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To: pater tenebrarum who wrote (66417)10/5/1999 11:26:00 AM
From: Mike M2  Read Replies (3) | Respond to of 86076
 
Heinz, inflation in the financial markets is dangerous because it leads to tough love and economic violence which all mythsters live in fear of. ho ho ho Mike



To: pater tenebrarum who wrote (66417)10/5/1999 8:20:00 PM
From: BGR  Read Replies (2) | Respond to of 86076
 
Heinz,

I completely agree that there has been serious asset price inflation. But, I reiterate, the Fed is not required to do anything about that. Period. Its yardstick is consumer price inflation, not by choice but by charter. If people feel that the charter is incorrect, they should work towards changing that.

-BGR.