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

To: Knighty Tin who wrote (30322)	5/18/2005 1:30:29 PM
From: PAST	Read Replies (1) \| Respond to of 116555

"His conclusions do not take into account the massive devaluation of the BushBuck still ahead of us." Ah yes, but the question is just how far ahead of us is that "massive devaluation" and can it be delayed yet further? Suppose for a minute that Greenspan might NOT want to leave office with the Dollar in ruins. Suppose he knows that if he were to leave with the Dollar in that status, then forever more, he would be considered to have done a lesser job than Paul Volker who did regain controll- no way!! So what does he do? Perhaps, he first staves off depression by devaluing (printing) Dollars, then when the Dollar is about to collapse, he turns it around and "out-Volkers" Mr. Volker by slowly raising rates, while balancing all outside forces, in order to leave office with the Dollar at a reasonable value, with stable CPI, and a steady economy. He would then have controlled destiny in both ups and downs. It will become the "Camelot Years of Greenspan" and with just as much smoke and mirrors to bring it about, but that's another story.