Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: stockman_scott who wrote (78417)	3/10/2001 6:49:56 PM
From: FR1	Read Replies (1) of 436258

no one at the Fed -- not even its illustrious chairman -- is capable of managing a large and complex economy... The operative word is "managing". The duty of the FED should be to do nothing and only act in the case of a extreme emergency. Maybe a war or total collapse of economic systems. IMHO The primary fault lies with congress. It is the duty of congress to impress on the FED that the FED should not interfere with the economy except in cases of extreme emergency where there is a clear and present danger. Since congress says nothing and the FED has nothing to prevent them from tweaking the economy, we are going to get a constant dose of "proactive strikes" against the phantom enemy. Professors do not live for money. They live to have their economic theories proved correct. If you take no action you are a nobody professor and your theories are worthless. If you are constantly pushing buttons, you are on the cover of Time magazine and you can always claim your theories have been proven right (especially if you never articulate a theory).

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