Dear MMV - thanks for sharing your view. While I too - I regret to admit to you - am a fan of Uncle Al, life is too boring for everyone to be in unison [except maybe in a real utopia <vbg>.] So your contributions are definitely a good lightning rod. Having said that, I am genuinely puzzled by the profoundness of your statement, "He acted more like a politician who would pulse the public and then act up on them rather than being vigilant on the economy." I don't quite understand the idea of economics without people [or "public".] But then, maybe it's just me [yes, while I have only heard of Prof Sen only 2 days ago, I am already a head-over-heel fan of his, but I digress.]
Regarding easy money and bubble, and how much control the Fed has over what the street wants to hype, I haven't had the foggiest idea. OOH, the heavy weights of the stock market are still high by historic measures; OTOH, I ve a handful of stocks that are being traded recently below their cash level [debt factored in.] It seems to me that constant struggle between growth vs value. If inflation is in check, if growth is stagnant, I don't know what sort of vigilance one has to maintain. So, maybe we need to define "what is a easy money policy?"
Well, while this may be slightly offtopic, I am sure others won't mind you laying out why you think the world is on the blink [implicitly, I agree with you the influence part of Chairman Greenspan, but not the whole syllogism.]
Thanks
best, Bosco
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