Evening all,
If Greenspan were a horse (and you chose to race him rather than consign him
to the knacker's yard), would you not see in the formguide years of attempts
to regulate those animal spirits out there through hints and empty warnings?
A deliberate leakage is my bet here. And one with
K
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on 23/3/00 12:18 pm, Rob Schaap at [EMAIL PROTECTED] wrote:
Anyway, if the problem is daft values on the NASDAQ rather than on the DJI,
a gutsy hike might slow investment and production whilst leaving the problem
Tom writes:
The problem is that the debate will be limited to bailing out the big
bourgeoisie with cuts in the Federal funds rate and cheap funds at the
discount window. If the Fed chose instead to give every citizen a $1,000
grant, I don't think anybody would argue that the powers of financial
Doug writes:
Dunno, but there's a piece in the current Fortune claiming that Alan
G. really really wants the stock mania to stop, so rates may rise
more and more quickly than anyone ever knew. Hard to tell whether
this is well-leaked or just the reporter's speculation though.
Hey Doug - You
Ellen Frank wrote:
Instead the Fed restricts its lending
to financial institutions.
Yeah, but it doesn't do much of that; discount window borrowings are
pretty rare. It's all open market operations.
I thought, though, that under the 1980 law - called something like
the Depository
Ellen Frank wrote:
Hey Doug - You know, I just don't beleive this stuff about
the stock market. I mean, if the Fed wanted to burst the
stock bubble, why not raise margin requirements? Why
pussy-foot around with 1/4 point rate increases that
the market keeps discounting in advance? There's not
Ellen Frank wrote:
Well, the fat boys can be soaked via taxes and other forms of expropriation
or the rich can be by-passed altogether, by creating alternative forms
of social wealth. These are not mutually exclusive.
That's what I don't get - how can you bypass the rich. If money and
capital
Tom wrote:
This kind of disconnect between Fed signals and market movements is
unsustainable. Either a new consensus forecast for interest rates will
form or the Fed will begin to lose its sacred "credibility."
In a way, the Fed has already lost its credibility. After applauding John
I wrote:
it's clear that monetary policy has its limits, since Greenspan
has been failing to slow the economy down for months now.
Tom writes:
The major econometric models predict that a 25 basis point increase in the
Federal funds rate will decrease the rate of growth of GDP by one-tenth
The annoucement is from a former colleague in NYC government, Sofia
Quintero, who is now the editor-in-chief of a new website,
politicallylatino.com. She is looking to hire a progressive latino/a
economist or collective of latino economists who would write for the
website
on a regular, freelance
itly agree
with what Gen. Charles de Gaulle enjoyed saying out loud: Oui to American
help if we ask for it, but non to American strategic direction through NATO.
for more, see http://www.latimes.com/news/comment/2323/t27414.html
sometimes conservatives provide an amazingly non-ortho
I suspect that Greenspan, like Clinton, were very fortunate in presiding at a
time of prosperity and riding old wave of good luck -- sort of like the TV
weather personality grinning because it going to be a beautiful day. Well, who
knows, maybe the weather is going to be a little bit rough.
Jim
Ellen Frank wrote:
... rentiers hoarding funds and businesses looking
to expand.
I don't remember this bit. Why would rentiers
want to hoard?
--
Barnet Wagman
email: [EMAIL PROTECTED]
Ellen Frank wrote:
Doug writes:
>Dunno, but there's a piece in the current Fortune claiming that Alan
>G. really really wants the stock mania to stop, so rates may rise
>more and more quickly than anyone ever knew. Hard to tell whether
>this is well-leaked or just the reporter's speculation
BLS DAILY REPORT, WEDNESDAY, MARCH 22, 2000
The Labor Department's Bureau of International Labor Affairs reports the
service sector has generated the most job growth since the 1980s in both the
United States and Europe, but the growth has been much stronger in the
United States. ILAB made the
Ellen,
Iam properly chastised. Now, the question is,
does anyone still hoard? There are plenty of
virtually risk free, short term financial instruments.
The municipal bond market seems pretty damn
liquid these days. And for those of us of more
modest means, there are interest bearing checking
Barney writes:
... the question is, does anyone still hoard? There are plenty
of virtually risk free, short term financial instruments. The municipal
bond market seems pretty damn liquid these days. And for those of us of
more modest means, there are interest bearing checking
accounts.
Yesterday, the Supreme Court significantly weakened trademark law in regards
to "trade dress", the idea that companies can sue other producers for
resembling the design of their product. While the case benefitting
Wal-Mart's right to "knock-off" the design of other more expensive products
has a
I'd say that instead of hoarding, what can happen today is that the
illiquidity premium goes up (relative to cash), so that the illiquid assets
have to pay more for tying up one's assets (as people get wary about
capital losses on such assets). In this case, most people's portfolios
would
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