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Non-Tech : The Woodshed
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To: Bert who wrote (9876)6/29/2004 1:44:27 PM
From: NOW  Read Replies (1) of 60921
 
"But a restrictive monetary policy would be the death knell of the financial markets and Greenspan knows it. That’s why the Fed will continue to pump, and despite all the pumping, consumer price inflation will not expand to unsustainable levels on a longer-term basis. The loose money policy will only help to feed equity and real estate prices at the expense of other assets."
Sounds like a virtuos cycle to me.
Lets see:
1) Pump up money supply keeping people feeling rich through home appreciation and local tax receipts high from assessed values
2) Keep foreigners on the hook for the dollar to support their export economies and hence LT interst rates in US dont go to high
3) Keep inflation evidence muted enough that folks dont mind
whilst high enough that governments can continue spending like there is no tommorow
4) Allow insiders to transfer massive amounts of paper onto backs of "investors"
Sounds glorious? How do I take part?
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