And For His Next Mistake...
Alan Greenspan is retiring in less than four months and we still have no idea who might succeed him as Chairman of the Federal Reserve.
Bush is hinting at nominating an unknown for the position. From the article: Bush has made it clear that he wants to pick a candidate with whom he has some personal rapport, as he did when he nominated Miers, the White House counsel and a longtime associate, for the Supreme Court. This gives me no comfort whatsoever.
As far as I'm concerned, the only candidate that Bush should nominate is one who vows to shut down the Federal Reserve. I know that's not going to happen, but I can't imagine that whoever gets the nod will even come close to implementing policies to curtail the runaway devaluation of the dollar. We are headed for disaster and it probably matters very little who is at the helm when the ship goes down.
I nominate Thomas Sowell or Walter Williams for the position.