More Updates

For whatever reason, we've just been in a hot news cycle lately.

1. The Search Continues. Coach Walsh's lips remain sealed on who he's leaning towards hiring in a town that cares even more about BC's head coach than Mark Richt himself. Read here.

2. Goodbye Greenspan. Today marks the end of the chairman's prosperous 18-year tenure at the Fed. Greenspan did an outstanding job of keeping the money supply sound during the good times and providing excess liquidity during the rough ones (namely, the Asian financial crisis in 1997). While we didn't go back to the gold standard, the Greenspan standard was almost as good as gold. My only criticism is when he kept rates artificially low well after the crisis was resolved, fueling the "irrational exuberance" of the late 90's, which ultimately caused the 2000-2001 recession.

3. State of Our Union. Tonight, the president is expected to "push" for ethanol fuel and other alternative energy sources. What does that mean? Did Harry Truman "push" for the invention of the television in the late 1940s? No, the market did that. Did George Bush Sr. "push" for the invention of CDs in the late 80s? No, the market did. Leave things alone, let the price system do its job. Please stop getting in the way of things.