Albion Monitor /Commentary

Greenspan, the Voodoo Man

by Jim Hightower

Greenspan really serves the private-profit interests of Wall Street investors, wealthy bondholders and corporate chieftains
Alan Greenspan is at it again. He's the Voodoo Doctor of our national economy ... only he's scarier and far more dangerous than real voodoo doctors.

Greenspan heads The Fed -- our country's central bank -- and he recently studied the entrails of a freshly-slaughtered chicken . . . and decided that he would raise our interest rates in order to STOP INFLATION.

Greenspan the Voodoo Man is dedicated to fending-off inflation. Never mind that inflation is low and shows no sign of rising, Alan says he must make sure inflation remains buried by constantly fighting it . . . even though it is not there.

What is this "inflation" that he's so scared about? It's a code word for "wages." That's right, ol' Doc Greenspan is doing everything in his power to keep your wages down. Eighty percent of us Americans have either barely kept-up with inflation or seen our wages fall during the past couple of decades, even though we've produced astonishingly high levels of productivity, corporate profits, stock-prices and top-executive pay.

Although Greenspan is appointed by the president and confirmed by the congress to be the chief economic official of the U.S., he really serves the private-profit interests of Wall Street investors, wealthy bondholders and corporate chieftains. They all profit when your wages are down, and that is exactly why the Voodoo Man has been put at the head of The Fed -- to keep you down, and them up.

It's interesting that The PowersThatBe tell us that the strength of our economy is that it exists without any central planning. Yet this is precisely the role of the secretive, antidemocratic body called The Fed -- to manage the economy from the central bank, deliberately using government power to hold people's wages down. They are stealing from us, pure and simple.

Don't be bamboozled by the economic jargon of Alan Greenspan. When he says he's fighting inflation, he's really fighting your wages.

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Albion Monitor April 15, 1997 (

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