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

To: TimF who wrote (114811)	6/7/2000 12:46:00 PM
From: Tenchusatsu	Read Replies (1) \| Respond to of 1571996

twfowler, from Fleckenstein: It's as though they think that communism -- i.e., central planning by a central agency (a bank, in this case) -- actually works, as long as you call it capitalism. Very curious statement here. So any sort of "central planning by a central agency" should be called a communism, according to Fleck. Therefore, the American government should opt out of ANY sort of regulation. After all, regulation smacks of communism, which is bad, bad, bad. I'm not defending Alan Greenspan or the Fed here. I'm just trying to find the logic behind Fleck's argument here (if there really is any to find, at least). Tenchusatsu

To: TimF who wrote (114811)	6/7/2000 1:09:00 PM
From: tejek	Respond to of 1571996

What that implies -- which they won't say -- is that they think the Fed has basically conquered the business cycle: Things get too hot, the Fed slows it down, things get too cold, the Fed warms it up. It's as though they think that communism --i.e., central planning by a central agency (a bank, in this case) -- actually works, as long as you call it capitalism. Tim, What's the alternative provided by Fleck? ted