VOLTAIRE'S PORCH-MODERATED Message Board

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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: edamo who wrote (31666)	2/22/2001 10:25:32 AM
From: thames_sider	Read Replies (1) of 65232

and gave him free reign edamo, that's a beautiful Freudian slip - or else a very clever pun... using 'reign' for 'rein'... Otherwise, I agree with you. The Fed does not set macro-economic policy - as I understand it, it has the remits of stability of monetary policy (supply, inflation etc) within the framework set by the Administration. If we choose to gamble on ever-increasing liquidity, despite the warnings of authority that such is irrational, then if we lose we have fooled ourselves - blaming the casino may be meaningful, blaming the bank which lends us the money is not. Greenspan's neither hero nor villain, but a man doing a specific (and difficult) job, which causes us to perceive him as one or other depending on whether he makes us richer or poorer...

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