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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: russwinter who wrote (5662)1/21/2004 12:56:41 PM
From: Jim Willie CB  Read Replies (2) of 110194
 
got renewed opportunity here to feed questions to Greenspasm
Hump-Hawk is coming up again

I explained [to Kurt Richenbacher] a lulu of an avenue recently brought to my disposal. I have been invited to indirectly pose questions to Alan Greenspan himself. A college roommate of mine used to work under House Rep Bernie Sanders in Vermont. He has urged me to write a white paper for Sanders, accompanied by 3-4 pointed questions. The time has come to put maximum pressure on our Fed Chairman. We mavericks must stick together. The topics Kurt and I arrived at for grilling Greenspan during the next Humphrey-Hawkins testimony would be:

1. hedonic adjustments of computer system spending to distort and elevate GDP growth
2. money supply growth rising over 6 times faster than GDP, evidence of futility
3. dominance of financial sector debt growth, which yields no real economy benefits
4. the concept of economic recovery with 5% trade gap is utterly ridiculous

I have thought of a #5.
5. reflation now causes production costs to rise, thus adding pressure on US businesses, which have responded by an acceleration in job outsourcing to Asia

Russ, any thoughts on a refinement of points?
I hear the Dept of Commerce has ordered the phaseout of hedonic adjustments cited in #1

perhaps replace #1 with my new #5
attach a brief white paper following some polish of four questions, each focused and direct and hard-hitting

appreciate your thoughts
my friend Bruce emailed me last week to kick me into action
/ jim
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