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To: Ruffian who wrote (4320)	2/19/2000 7:51:00 PM
From: Jim Willie CB	Respond to of 35685

the central points uttered by the central banker are an embarrassment to an industrialized nation "productivity breeds inflation" represents a 180-degree switch from his long held claim that "only productivity can forestall inflation" I have maintained that economists are the most dangerous incompetent statisticians on earth... just look how personal beliefs, common myths, psychological barriers, and ignorance can dictate policy we have entered the most risky era I can imagine the last time the Fed attempted to engineer a needless soft landing, we got the Asian Meltdown... I say "ABOLISH THE FED"... it has become a useless human oversight of an equilibrium-based time-proven system this man just was granted Congressional Knighthood I have my doubts about 2-3 more rate hikes I used to doubt even one more rate hike they will raise and raise and raise, all arrogantly they will continue UNTIL they cause another world problem they will not stop BEFORE their erroneous assumptions are proven wrong my view: STATISTICS + ARROGANCE + POLITICS = ECONOMIC POLICY in my occasional cynical slant toward the world, I believe the aristocracy who run this country are bedeviled by distribution of wealth and an improvement in the standard of living for the masses... they seem to usher in a needless recession, just to ensure the masses stay down in their place, while offering sound economic policy as their excuse the Federal Reserve has caused all but one or two recessions since WW2 / Jim