Yes a recession – but … I didn’t cause it

That was surely the line muttered under his breath by Alan Greenspan after the former Federal Reserve chief pegged recession chances at better, or worse, than 50-50 (depending on which way you look at it). But, St. Alan claimed the economy has not entered a recessionary state marked by sharp falls in orders, strong rises in unemployment and intensive weakening of the economy.

Really? Forget to read the March unemployment numbers last week, St. Alan? Or the durable goods orders?

At least St. Alan is honest about his politics:

“I’m Republican and I support John McCain, who I know very well and who I respect a lot,” he said.

Personally, I’ve always thought that the Fed chief should be as apolitical as military generals are theoretically supposed to be. But, Greenspan didn’t stay in power for nearly 20 years by being apolitical.

And, his “genius” legacy? Another gift of Slick Willie. Why Clinton renewed is term in the 1990s, is another one of those DLC ideas I will never understand.