Alan Greenspan MUST GO: Message Board

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Pastimes : Alan Greenspan MUST GO:

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To: Master (Hijacked) who started this subject	3/21/2001 11:46:13 AM
From: wdlngduc	Read Replies (2) of 494

We all agree: Greenspan Must Go! Let's assume he did resign and a new Fed Chairman was appointed, would it REALLY make a difference? I've given this some thought and conclude that a new Chairman would be more liberal in his rate cutting. But would it make a difference, except psychologically? My answer to that is: not much. The American consumer is over-bought on stuff. They are in hock up to their eyeballs. The mess already made means a period ahead with more layoffs to come. Personal bankruptcies are sure to explode to an all-time record. The so-called "wealth effect" has been shredded. Rolling blackouts in California will slice some points off GDP, and thwart the recovery we wish for. The Japanese banking situation is a negative over the near-term to the entire world. Bear markets can feed on themselves, just like bull markets can. So, the devil we know (Greenspan), probably wouldn't be replaced by anyone who could pull a rabbit out a hat either. But I think we all agree, a new Chairman couldn't be much worse! The outlook, I'm afraid, is not too bright. Wdlngduc

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