AS GREENSPAN GOES, THE GREAT SOCIETY PART II ©

Alan Greenspan is considered the master of money; his words can and do cause the stock market to move. Greenspan is thought to be an economic guru. His forecasts shape the future of America, and the future of the world. Many consider it noteworthy that Greenspan served under several presidents, Republicans and Democrats alike. He was a Federal Reserve Board member under Nixon, Ford, and Reagan and in 1987, President Ronald Reagan appointed him as chair. All presidents have done the same ever since. Some believe Greenspan is independent and bipartisan, however, the Federal Reserve Chairman has his loyalties. “Economic well being for all” is not among these.

Alan Greenspan is a man of principles; principally he is a follower of “rational hedonism.” While Mr. Greenspan has long been a civil servant, his most significant service may have taken place during his formative years. It may be argued that his earlier employ was not the most important, nonetheless, few can dispute that it was the most influential.

Alan Greenspan was an associate and disciple for author and philosopher Ayn Rand. Ms. Rand advocates and writes of “The Virtue of Selfishness.” She actively promotes individualism. Rand rejects the notion of government. Essayist Rand rebuffs the basics of democracy. She unabashedly rebukes the idea of the Great Society; it is contrary to all that she believes. She supports “Objectivism.” She states that her “philosophy is, in essence, the concept of man as a heroic being, with his own happiness as the moral purpose of his life.” Encouraging independence is the Rand mission.

Ayn Rand denounces religion. She speaks out against compulsory charity. She expresses strident disapproval for government regulations. In her book, “Capitalism, The Unknown Ideal” she suggests that “altruist” are the embodiment of “evil.” She thinks restrictions inhibit businesses and businesses are the foundation for a flourishing society. Rand considers inflation iniquitous; she explains that government is its source.

Inflation is not caused by the actions of private citizens, but by the government: by an artificial expansion of the money supply required to support deficit spending. No private embezzlers or bank robbers in history have ever plundered people's savings on a scale comparable to the plunder perpetrated by the fiscal policies of statist governments.
Ayn Rand, "Who Will Protect Us From Our Protectors?" The Objectivist Newsletter, May 1952

Ayn Rand declares, “Government has no obligation to the less fortunate.” This last statement endears her to elitists, extremists, ultra-conservatives, neo-conservatives, and those such as Alan Greenspan.

Mr. Greenspan’s involvement with Ayn Rand was not superficial; nor was it from afar. In 1950, after completing his Master of Arts degree, Alan Greenspan joined the Ayn Rand Institute. For more than twenty years, Mr. Greenspan penned the Rand newsletter. Greenspan also authored a chapter in one of Ms. Rand’s books! In other words, Greenspan wrote and spoke prolifically for “Social Darwinism”!

Greenspan was able to capture the theories of Rand and avidly spread these. It was easy for him; he did it effortlessly, for these viewpoints were his own. Rand and Greenspan discuss “survival of the fittest.” They each believe that the strongest endure; they regret that the remainder might not live on; however, they consider this necessary.

As an enthusiast for the supremacy of entrepreneurship, Alan Greenspan went on to work for only the finest corporations. Mr. Greenspan served on the Board of Directors for many; he worked with Mobil Oil, Morgan Guaranty and Trust, and JP Morgan and Company. Think tanks asked him to advise. Over the years, Mr. Greenspan received numerous tributes and trophies. He experienced many triumphs, interestingly, many of these as a civil servant. He was and is a man working within the “government,” an organization that he longed claimed to disdain.

As Federal Reserve Chairman, during the Clinton years, Alan Greenspan was anointed the “Great Economic Guru.” He is credited with reducing the federal deficit. This acknowledgement helped to secure his current reign. Initially there was doubt, “Would George W. Bush choose to work with the Clinton maharishi?” Ultimately, he chose to do so.

It seems the two are a pair. In 2005, Greenspan often speaks in support of presidential proposals; he has since the president took office in 2001. Early on, this surprised many; however, upon reflection, there is no reason for skepticism. George W. Bush and Alan Greenspan each, share a strong belief in rational hedonism.

Mr. Bush has long been a follower; from the first, his lifestyle has defined his conviction. Now, under the auspices of the George W. Bush Whitehouse, Mr. Greenspan has allowed himself to be who he is. In 2001, Alan Greenspan supported the President’s proposed tax cut; he knew that this action would benefit the wealthy and the already strong. However, that is consistent with his faith in “Social Darwinism.” Yes, Greenspan acknowledged, a reduction in taxes would likely create a budget deficit, but no matter, the fittest will survive.

In 2005, Alan Greenspan voices his desire for privatizing the Social Security system. He admits the plan will not increase national savings; he accepts that individual accounts will not bring solvency to a struggling structure. Nevertheless, it will enrich the investors that he favors. Unexpectedly, he does confess to a difference with the junior Bush; Greenspan does not condone the necessary borrowing of trillions to implement the plan. Still, he offers his support.

At present, in May 2005, we experience another Greenspan delight. Acting on his and the President’s desire to privatize Fannie Mae and Freddie Mac, Mr. Greenspan knowingly withheld information that might question and calm stated concerns for the health of the systems. He would not wish the poor to secure home loans; that might better their positions. You may recall, in the world of Greenspan, “Government has no obligation to the less fortunate.”

For Mr. Greenspan, Mr. Bush, and all the other elitists and extremist that sponsor, “The Virtue of Selfishness”; might does make right. Greenspan and persons of his ilk are not republicans; nor are they libertarians. They are not independents; they are the true “Greens.” Look at their [green] back$ and their "forward thinking statements," all green!

My thanks MaxSpeak for the inspiring this reflection! WHY ALAN GREENSPAN IS UNFIT FOR PUBLIC OFFICE