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

To: combjelly who wrote (129791)	12/16/2000 1:25:38 PM
From: Joe NYC	Read Replies (1) \| Respond to of 1571405

cj, This is more understandable than the short version of the above. Umm, what is unconventional? Let's see: Volcker resigned for a reason.... That's just speculation. Even with the minimal understanding we have of economics, it was easy to predict the recession of '90-92 At the time Volker resigned? Did he in fact resign or just was not re-appointed - I am not sure now, but I think Reagan just didn't re-appoint him. If Volker predicted the effects of: - 1986 tax reform would have on real estate - collapse - real estate / S&L regulations on banking - collapse - and banking problems on banking regulations - increase - increased banking regulations on credit availability - collapse - business operating with constrained availability of credit - economic downturn - higher energy prices, Persian Gulf war on economic downturn - made it worse If he indeed was able to predict all those things in 1986-87, I think we would be reading about Paul Volker, not Nostrodamus. Not that Volcker understood enough to avoid the "economic downturn" of '90-92, but to do things that basically guaranteed it would happen was, well, stupid. If you understood all those things that Volker did not, why didn't you just give him a call or mailed him your theory. He is a very reasonable man, and I think he would have listened. Joe