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Pastimes : Alan Greenspan MUST GO: -- Ignore unavailable to you. Want to Upgrade?

To: Mama Bear who wrote (52)	5/24/2000 11:47:00 PM
From: Master (Hijacked)	Read Replies (1) \| Respond to of 494

Barb, There was a problem in '98 which required his intervention. And if you recall, his intervention was mostly symbolic as it inspired confidence in the economy. Today instead, I do not see a problem. Therefore, I don't see the need for him to intervene. INFLATION, INFLATION....Where, Where???

To: Mama Bear who wrote (52)	5/24/2000 11:47:00 PM
From: BWAC	Respond to of 494

<Vince, so Mr. Greenspan should have left the market to its own devices in October of 1998, right? You can't have your cake and eat it too.> Not an apples to apples comparison. Those moves were necessary to stabilize the world economy from threats that actually existed, or better had occurred. If it was done to bail out Long Term Capital it was equally wrong. Somehow I think you are twisting the point some. This inflation fight is chasing some ghost. It does not exist for the informed value seeking consumer. It cannot exist for the informed value seeking consumer when you have the extreme retail competition that exists in the US today. Low prices are demanded and the succesful companies will serve this demand. The fear mongers of a Fed rate at 8% are out of line. Those expecting a 4% rate are out of line. Certainly there is a safe midpoint. One that does no harm to consumers, investors, and most importantly the portion of the US population that can ill afford to pay higher rates for the normal everyday living requirements involving loans.