Uncovering Greenspan's Bias

Like some voodoo sorcerer trying to foretell the future by studying a chicken's entrails, America's media establishment examines, dissects, analyzes, and reports every word that Alan Greenspan utters on any economic topic.

How curious then, that the media showed no interest in a most remarkable utterance that our nation's top economic official recently made about a crucial policy that affects millions of working families. Greenspan, in his usual imperious and droning way, was dumping a load of economic gobbledygook on the house banking committee, when Rep. Bernie Sanders cut through the verbiage to ask a direct question: "Are you for abolishing the minimum wage?" Startled, the master of obfuscation uncharacteristically blinked and blurted: "I would say that if I had my choice the answer is, of course."

Why didn't this make the evening news? Here's a man whose mutterings on pork-belly futures will make headlines and upset people's breakfasts worldwide, yet he publicly reveals his blatant corporate bias and ideological zealotry by decrying the very existence of a wage floor for working stiffs, and the media go oddly mute. In his exchange with Sanders, Greenspan reached new levels of ideological absurdity by asserting that he opposed the minimum wage because he considers it an "artificial government intervention" in the marketplace.

Yoo-hoo, Alan...Whom do you think you're fooling? Artificial government intervention is what you happen to do for a living. As head of the Federal Reserve, this banker periodically alters the market for interest rates so investors can profit at the expense of wage earners. In his 20-year tenure, Greenspan has routinely intervened to hold down the wages of working-class Americans -- wages that are lower today in real terms than when Richard Nixon was president.

This is Jim Hightower saying...By deeming it unnewsworthy that Greenspan so blatantly blurted out his bias, the corporate media barons have revealed their own bias.


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