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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: michael97123 who wrote (159562)	3/24/2005 9:45:41 AM
From: Keith Feral	Read Replies (1) \| Respond to of 281500

He needs to find some stability. I could care less if foreigners started dumping Treasures. That would lead to the natural steepening of the yield curve that some people desire. With the elimination of the 30 year bond, there is so much demand for short term debt domestically and abroad that I have very little worry. If you want to really exapnd demand for the Treasury market in the domestic makret, revise Social Security so that we start buying US Treasuries. If Greenspan is such a genius, why was he decreasing interest rates la5 most year and increasing them this year. Yes, he helped keep the liequidity in this country post 911, but it didn't take a genius to figure out the only was to do that was back off of 6% Fed funds rates back in 2000. Everyone knew his decision to ease Fed fund rates to 1% would be reversed. I had hoped he would show some long term vision and leave the rates where they should be and adjust the margin requirements and reserve ratios for borrowing requirments. Greenspan needs to stop micromanaging the games that the insitutional money where people borrow at 1% and leverage their money at the long end of the yield curve.