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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: mishedlo who wrote (117538)	8/21/2001 12:49:48 PM
From: Jim Willie CB	of 436258

MishMan, dont forget GreenBald's quiet blunder in 1997 in the spring he wanted a "pre-emptive hike in rates" he was all a tizzy about irrational exuberance he feared inflation might arrive with renewed growth more like... feeling he missed out on his bond investments (only case of fed official NOT having blind trusts) well, his pre-emptive rate hike may have triggered the Asian Meltdown I have maintained this for four years US rates rise needlessly and irresponsibly then weaker Asian currencies weaken badly then all of Asia is in turmoil he disrupted the equilibrium, a delicate balance the blunders at the Federal Reserve are the greatest secret in the financial world I find it laughably ironic that GreenSnot is given great credit for the years 1994-1999 when he "allowed" growth to occur for God's sake, his brilliance happened when he relied upon the bond market's free equilibrium the bond market did not fear inflation in fact, it offered evidence of upcoming deflation the genius is not in GreenEye's mind it is in the free enterprise system, totally overridden by a bunch of septuagenarians who never ran a business I call the Federal Reserve our American version of the Communist Politburo they pre-empt free markets they tinker using heretical principles they have disdain for prosperity they cause their own "Fed Cycles" from serious errors in summer 2000, the Federal Reserve allowed for four months an INVERTED YIELD CURVE this destroyed economic growth, plain & simple as long as the Fed fights a mindless battle against a ghost of inflation, we are gonna see round after round of DEFLATION and the ravages that deflation causes books will be written about Federal Reserve blunders heck, Prez Monroe was scared to death after he created it he foresaw great danger in any institution attempting to control a free market / jim

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