DESPITE HIS MIND-NUMBING surface erudition, Federal Reserve Chairman Alan Greenspan was the monetary equivalent of Calvin Coolidge, a simple-minded, see-no-evil boomer. During the George W. Bush years, he happily presided over an unregulated bubble economy that hid the deep ills in America under a thin tinsel of borrowed boom glitter. As deeply unimaginative and dishonest (by way of obfuscation) as Geroge W. Bush himself, Greenspan was nonetheless considered something of a god in 2003 when Astonisher.com Free (Thought) Banners attacked the fundimental tenets and effects Greenspan's policies.

Among the many evils that Greenspan wrought, one of the greatest was propping up the Bush administration during the early years of the Iraq War. At the time, Greenspan lowered interest rates to levels not seen in generations, and he held the cost of money there -- below the REAL cost of money -- for the rest of his tenure on the Federal Reserve, igniting a highly-leveraged, borrowed money building boom the likes of which America had not seen since... before the Crash of 1929 and the Great Depression.

As you'd expect, Greenspan's policies also ultimately produced the greatest housing crash in America since the Great Depression, plus the continuing leverage-ignited implosion of the financial markets in America and abroad, as Greenspan's cheap money recedes into memory and the survivors grapple with the resulting, present day problem of the cheap dollar.

In 2003, nearly four years before the sub-prime mortgage mess began the descent into the economic maelstrom, Astonisher.com Free (Thought) Banners was the first to predict where all this was headed... "The Great George W. Bush Depression."