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: Mike M2 who wrote (188672)	8/20/2002 11:44:37 AM
From: SouthFloridaGuy	Read Replies (1) of 436258

I agree and disagree. Given the low inflation of the 1990's, monetary policy was actually quite tight up until LTCM and Y2k. But don't blame the man for 1 1/2 years. AG certainly could have been more vocal against FISCAL and PUBLIC policy - which is the real culprit behind the fiasco. The US Stock Market bubble/Dollar bubble was a phenomena linked to Japan's savings surplus and the increased demand for US investments. He did prick the bubble in 2000 and now he's trying to manage the bubble. I am pissed off just like every other shorter about that, but the alternative is far worse - a 1930's style deflation would suck big time and I for one am glad we have a Fed governor who recognizes that. I would much rather have INFLATION than deflation because at least with inflation, I'd have a job. While AG certainly should be blamed for some of the things you talked about, he in no way is totally or even 1/2way responsible for the current mess. For that, you should blame the Baby Boomers, Wall St., Bush Sr/Clinton/Rubin/Gingrich/Lieberman/Congress/Bush/Israel/Palestine/Japan/Europe, etc, etc.

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