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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: CalculatedRisk who wrote (35852)	7/12/2005 4:24:46 PM
From: Elroy Jetson	Read Replies (2) \| Respond to of 110194

Personally, I would prefer Snow or Feldstein over Bernanke -- because both would be so obviously incompetent that they would be quickly replaced. Like Greenspan, Bernanke is smart enough and unprincipled enough to cause real damage over a long period of time. . This follows the reasoning of Joseph Schumpeter: "Policy does not allow a choice between depression and no depression, but between depression now and a worse depression later." The incompetent could not keep postponing the recession. Better to have the recession now. .