Ask Michael Burke Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Ask Michael Burke

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Freedom Fighter who wrote (52901)	3/22/1999 12:50:00 PM
From: Don Lloyd	Read Replies (1) of 132070

Wayne - (Do you concede that it's at least possible that all he has managed to do is build the credit bubble to greater proportions than we have seen in many decades, if not ever? Because if that is the case, he is either the most irresponsible or incompetent Fed chief we have ever had.) I think you're confusing the man with the job. The job description is 'wizard', and it probably can't be filled. The FED has virtually no power to actually manage the economy, but can only jump on the gas or stand on the brakes. Variable time lags mean that the effects of policy are just as likely to result in positive feedback generated instability as in corrective negative feedback. Its only method of modulation is that of threats to do one (or both) of the two. All of the tools that the FED can employ generally affect all segments of the economy together, and cannot fine tune policy for one segment versus another. The only policy that would be positive would be a return to some form of the gold standard, and this is ruled out by its political impossibility. JMO, Don

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next