Karl Rove for the Day, Vol. 2
(Again, click on the photo to see Rove and Bartlett's original masterpiece.)
From Saturday's Globe and Mail (Candada):
The red-hot housing market — here and across the United States — has sparked fears of an emerging asset bubble, fuelled by the lowest interest rates since 1958, when Elvis Presley joined the U.S. Army and Nikita Khrushchev became leader of the Soviet Union.
Welcome to the topsy-turvy economy that Alan Greenspan and his U.S. Federal Reserve Board colleagues sat down to ponder on Tuesday. While low interest rates have people like Mr. Guimmule dreaming about home ownership and investors cheering their resurgent stock portfolios, large swaths of the economy remain stalled.
Employment growth is anemic in the wake of a 2001 recession that zapped 2.3 million jobs. Manufacturers have cut employment for 43 consecutive months.