I have every reason to believe that Bernanki is worse than the others,
Greenspan seemed to be capable of learning from his mistakes, Bernanki
doesn't seem to have that capability. I really don't think we're going
to have a 1930's Depression, but I was in Graduate School working on a
Masters in Economics during the Carter Years, we spent a lot of time
talking about stagflation, what caused it and how to end it, if Bernanki
can't cause it with his current policies I don't know who can. In fact
it's beginning now.
On 11/15/2010 11:30 PM, Bob Sullivan wrote:
Peter,
No reason to believe Bernanki isn't just as good or better than
Greenspan and the others.
Remember Greenspan is the guy who brought you the mortgage/housing bubble,
talk about irrational exhuberance? ! ! !
I can't believe folks want to take us back to 1932 and Depression
monetary policies. :-(
Anybody checked Japan's growth lately?!?
Regards, Bob S.
On Mon, Nov 15, 2010 at 9:54 PM, P. J. Alling
<[email protected]> wrote:
The Fed is supposed to manipulate the economy within certain limits. Mostly
to anticipate the size of the money supply required to match economic
activity, to smooth out peeks and troughs due to natural variations. Money
acts as a lubricant in an economy, and just as with an engine the wrong
amount of oil will ruin it . The fact that The Fed has proven to be utterly
incompetent at it's task, about 3/4 of the time and the Obama administration
has chosen them to implement policies well beyond it's original scope,
(which did I mention it is often incompetent at), just scares the bejesus
out of me. The current Fed Chairman isn't Milton Freedman, he isn't Paul
Volcker, he isn't even Allen Greenspan, at least Greenspan had some idea
that something was going wrong...
On 11/15/2010 10:38 PM, Daniel J. Matyola wrote:
The point of manipulating the economy is not whether what is done is
good or bad; the point is to manipulate the economy.
Dan
On Mon, Nov 15, 2010 at 10:30 PM, P. J. Alling
<[email protected]> wrote:
I've seen it. The only problem I have with it is that they seem to think
that deflation is good. It isn't any better for the economy than massive
inflation, just bad in a different way.
On 11/15/2010 10:30 PM, Daniel J. Matyola wrote:
http://www.youtube.com/watch?v=PTUY16CkS-k&feature=player_embedded
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