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Dow skids below 11,000 level on rate worries
Reuters via Yahoo ^
| 6/6/06
| Reuters
Posted on 06/06/2006 9:02:56 AM PDT by philsfan24
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To: djf
Greenspan did not increase interest rates because of irrational exuberance.
I know that. He increased rates because he thought the economy was growing too fast. And the recession he caused in 2001 certainly reduced his fears of too fast growth! I mentioned irrational exuberance because it is linked to Greenspan talking down the stock market and being an asset manager at the time. Is this the role of the Fed? Of course not, just manage the money supply, damnit.
He increased rates because that's the only way to keep foreign investors buying T-bills at the treasury auctions.
Well...that certainly worked well didn't it?!
41
posted on
06/09/2006 4:23:45 PM PDT
by
gipper81
To: stephenjohnbanker
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