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To: Art Bechhoefer who wrote (10501)5/21/2000 12:01:00 AM
From: Jim Willie CB  Respond to of 13582
 
Art, excellent points on diminished purchasing power

I found extreme irony in Greenspan's promotional comments on the China trade bill, where he spoke about undermining central planning power in China and increasing individual power

meanwhile, in the United States, the Federal Reserve has become a central planning unelected agency for monetary policy... with huge unchecked powers to influence the economy

they have exceeded their chartered powers by a long shot... I would like to see the Federal Reserve Board impeached... let them explain their targeting of the equity markets... let them defend their unfounded shoddy constructs such as the Phillips Curve... let them provide a layout of their untenable forecasting methods

if some here dont appreciate non-engineering, non-standard discussion, try to expand your intelligence base
/ Jim Willie