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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (1719)	9/6/1999 1:03:00 AM
From: ahhaha	Read Replies (1) \| Respond to of 15615

No. You haven't got it at all. I didn't say that they couldn't do the job that they want to do, but rather the job they want to do is contrary to theirs and our best interests. What they are doing is creating the antithesis of what they intend. They want to slow economy so that the will to inflate will be subdued, but they don't want to slow it so much so that it will be painful. This is not possible. There is no set of policy actions that can bring about this contradiction in terms, because the economy will adapt to every palatable state without conceding the will to inflate. There is however non-policy actions which will work. They are Draconian and the current strategy mix is increasing the degree of extremes the FED inevitably will have to invoke. I will give yet another illustration. The liberals had an approach to foreign policy where they would draw a line and tell the adversary, "Cross this line and we will resist with military force". The adversaries cross the line. The liberals then step back and draw another line. They say, "Cross this line and we will resist with deadly force". The adversaries cross the line. This process continues until the liberals are up against the wall and so the only possible response is to launch all-out nuclear war. They say, "we did good because consider all the lives saved by retreating". Politicians reflect the attitude of the people. It is absurd to think otherwise. Should a politician do what constituents want or what the politician wants? Almost without exception they do what their constituents want. This is independent of whether a society's political system is based on elective democracy. When people complain about politicians they are actually complaining about the views and attitudes of their neighbors. The fault is not in our stars, but in ourselves. Keynesian techniques were used successfully by Japan belatedly starting last year to revive a stagnating economy. The technique worked up to what it can do. The intrinsic problems remain unaddressed. The problem is neo-mercantilism which is attitudinal. Keynesianism can't help on that front. It takes leadership, but the people don't want to be led out of their pretend little ego maniacal empire. When the cash runs out the trouble will be back, but it won't be due to a failure of Keynesian techniques.