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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (16315)	11/19/2004 11:28:08 AM
From: Square_Dealings	Respond to of 116555

Greenspan loaded the boat on the GLD ipo yesterday <g. Seriously, he and his buddies did for sure M

To: mishedlo who wrote (16315)	11/19/2004 11:46:01 AM
From: Jim McMannis	Read Replies (7) \| Respond to of 116555

Greenspan admitting he's out of control?

To: mishedlo who wrote (16315)	11/19/2004 6:26:56 PM
From: Elroy Jetson	Respond to of 116555

Greenspan concerned with weak dollar NEW YORK (CNN/Money) - Federal Reserve Chairman Alan Greenspan warned the U.S. must deal with the causes of the weak dollar -- the U.S. trade deficit and the federal budget deficit -- or the country could run into economic problems down the line. This is an especially rich comment coming from a central banker who sees his role as "merely providing as much credit as the market demands" -- -- as if providing infinite credit out of thin air were a normal function for a "market economy". Simply eliminate the possibility of infinite credit, and problems like the federal budget deficit, trade deficit, and real estate bubble, become immediate problems which are self-correcting. This is why famous split-personality and pathological liar Milton Friedman strongly suggests that central banks be replaced with a computer which increases the money supply at 2% annually. Although he has no explanation at to why the money supply needs to be increased annually in the first place. Milton Friedman strongly rebukes economists like Milton Friedman who have spent their career creating Central Banks in nations around the world. The first Central Bank he created was in Chile. He staffed it with his Grad Students and installed himself as Chairman of the Central Bank. He first reduced the money supply at a 50% annual rate until the money supply was 38% less, followed by a wild expansion and contraction of the money supply ranging from a minus 10% to a positive 30%. As Milton Friedman commented, "This just goes to show that Milton Friedman is an out-of-control egomaniac who knows nothing about economics." Friedman continued, "He has such a high opinion of himself, he thinks only he should be permitted to act as Money Fuhrer." One of the advantages of being a split-personality is that it increases the chances that one of your conflicting opinions will be proven correct. home.pacbell.net .