The Times February 02, 2006 The President is a dolt – so how can America be such a success story? Anatole Kaletsky TWO CEREMONIAL events occurred in Washington on Tuesday evening that shone a spotlight on one of the most important but paradoxical features of a modern democratic society. The more widely reported was President Bush’s State of the Union address, a weak and defensive speech even by his undemanding standards. At the other end of Washington, meanwhile, Alan Greenspan, the retiring chairman of the Federal Reserve Board, was bidding farewell to the institution whose skilful management of US monetary...
