To: Lee who wrote (28803 ) 9/15/1999 2:30:00 AM From: Crystal ball Read Replies (4) | Respond to
Higher Interest Rates are the Cause, then the Symptom of Inflation, NEVER the Cure! Competition is the Cure. Greenspan's policy are simply wrong for America and for the Market. Liquidity and lower interest rates are the answer. Competition creates productivity, higher supply, lower prices, and with greater wealth, consumption that means demand, not exceeding it, as more productivity from high technology in a FREE MARKET competes to supply that demand at the lowest price and highest quality. Greenspan's policy of increasing Fed rates is anti-competitive, and are anti-free market. They only serve to limit production, thereby automatically limiting consumption and future wealth, and only serve the interests of centrally planned economies like Communist China and the Asian corrupted economies like Japan that ARE centrally planned by the Japanese Ministry of Industry and Technology MITI ----Greenspan's thinking is just how the US lost its steel mills, auto industry, televisions, computers, and computer chip industry....now he is after internets. He nver learned the lessons of the Great Depression, Keynes or Galbraith, (That on the liberal affluence side did go to far, and violated the above basic economic laws, just as Greenspan now is doing on the reciprical side). Economics is a balance, and equilibrium, between supply and demand and if Greenspan continues unabated, he will upset this equilibrium and throw everything out of balance for the US for a long time, a longer time than the last depression...since War economics is no longer an acceptable partner to Keynesian economic solutions, and thats just the point, Greenspan is not thinking about the way the World is now, things have changed, except the way his generation thinks. This thinking, once accurate, is now flawed.
