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To: Steve Dietrich who wrote (42487)3/28/2001 4:01:25 PM
From: chic_hearne  Read Replies (3) | Respond to of 64865
 
Are you saying the fed ought to be raising interest rates now? What's the point of this point?

It's called tough love.

Jack the rates up to like 10% and kill the stock market and economy. IMMEDIATELY the excesses of the economy will be wiped out and a fast recovery can begin to take place within a few years.

The alternative is a Depression lasting for many years. Because by keeping rates low and hope alive, many of the excesses will take what seems like forever to be taken care of.

I think we do the latter due to poor policy of lowering rates and the fact that no one in Washington would take the tough love approach.

JMHO

chic



To: Steve Dietrich who wrote (42487)3/28/2001 7:06:43 PM
From: Peter O'Brien  Read Replies (1) | Respond to of 64865
 
>It seems that a progressive redistributive tax may actually be good for
>the long term financial well being of our country

"From each, according to his ability; to each, according to his need"
-Karl Marx 1875

Now there's a plan that's really stood the test of time!
It should do wonders for our economy!


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