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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: bentway who wrote (367164)	1/16/2008 8:38:47 PM
From: combjelly	Respond to of 1575617

"The change in policy contributed to the significant recession the U.S. economy experienced in the early 1980s, which included the highest unemployment levels since the Great Depression." Fun times. Graduated from college into that. And, frankly, to get out of this hole will require even stronger medicine.

To: bentway who wrote (367164)	1/17/2008 12:11:58 AM
From: tejek	Read Replies (3) \| Respond to of 1575617

Ted, the sooner you realize that perpetual party bull markets are NOT a normal economy, the the rules have NOT changed, the better off you'll be. Greenspan had the tech bubble, and the RE bubble one right after the other on his watch. The first might be excused, but the second was CREATED by "Easy Al" setting interest rates to their lowest point in fifty years. Low interest rates don't create bubbles....and Greenspan didn't create low interest rates from magic.....they were possible because inflation was low. Until you can show me that low interest rates forced people to buy houses against their wishes, then I see blaming Greenspan for human greed and dishonesty as unfair. If you want to know what Bernanke needs to do to set things right, study what Volker did after Nixon. I doubt he has the character or stones to do it, and it's NOT cut interest rates - it's just the opposite. Explain to me why that's the way to go.