Posted on 12/15/2001 7:10:53 AM PST by churchillbuff
If that were the worst thing Greenspan ever did, I'd be thankful. Greenspan is the all-time champion taxpayer bailout king. While they tell us we are rescuing "poor old Mexico," even an establishment hack like Kudlow acknowledges the truth: you and I are taxed to bail out Citigroup et al. Since they can always count on us to bail them out, think they will do it again? and again? and again?
Moreover, his main point here is the capital squeeze that has choked off growth.
Kudlow alleges Greenspan is doing something that Greenspan would have no motivation to do and quotes erroneous statistics to demonstrate his point. What do you find so compelling in this argument?
Kudlow alleges Greenspan is doing something that Greenspan would have no motivation to do and quotes erroneous statistics to demonstrate his point. What do you find so compelling in this argument?
Greenspan cranked interest rates up & up & up in 2000 only to chop them down & down & down & down & down & down & down & down in 2001. ... Moreover, his main point here is the capital squeeze that has choked off growth.
Greenspan clutched and arrived at wrong-headed policy due to mis-analysis, not "motivation". In your future reference to statistics, please explain the rationale for the Fed's actions over the past two years as they rocketed rates up only to draw them down faster than a Las Vegas huer working for a tip ....
Kudlow would be a great Secretary of the Treasury. Who do you recommend??
Not someone with a Wall St./Banking background like Rubin or Kudlow. I'd go with someone from industry like O'Neill
This gives him cover to lower rates again for the 12 time in 13 months.
We both agree that an unelected, unaccountable individual acting in relative secrecy is anathma to a free, democratic society. You, however, only object to tight money and not to easy money as well. I object to both. Because anything other than the free market decisions in a free market of non-privileged market participants can avoid extreme swings in the business cycle. As famed Austrian economist, Ludwig von Mises says:
There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.
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