You may have notice that I haven’t had a kind word to say about Herman Cain even as he’s risen in the Republican polls. He seemed an empty suit in his first debate appearance, and his thin resume is not a selling point in a country just burned by electing a community organizer.
Well, tonight’s endorsement of Father of the Economic Collapse Alan Greenspan should be the final nail in the coffin of Herman Cain’s electoral prospects.
Moderator: Which Fed Chairman has been most effective?
Cain: Greenspan [would serve as model] for Federal Reserve chairman. We should not eliminate the Fed, but fix the Fed.
Paul: Greenspan was a disaster. [Applause]. Greenspan kept interest rates too low to long. Paul Volcker was the best chair because he tried to address inflation. Bernanke compounds the problem started by Greenspan.
Cain was previously Chairman of the Board of the Federal Reserve Bank of Kansas City, which I’m led to believe is some sort of ceremonial position for business leaders who have absolutely no idea what the Fed does. Which is the charitable interpretation: he’s an idiot, not a conspirator.