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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: TobagoJack who wrote (117317)8/18/2001 12:34:33 AM
From: AC Flyer  Read Replies (4) of 436258
 
Jay:

How does your HKMA buddy feel about being publicly quoted in his description of the Governor of the Federal Reserve Board as "senile?" This kind of cheap sniping and anonymous name-dropping is egotistical and juvenile.

Alan Greenspan is clearly not, by any standard, senile. My own observation is that we all owe AG a lot for persuading a young Clinton administration to adopt a policy of (relative - they were Democrats after all) fiscal restraint and deficit reduction with the resulting positive effect on the bond market that we are still enjoying eight years later.

I quote from a 1998 article by Lawrence Kudlow in the National Review: findarticles.com
{Nobelist Milton Friedman recently introduced Greenspan to a Stanford audience by calling his performance "better than any prior Fed chairman. Supply-side economist Robert Mundell, one of the architects of Reaganomics, calls Greenspan "the greatest Fed chairman we have ever had." On the other side of the political spectrum, arch-Keynesian Yalie James Tobin, also a Nobel Prize winner, gives Greenspan an "A": "His bark has been worse than his bite. He rejected mechanical monetarism by letting the economy advance. I am pleased with the results."}

By all means go over-weight the Euro. It might be a successful short-term trade. With a longer time horizon, it will be a mistake to bet against the $, imho.
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