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Politics : Formerly About Advanced Micro Devices

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To: Mike Torrence who wrote (129730)	12/15/2000 8:39:53 AM
From: boris_a	Read Replies (1) of 1571088

Couldn't disagree with you more strenuously. Actually, I just wanted to show some possible implications of the US trade deficit, because I believe many people are not aware of the side effects of such developments. This is not the same Greenspan you remember from the late eighties-early nineties. This might well be the case. Here in Switzerland, our fed opened the (money) floodgates in 87 after the October crash. But the expected recession did not happen and Switzerland (with historically very low inflation) ended up with 7% CPI in 1990. To reinstall the international reputation of price stability, we got immediately very high rates. Combined with some minor disadvantageous economic developments, Switzerland got in a deep recession with high unemployment rates. It took about 8 years to get out of this mess. Maybe my judgment about Mr. Greenspan goes back to this time when I watched jealously Alans more or less brilliant policy. Regards, Boris

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