The December 28, 2009 issue of Time magazine, which is on newsstands now, features its Person of the Year segment. This year’s pick is Ben Bernanke, Chairman of the Federal Reserve. Now, I get that there is a huge argument in favor of the Federal Reserve as well as one against it, led mostly by Congressman Ron Paul. But I will admit I don’t know much about the actual workings of the Fed other than what is outlined in an economics textbook. It is on my list of things to research … have no fear! I will say other than reducing interest rates to as near zero as the Fed can get and injecting hundreds of billions of dollars in cash that never really existed to shore up the financial system in the months following the collapse of Bear Sterns, should Bernanke be given all the credit? I think not. As a matter of fact, I believe someone else deserves the honor but let’s first look at the #2 through #4 people on the list.
General Stanley McChrystal is runner-up. Choosen due to his successful campaign for a surge of troops in Afghanistan. I don’t have any issues here except I am a little skeptical of America’s commanders as of lately. Please don’t misunderstand; I believe they are some of the finest examples of committed and loyal patriotic Americans we have. But it appears politics is increasingly getting mixed in with military affairs and I think we hurt our ability to effectively conduct wars with bureaucrats breathing down their necks. So, to a degree, some military leaders must become politicians themselves. Think back to the General’s damage control he had to do after the President announced a draw down date in Afghanistan.
The third person … or people … are the Chinese Worker. That’s right! The good ol’ Chinese Worker. Time cites the annual growth rate of the Chinese economy at 8% and the emergence of a middle class as its main reasons. Well, I would say they make cheap stuff … cheap! However, America still dominates in durable goods and, for the moment, leads in advanced jobs in the technology sector. Let me know when the Chinese are building locomotives, airplanes, writing software, and designing next generation medical equipment and I will say otherwise. Wait a sec … that is probably around the corner!
Finally, last on the lineup, my personal favorite. Speaker of the House Nancy Pelosi (or President Pelosi IMHO). The Time caption reads “No longer underestimated, the highest ranking woman in U.S. history wields the power of her office more effectively than any other House Speaker in modern times. It’s not wise to get on her bad side.” Interesting. Although I agree her rise to House Speaker would reinforce that part of the statement but using her power effectively? She is a bully and a party player plain and simple. It can be seen nearly every time she is on TV answering media questions. Afterall, she has no problem telling you “We write the bills. We won the election.” Does simply having the numbers make you effective? I would say not with her version of the health care bill narrowly passing in her house by only a margin of 4 votes (one of which was a Republican vote) when her party holds a super majority.
Well, that wraps up the Time picks. Now here is mine!
Ed’s Person of the Year Award goes to …
The Main Street American Worker (employed or unemployed)!
Why? Well, why not? After watching their retirements fall, home values plummet, credit lines trimmed, coworkers disappear in the cubicles or assembly lines next door, having to tell a loved one they lost their livelihood, and stress levels through the roof, they have weathered the storm better than any American can be expected to. They assembled peaceful protests based on principles and values in demonstration of out of control federal spending even if that spending could have reduced their own personal pain. They fought for a voice for their children and grandchildren. They patiently accepted terrible job news and economic data month after month with a new sense of living day to day rather than living week to week. They took and continue to take a boat load of spin, lies, and deceit from their elected officials and they do it all without use of force or violence in an attempt to finally be seen by the said officials as the real people in charge. For that, the Main Street American Worker is my choice!
Ed
