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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (40894)	12/16/2000 11:30:23 AM
From: Gottfried	Respond to of 70976

Brian, it's probably because of something that happened in his childhood? G. [end]

To: Proud_Infidel who wrote (40894)	12/16/2000 1:26:09 PM
From: Alan Gallaspy	Respond to of 70976

Brian, I feel that keeping inflation under control is a commendable goal, but it is invariably bitter medicine. You do not remember Paul Volker, AG's predecessor. He was one of the most despised bureaucrats of all time because of his adamant refusal to lower interest rates. Nonetheless, that policy ultimately broke the back of stagflation and set the stage for the many years of prosperity (and low inflation) that we have been enjoying. Sure, huge gains in productivity have worked their magic, but like Greenspan, do not ever forget that inflation is an insidious evil that drains away wealth. No one wants a repeat of the economy of the '70s and '80s. It sucked. Prices rising a hell of a lot faster than salaries, first time home buyers had to promise their soul and first born child to get a POS starter house. And then if you should have to sell just when the local real estate market went tits up, too bad because then you owed more than the damn thing could be sold for. Me, I think AG is doing a great job and I hope GW can find a worthy successor. Only $200k/year though, hardly any self-respecting Republican would settle for that.