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To: Robin Plunder who wrote (116062)	3/27/2002 12:59:21 PM
From: Jim Willie CB	Read Replies (2) \| Respond to of 152472

switching trust from AG to "ag" (Greenspasm to Silver) Greenspan suffers from basic economic heresy you cannot manage an economy at all the Federal Reserve is a slap in the face of capitalism and free market equilibrium Greensperm believes he can manage an economy (better yet, the world economy) by means of interest rates and money supply but flooding money does not direct that money into proper resource allocation instead, it chases the hotspot, e.g. stock market soon, it will chase gold & silver he has altered the business cycle in a huge way now we are subjected to structural cycles and business cycles his policy rules have led to structural problems from excess liquidity inappropriately invested e.g. telecom, networking, mansion houses, stock options GreenMan has twisted the definitions of inflation inflation comes from Money Supply excesses which plant the seeds for inevitable price inflation he has twisted the definition of inflation in another way LIQUIDITY (a good thing in his view) is really INFLATION (bad thing really) we love newly infused liquidity, but hate the rise in cost of living the guy is a master of jibberish, economic heresy, and orwellian doubletalk AG believes fast growth causes price inflation wrong fast money growth causes price inflation AG has subverted the definition of inflation it is and always be "excessive increase in money supply thru debt issuance or otherwise" most people cannot properly define "inflation" AG believes low unemployment causes price inflation wrong money supply excess causes inflation fast growth leads to increased supply AG and Rubin together forged a disastrous path flood the world with the new "worldwide standard store of value" i.e. USDollar with the goony Euro, the Dollar took center stage with the death of Soviet Union, the Dollar reigned supreme no, GreenSpasm is a heretic Keynesian they believe in "TAX, SPEND, INFLATE" it is a disastrous scenario that fails in time our household debt levels have risen steadily over the years because of rising SocSec tax (not deductible), Medicaire tax (not deductible), creeping higher tax brackets (reached from wage inflation), yet many fall behind in the 1970-1980's most households became two wage earners now they need a third, and none can be found the dream of a Great Society returning after the Fall of Communism is NOT going to happen it will be replaced by constant WAR, just like Orwell predicted he got the year wrong Impeach GreenSheiss he has done nothing but build bombs / jim