Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: tejek who wrote (367155)	1/16/2008 8:07:40 PM
From: bentway	Read Replies (2) of 1575626

Ted, the sooner you realize that perpetual party bull markets are NOT a normal economy, the the rules have NOT changed, the better off you'll be. Greenspan had the tech bubble, and the RE bubble one right after the other on his watch. The first might be excused, but the second was CREATED by "Easy Al" setting interest rates to their lowest point in fifty years. If you want to know what Bernanke needs to do to set things right, study what Volker did after Nixon. I doubt he has the character or stones to do it, and it's NOT cut interest rates - it's just the opposite. en.wikipedia.org "Volcker's Fed is widely credited with ending the United States' stagflation crisis of the 1970s by limiting the growth of the money supply, abandoning the previous policy of targeting interest rates. Inflation, which peaked at 13.5% in 1981, was successfully lowered to 3.2% by 1983. [1] The change in policy contributed to the significant recession the U.S. economy experienced in the early 1980s, which included the highest unemployment levels since the Great Depression. However, Volcker's Fed also elicited the strongest political attacks and most wide-spread protests in the history of the Federal Reserve (unlike any protests experienced since 1922) due to the effects of the high interest rates on the construction and farming sectors, culminating in indebted farmers driving their tractors onto C Street and blockading the Eccles Building.[3]"

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