> From: Jim Devine > >I think that the dominant perspective is that the system has minor >problems but that the Fed can fix those as they happen (if they're of a >macroeconomic nature) and that AG has done a good job at that. > >^^^^^ >CB; Is this perspective valid ?
>From the POV of the ruling class, yeah. Things have been pretty much going their way for almost 30 years. Doug ^^^^^^ CB: Is this, possibly , the result of new advances in "monetarist science" ? My general impression is that before thirty years ago the Fed was not able to, and possibly because it didn't know how to, run things so smoothly from the standpoint of the ruling class. Is it possible that "they" have solved the problem of general crises (!), knowing how to "spot" crisis or allow it to only occur in isolated industries or companies ? Pocket depressions only, especially in the U.S. Dump big recessions abroad.
