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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: LLCF who wrote (81576)3/16/2001 1:58:52 PM
From: ahhaha  Read Replies (4) of 436258
 
Never underestimate the power of the FED to change things using fiat money. They didn't do that in the early '30s. It is almost certain that they will do that now. They have been since Jan 2. In fact, this will to compensate is what causes all the problems. It's called "counter-cyclical policy". In the '30s they didn't have this problem. We have the problem and its chronic. Their rationalization for doing it is that inflation is acceptable if reducing unemployment is expedient. They sacrifice the interest of the whole by distributing the pain over time in order to save a few who may not even exist, and so create pain for a lot of few who do exist.
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