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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: J. P. who wrote (38429)	4/11/2001 11:47:15 AM
From: Crystal ball	Respond to of 50167

OLD GREENSPAN FEARED MEDICAL INFLATION that was all, his false fears is the only information he had that threw him and his old cronies into such a false panic, and the markets along with them. To paraphrase the recent Charles Schwab commercial, lets all just take a deep breath and relax....there NEVER WAS AN INFLATION THREAT, and so the economy will recover quickly. Greenspan's rate hikes caused OPEC to keep the price of OIL higher, all the way to $37 and even now it is still above the proper $20-$25 range. The radicals there want their OIL CURRENCY to stay high, above $30, but this will not happen. Even Saudi Arabia understands that they need to invest in our markets, and they will bring the OIL CURRENCY DOWN as the federal reserve is forced to bring down rates, thereby bringing he DOLLAR CURRENCY DOWN to it prior healthy economic rates of 3 to 3.5%. The TAX CUTS will move FISCAL POLICY to the forefront, and maybe we need to revisit the independence and unaccountability of the federal reserve and its MONETARY POLICY that is unaccountable to everyone, the Congrees needs to request the Congressional General Accounting Office to do a full and complete GAO AUDIT OF THE FED, and not just the federal reserve, but each Fed governor, like Greenspan. Then we need to make our central bank a true central bank by putting it under the US Treasury Department Secretary so that it is RESPONSIVE AND ACCOUNTABLE to our political ELECTED LEADERS. I am, Truly your$, -Crystal Ball