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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Haim R. Branisteanu who wrote (75194)3/4/2001 2:28:12 PM
From: patron_anejo_por_favor  Read Replies (2) of 436258
 
<<Tom you had the same situation 8 years ago with interest rates at 3% and the economy still in quasi recession>>

Haim, I respectfully disagree that the solution to this is to lower interest rates and increase the money supply at an even more unsustainable rate. Since 1994, commercial, mortgage and individual indebtedness have been exploding:

stls.frb.org
prudentbear.com

All this while GDP growth has been averaging less than 4% or less. The solution is to take the hit now, write off the bad loans, let the recession run its course and get on with it. Otherwise you're dooming the country to a Japan 1990-present scenario of prolonged debt trapping and ineffective monetary stimulation. No one has repealed the business cycle, despite BubbleBoy's New Era claims to the contrary. I agree that he is a raging egomaniac, however....otherwise he would have seen the demise of the bubble coming and got out in time, like Rubin did.
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