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To: jrhana who wrote (988)	2/20/2004 3:21:24 PM
From: Andrew	Read Replies (2) \| Respond to of 60918

They are merely making it worse. Reccessions are a necessary part of the economic cycle. They give the economy a base from which to grow. Now we are entering a period of Stagflation We will have double digit interest rates by the end of the decade. They have F'd up big time IMO. To once again paraphrase the only thing Greenspan said in the last year that made sense, we are not having a robust recovery because we did not have a deep reccession. Where's the jobs? Oh yeah there's Walmart.

To: jrhana who wrote (988)	2/20/2004 4:13:21 PM
From: patron_anejo_por_favor	Respond to of 60918

<<They are doing exactly what Hoover and then Roosevelt should have done in the late twenties and thirties. The great depression could have been avoided.>> Depends who you believe. Keynesians think it's the right thing to do, Austrians think it's the wrong thing to do. Keynes' theories don't handle the concept of bubbles very coherently, so I side with the Austrians on this one.

To: jrhana who wrote (988)	2/20/2004 4:23:41 PM
From: Mike M2	Read Replies (1) \| Respond to of 60918

JR, see amazon.com Rothbards " Great Depression " for the austrian perspective. Rothbard seems to elaborate on Lionel Robbin's 1934 book " America's Great Depression" . In case you haven't guessed - I adhere to the austrian view. Mike

To: jrhana who wrote (988)	2/20/2004 4:46:43 PM
From: Yogizuna	Read Replies (1) \| Respond to of 60918

I agree Greenspan did the right thing keeping interest rates low, but think he lowered them a bit too much, hurting savers and retired people unnecessarily in the process.... Lowering rates to the point where money market funds have trouble paying out anything is absurd IMO.