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To: Thomas M. who wrote (8520)	9/7/2001 8:29:54 PM
From: BWAC	Respond to of 17683

<And, the notion that the Federal Reserve should stand idly by while a speculative bubble economy develops is absurd. The Fed is supposed to dampen economic cycles, not increase their amplitude.> So how's that working out for the Fed lately? Apparently the Fed thinks its job is to combat some sort of "wealth effect" and ensure that a certain amount of people are in the unemployment line. Turning the markets into little more than a speculative momentum driven online casino. Meanwhile the government double speak is that as Shrub said today "Any American out of work is too many Americans out of work and that's why it's absolutely essential that we work together to put a growth plan in place to create jobs for hardworking Americans" and save, save, save, lets invest some social security money in the Greenspan Casino. <Wrong again. Price inflation has been rising around 3% for years now. > And thats bad? Certain amounts of inflation are normal. If you got right down to it, the 3% inflation is probably due to a 3% increase in government regulations, taxes, and other assorted government redtape foisted on corporations and employers to administer. You want to see some inflation? Just keep watching. Watch your cable/phone/broadband internet access costs continue to inflate. The competition there is dead. Watch as more of the emerging retailors in the deep discount and online area go under. You'll see some real inflation then. Watch as businesses stop competing to drive prices down and stop competing for the consumers dollar. You'll see some real inflation then that nobody can escape. 3% will be nothing.