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To: ild who wrote (218592)2/4/2003 10:40:50 AM
From: yard_man  Respond to of 436258
 
that's a real big HO HO HO --

>>An important and interesting implication is that, under a properly designed and implemented monetary policy regime, the key social objectives of price stability and maximum employment tend to be mutually reinforcing rather than competing goals.
<<

Masters of the business cycle, eh? I think he believes in widely separating "what they do" and "what they say" -- surely he doesn't believe the BS he spouts??!!

Send 'em all to Afghanistan or Iraq ...



To: ild who wrote (218592)2/4/2003 11:44:12 AM
From: patron_anejo_por_favor  Respond to of 436258
 
<<"Constrained Discretion" and Monetary Policy>>

ROTFL! As opposed to limitless punchbowl spiking and glue bong huffing!

I believe there's a song for every occassion. In this case, this one goes out to Ben Bernanke....remember Ben, the life you save might be yer own. Don't drink and drive (monetary policy)!<G>


I can't remember why I like this feeling
When it only seems to let me down
Soon I find I'm searching for the exit from the ground
If I think the room is turning faster
Then I think the music is too loud
By then I've lived another broken story to let me down

When those doors swing open and Monetary Base is passed around
When half the party moves into the bathroom...hold me down
Or if you're at the tail end of the evening
And Dr. Feelgood comes around
Anytime the pickins look too easy...hold me down
Down if I want that part
Down if I've gone too far

Well I guess I must have just been reeling
When I felt the 'Dung begin to fall
I realize I'm bounding down the hallways and off the walls
If depression's standing in the corner
I could just fall into it right now
And know that I'd just be staring at the debt ceiling going round

When those doors swing open and Monetary base is passed around
Anytime the pickins look too easy...hold me down


(Adapted from "Hold Me Down", words and music by Doug Hopkins and Robin Wilson).