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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: yard_man who wrote (242923)5/29/2003 2:25:54 AM
From: j-at-home  Read Replies (2) of 436258
 
>>>Taken in the context of his overall testimony, it is almost as if the Fed chairman is suggesting the following: “I'm doing my part to flood the system with money, peg interest rates, adopt ‘unconventional measures’ to tighten credit spreads, and restore financial stability. But the US economy also needs cheap electrical power to fully recover, and over the intermediate future such cheap power will be a function of our utilities having access to cheap gas. My charter doesn’t extend to the regulation of the country’s energy sector; the FERC or some other regulatory body needs to ‘help’ in the power arena to rig those prices and mitigate any exogenous supply shocks that may affect the economy’s road to recovery.”

Sounds like a state-run economy or something, just need to merge the political parties and we can be on our way to USSR redux -g-
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