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

To: mishedlo who wrote (43681)	10/18/2005 10:39:24 AM
From: Perspective	Respond to of 110194

Your views on choice of Fed chairman seem incongruous with your views on deflation in the discussion with Claude: Message 21795124 If the President (or at least his advisors) understands that the Fed will always act in its own self-interest, then wouldn't the rational choice for the President be the most dovish Fed chair he could possibly find? I agree that hyperinflation probably won't happen here because of the risk to the existing power brokers, but it seems like the President would want the candidate that is willing to permit the biggest giveaways to the government and populace. That would be the rational choice given your logic. I must say I agree with your position, too. Although Claude has a good point questioning how omnipotent these guys think they are. If they believe they can secure more for themselves with an inflationary episode here, they might just risk it. Was it Jefferson that observed that central bankers will shift the price level back and forth, in inflation and deflation both, because they gain on movement in the price level either direction? BC