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Non-Tech : Money Supply & The Federal Reserve
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To: Karen Lawrence who wrote (63)8/10/2002 6:12:15 PM
From: UnBelievable  Read Replies (1) of 1379
 
I Think There Is A Lot Of Ground Between Here And Armaggedon

While many of the issues that are raised in the article are based on fact, there is a clear editorial bias to the extreme and dramatic.

I don’t know if in fact there was a change in US or Federal Reserve policy on July 23-24, 2002. If there was I really doubt that it involved the implementation of a strategy that was oriented to preventing a meltdown before the mid-term elections.

The fact is the United States economy and the world economy is entering a period of economic decline. While it is my belief that it will involve, on a national and global basis far greater changes, and will persist for a greater length of time than anyone alive today has ever experienced, it will not be the end of the world.

I think we can safely assume that the US Government and the Federal Reserve will continue to follow the policies and strategies that they have been following in their attempt to forestall economic contractions over the last decade, until the impossibility of doing so is painfully obvious to everyone.

Unfortunately, these policies significantly undermine real economic growth. So “mankind” in aggregate will be less well off than they otherwise would have been had our “economic leaders” not tried to remove cyclicaltiy from free market capitalism

Fortunately, while we may not fully realize it, human happiness is not dependant on economic wealth.

Which isn’t to say that I don’t prefer more to less, as much, if not more, than everyone else.
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