Silicon Investor (SI) -- The First Internet Community

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.

Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Sam who wrote (8161)	8/27/1999 8:44:00 PM
From: Math Junkie	Read Replies (1) \| Respond to of 15132

As I understand the policy, I believe that discussing the effects of politics on the economy and investing is OK, as long as it remains civil.

To: Sam who wrote (8161)	8/27/1999 11:35:00 PM
From: JF Quinnelly	Respond to of 15132

">>Nevermind that he [Reagan}--or rather his friends, since he mostly just smiled and waved and told folksy stories--spent a lot of time badmouthing Volker for keeping rates high in the early 80s"<< From Volker's book Changing Fortunes, pg 173ff: "President Reagan must have received lots of advice to take on the Fed himself, but he never really did despite plenty of invitations at press conferences or otherwise. I never saw him often, as I had Mr Carter, nor did I feel able to develop much personal rapport or indeed much influence with him. He was unfailingly courteous, but he plainly had no inclination either to get into really substantive discussions of monetary policy or, conversely, to seek my advice in other areas. But I had the sense that, unlike some of his predecessors, he had a strong visceral aversion to inflation and an instinct that, whatever some of his advisors might have thought, it wasn't a good idea to tamper with the independence of the Federal Reserve, which, after all was said and done, was trying to restore stability. Certainly, the administration generally supported our efforts to restrain money growth in 1981, even at the expense of ferociously high interest rates. I recall particularly the delight with which Secretary Donald Regan received the news that we were about to raise the discount rate in May to help deal with a bulge in the money supply even though, as it turned out, that was very close to the peak of business activity." I just love catching you old Reagan-haters in the act of Clintonizing.

To: Sam who wrote (8161)	8/28/1999 1:50:00 AM
From: marc ultra	Respond to of 15132

Sam re<<<< never mind that it was Jimmy Carter who appointed Volker, for which he was thanked when PV raised rates a few months before the election.>>>> From what I understand Carter was facing an extremely difficult decision with political advisors saying a Volker appointment would probably mean a recession from a tight inflation fighting Fed and would probably sink his re-election chances while economic advisors told him we needed a credible inflation fighter. In what might arguably be a courageous decision he went with Volker who slammed the brakes on and helped end Carter's career though the hostages and other problems with Carter may have been the main factor Should this start a big political discussion I retract it all<g> Marc