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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Scumbria who wrote (112506)	5/24/2000 7:28:00 PM
From: TGPTNDR	Respond to of 1570744

Scumbria, Thanks for the post on bartlett's message. I agree with the vast majority of it. I somewhat disagree with <For one thing, I think the Fed is more sophisticated now and when they make mistakes, they recognize them more quickly and reverse them. I'm not worried about the Fed creating another Great Depression. But I am worried about them creating an unnecessary recession when they're concerned about problems that really don't exist.> In that as the Fed. screws in the rate increases to unnecessarily fight inflation I think it damages productivity and the progress of man. tgptndr

To: Scumbria who wrote (112506)	5/24/2000 7:46:00 PM
From: tejek	Read Replies (2) \| Respond to of 1570744

Bartlett: I don't deny they deserve a great deal of credit. But you have to realize that the good work that Volcker and Greenspan did was to really compensate for the bad work their predecessors did. In the '70s, they simply had too much money chasing too few goods. Volcker and Greenspan did a great deal to restore the credibility of the Fed as an inflation fighter and they do deserve a lot of credit because inflation is insidious. It's very, very bad for the economy. (But) there's a time when you should declare victory and not keep fighting the inflation of the '70s. I know we disagree on this issue but those two paragraphs say it all for me. In the last 10 years I think Greenspan (and the feds) have kept a steady hand when it comes to keeping the economy on track. I think there is sufficient evidence of that. I do not think it is an easy task nor do I think there is a tried and true formula....you have to wing it sometimes. I expect that if there is sufficient evidence that the economy is slowing down, the feds will stop with the increases. Just for the record, the feds did not say they would increase rates in June as so many expect....that's the media's interpretation. ted