Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Condor who wrote (56165)	11/19/2004 12:29:36 PM
From: Seeker of Truth	Respond to of 74559

About two years ago, as Bush was making noises about the dangers of Iraq to the US, Greenspan said a war with Iraq, (which was much talked about at the time) would not impose an undue burden on the US economy. In this world it seems like fools are overpaid and the work of experts is free.

To: Condor who wrote (56165)	11/19/2004 6:47:45 PM
From: Elroy Jetson	Respond to of 74559

Interesting remarks by Greenspan this morning. Essentially he repudiated all his pre-election soothsaying and almost sounded like Jay. * * * * * * * * * * * * * * * Greenspan's concerned "central bankerish" comments are 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". 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 well-known 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, at the request of the new military dictatorship. 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 .