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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: paul_philp who wrote (4460)	8/13/2002 5:03:02 PM
From: Jim Willie CB	Read Replies (3) \| Respond to of 89467

the Fed was at the controls on both ends it fed the credit excesses, all the while fighting the ghost of inflation from 1990 to 1999 inflation did not really exist thru the 1990's, except in excessive extension of credit the Fed tightened too far and too late in 1999-2001 then it waited to long to ease now it is fighting deflation it created the Fed does not hold the answer or the cure it is the problem all the easy credit surely built the systems you discuss but we must deal with the financial nightmare now I doubt more than 5% of the American population realizes that we are working our way thru the MODERN DAY VERSION OF THE 1930 GREAT DEPRESSION / jim