to your mama's house." Diddley then joked, "If I was in Vegas, I'd have to sing it like this" and slipped into a witty Sinatra imitation singing "I'm calling it quits, no more Kibbles and Bits..." Blues with a sense of humor...
...coda, leads his rambunctious flock to the gates of sexual and political freedom without quite being able to enter himself. The truth is somewhat different: Milk was an engaging if slightly goofy pol whose defining moment to most San Franciscans was his televised illustration of how to obey the pooper-scooper law. While the Milk legend may not be justified, Korie does use it to create a narrative that pulls the listener along...
Nevertheless, it must be frustrating for any President to watch the Fed playing party pooper. That's why Clinton deserves great credit for supporting Alan Greenspan -- just as Ronald Reagan's best economic deed was standing by without protest as Fed chairman Paul Volcker wrung inflation out of the economy in the early 1980s. Clinton's fortitude is even more admirable, since Greenspan is trying to avoid a future bout of inflation, not cure a current one. And according to Woodward, Clinton's political advisers all think Greenspan is the devil incarnate, so Clinton gets extra points for resisting them...
...Avoid the temptation to take a victory lap abroad on Air Force One, even though visiting with Francois Mitterrand looks a lot more pleasant than dealing with honeymoon-pooper Bob Dole. At least wait until the GDP surpasses 2.7% growth...