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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: lh56 who wrote (5256)	12/13/2001 3:37:09 AM
From: nspolar	Read Replies (1) \| Respond to of 36161

I've wondered about the same thing .. more or less where will the US be at the end of all this relative to its counterparts. We have Greenspan and Germany has Teitimeyer (sp?)!

To: lh56 who wrote (5256)	12/13/2001 12:58:39 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 36161

Larry, i am much fonder of the ECB than the Fed. contrary to the Fed, the ECB DOES care about money supply growth, and more importantly, its mandate is much narrower. the ECB has only ONE mandate in fact, namely the protection of the internal and external value of the currency. it does not worry about unemployment, economic growth, or other things a central bank can actually do nothing about. the Fed in the meantime HAS to worry about these things per its statutes, and that practically ensures a faulty long term policy. BOTH central banks make however the cardinal mistake to focus on consumer price gauges as their main policy benchmark. this focus is what has brought about the huge credit and asset bubbles in the US as the Fed left rates artificially too low during the boom. now we're all going to pay and pay and pay for it.