IMAGINE that it is Day 1 in the post-Saddam era. The war is over, save for the mopping up of a few irregulars, the tyrant has been “dealt with,” to use military lingo, and Jacques Chirac is leading a charge in the United Nations to wrest control of the reconstruction process from the Americans and Brits who liberated Iraq.
In Washington, the Federal Reserve Board’s monetary policy gurus can no longer credibly contend that the fog of war so obscures the economic outlook that they have no idea what course to take, and President Bush has found time to introduce himself to the economic policy team he hastily assembled after he replaced his secretary of treasury and chief economic adviser.
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