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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (3986)4/8/2004 7:01:18 PM
From: CalculatedRisk   of 116555
 
mish, in general I agree with you. But that doesn't mean we shouldn't try to fix the imbalances in our economy.

In my first post on this subject, I suggested two initial steps:
Message 20004279

1) The first step is to tighten credit requirements. We need to stop the moral hazard of rational speculation with programs like zero money down home loans. That alone would slow the RE market.

2) We also MUST change our fiscal policy to prepare for when (and if) we start tightening monetary policy. We need to repeal the Bush tax cuts (at least the top end cuts).

After that we can consider tightening to slow inflation. Perhaps the above two steps will be sufficient to hold inflation in check!

I agree that we would be walking a tightrope. But I refuse to just throw in the towel. I think it is insane to just keep on this same track.
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