Trader’s Narrative

Speaking of Greenspan and his attempt to white wash his legacy, I found this hilariously biting cartoon (see below). It is of a penguin at a book signing, admiring the “comedic genius” of the Maestro:

Penguin: “I have to hand it to you Mr. Greenspan — you are a comedy mastermind!

Penguin: “Remember when you were helping to inflate the housing bubble with historically low interest rates — and urging people to take out adjustable rate loans? What a classic! Pure comedy gold!

Penguin: “And what sense of timing you have! I love how the pause between the setup and the punchline can last — well — years! Like when you urged Congress to social security by raising the payroll tax — which disproportionately impacts low and mid-level earners!”

Penguin: “Two decades after American workers began paying the higher rates you asked for — you used the surplus they created as an argument in favor of Bush’s tax cuts for the wealthy!”

Penguin: “And then after those tax cuts lead to soaring deficits, your response — and this is priceless — was to propose cutting social security benefits! I don’t think Stephen Colbert could have done better!”

Penguin: “And to top it off now by claiming that you were actually opposed to the tax cuts all along — what can I even say? I stand in awe of your comedic genius, Sir.”

Greenspan: “Would somebody please taser the penguin?”

Click to Enlarge Cartoon

Credit:
“This Modern World” by Tom Tomorrow
at Salon.com