Henry,
I am dead serious about Greenspan's mumble jumble being months behind what we have been discussing on this thread. This is the third Greenspeak speech within the last 4 weeks that I forced myself to sit through. The theme is pretty much repetitive.
The time for action is now. If he is listening to himself, the US is the last oasis and absolutely cannot fall. Like I said earlier, he needs to take a look at his job description. He is the Chairman of the Federal Reserve, though an important role, he is not some global economic czar. Pay attention to what he can do, take a lead role and let the rest of the world fall in place.
If US falls into any form of a recession, the impact to the rest of the world could be devastating. We have to keep consuming at current pace, if not higher, just to keep the stability.
Of all the articles I have read, this guy Makin makes the most sense. By the way, do you know his backgound? I have never heard of him before.
aei.org
Is cutting rate for 250 or more the answer? The Fed had already been adding liquidity for quite a while. May be irrational exuberance, and therefore the wealth effect is the best answer.
Ramsey |
