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Politics : Ask Michael Burke
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To: Skeeter Bug who wrote (87103)12/19/2000 12:08:59 AM
From: Hawkmoon  Read Replies (2) of 132070
 
1. finagling productivity numbers through hedonic pricing.

As opposed to any other form of statistical finagling normally associated with the "dismal science"?

2. increasing money supply near double digit rates.

Two major events/issues have clearly contributed to having money supply jacked up to such rates for limited periods of time, namely the LTCM/Asian Contagion event, and Y2K. But AG has been severely constricting money supply since January and jacking up rates.

It's tantamount to having to punch the accelerator to avoid getting rear-ended, but then having to hit the brakes to bring yourself back down to your normal cruising speed. But I think AG has overdone the constriction and needs to send a clear signal tomorrow.

3. making debt so cheap as to EXPLODE debt.

Huh?? What was the average interest rate back in the '50s and early '60s?

federalreserve.gov

And then compare it to US GNP, then and now:

forecasts.org

The real issue with regard to money supply growth is the quality of the loans that are being made and the value and liquidity of the collateral that is being provided.

So since US GNP has grown so tremendously since the 1950s, I guess I would have to ask you exactly when this "credit bomb" was officially armed?

Was it when the US went off the Gold Standard?

Regards,

Ron
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