PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: Rarebird who wrote (756298)	12/20/2006 2:40:51 PM
From: DuckTapeSunroof	of 769670

"The Fed has virtually no tools to prick an asset bubble because their blunt instruments (interest rates) affect all players in the economy and punishing everyone with higher interest rates in order to prick an asset bubble in a single sector of the economy is not fair." Nor, I would add, is that their task. They are tasked with providing for a stable money supply and fighting inflation --- not with attempting to 'regulate' the business cycle. "But Nothing in the fundamentals requires this situation to be reversed immediately. The market will rudely take steps to destroy any premature bear who stubbornly dares to stand in its way." LOL! Agree with that as well. (What was it? Keynes who said "The markets can remain irrational a lot longer then you can remain solvent." :-)

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