My Gramma, The Next Fed Chairperson

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Did you guys catch Alan Greenspan on 60 Minutes, last night?

He’s all like:

  • I did not foresee the mortgage crisis.
  • I did not necessarily endorse Bush’s tax cuts, even though I did, and I would not take back a word of my testimony.
  • I think Hillary Clinton is a more than capable woman and could be president; however, my preference is to vote Republican.

Brilliant economist or stodgy old man? You be the judge.

It got me thinking about my own grandmother, a brilliant shopper and a stubborn old lady (her words), who lives on less than $10,000 annually. My Gramma is the kind of savvy shopper who goes to Walgreens with enough coupons so that they owe her money at the end of the transaction. She’s on a first name basis with the store management team at CVS. She memorizes the Osco sale flyer on Sundays.

She’s sharp, yo. She can manage a nickel and turn it into a dollar bill.

My Gramma could be the next Federal Reserve Chairperson. Besides being the only Republican in my family, she is a strong fiscal conservative.

  • If you don’t have it, don’t spend it.
  • Even if you have it, don’t spend it. Save it.

She lives by these mantras, and she believes in surpluses. She believes in accumulating wealth. She believes in saving, spending wisely, and avoiding flashy purchases. She believes that a penny saved is a penny earned.

Gramma could pass a confirmation hearing in the senate by baking a strudel, talking about economic policy, and bonding with the Republican senators over a shared hatred of the Clintons.

Watch out, Ben Bernanke.

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