Greenspan Warns Deficit Could Wreck Economy

The administration’s own Federal Reserve Chairman, Alan Greenspan, warned this week that “The persistence of bloated U.S. trade deficits over time can pose a risk to the U.S. economy.” So far, Greenspan said, foreigners have been willing to lend the U.S. money to finance the current account imbalances, but “at some point foreigners might suddenly lose interest in holding dollar-denominated investments.

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As Expected-More Troops Needed

This weekend, Iraq’s Independent Electoral Commission announced the nation would hold elections on January 30. There are serious obstacles still to be overcome to meet that objective. Flawed or delayed elections would be a significant blow to Iraq’s stability and threaten civil war.

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Destroy The Rest Of The Constitution

Well, any hope that Bush might mellow a little as a lame duck went away this week with his appointment of John Ashcroft’s replacement. Bush proved Wednesday his personal contempt for the Constitution by replacing one hater of the U.S. Constitution with another – nominating right-wing zealot Alberto Gonzales to replace his head Nazi – John Ashcroft – as attorney general.

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Moral values – the Rove smokescreen

The media have unanimously accepted the notion that “moral; values” was the driving force behind the 2004 Bush victory. I’m not buying it, and I’m surprised that so many of the writers I admire have accepted this shabby explanation without a bit of skepticism. The last time the media acted with such earnestness they were conspiring to pack the nation off to war. I expect a similar deception is taking place now.

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The Election Fallout — Bush II Begins

I’d like to drop politics and the election as a topic, and I sincerely hope you’ll see less of it here, but the things going on now have the potential for an on-going impact on our day to day lives. So, I’ll continue to monitor Bush Act II. There is much to be concerned about. Bush’s only plan for unity is to “reach out to those who share our views.”

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What I Most Fear…

I know, by the time you finish reading this, if you get that far, you are going to think I’m a serious crackpot. I promise I’m no more crazy than anyone here in the U.S. (which may not be a ringing endorsement after Tuesday night), but in my life I have never feared for the future of the Republic before now.

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