Terry McDonough wrote: > The criticism of Greenspan's monetary loosening is I suppose the flip side to > this. But did Greenspan really have a choice? Without the interest rate > declines stagnation would have set in much sooner.<
Arguably, Greenspan's allowing the two bubbles to occur delayed the stagnation but allowed imbalances to accumulate in the economy, making the crash at the end of his reign that much worse. and global too. -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
