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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: ild who wrote (44687)	11/3/2005 12:02:04 PM
From: ild	Read Replies (2) of 110194

Date: Thu Nov 03 2005 11:35 trotsky (according to Greenspan) ID#248269: Copyright © 2002 trotsky/Kitco Inc. All rights reserved an inverted yield curve has 'lost its ability to predict recessions'. now how does he know that?? the LAST time the yield curve inverted, a recession DID immediately follow on the heels of the event after all. i'd advise everybody to shelve that one as yet another Greenspan prediction that fails to pan out - he's well known for his utter lack of forecasting abilities ( a worse record than even the average economist ) , and the bet should be that once the yield curve inverts, a recession will once again follow on its heels. there are very solid fundamental reasons for this after all. Date: Thu Nov 03 2005 11:26 trotsky (incredible...) ID#248269: Copyright © 2002 trotsky/Kitco Inc. All rights reserved the vapidity and ignorance on display in the questions the Congress-critters lob at Greenspan has to be heard to be believed. mostly it's incredibly embarrassing stuff...to the extent that these people have an inkling of economics at all, they are of course steeped up to their eyeballs in Keynesianism. i admire Greenspan for not bursting out in uncontrollable laughter when he e.g. reinforces their belief that the Fed is an 'inflation fighter'. he could have been a fine stand-up comedian with that dead-pan delivery. anyway, considering that the major purpose of politics is the 'regulation' of the economy ( in essence a racket where money is forcibly taken from Paul to be given to Peter to buy his vote ) , it is amazing that most politicians are such economic ignorati. Ron Paul is the lone exception to this rule, and not surprisingly, he's regarded as an 'oddball maverick' by the rest.

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