Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (28678)	1/28/2008 6:56:24 PM
From: Elroy Jetson	Respond to of 219476

I think what you meant to say was that Arthur Burns and G. William Miller, Fed Chairmen prior to Volker, were master inflators. Arthur Burns papered over the decline in wealth created by the war in Viet Nam. When oil prices rose, personal income declined and G. William Miller continued to paper over the decline in incomes. But to be fair, he inherited the problems created by Bubbles Burns. Paul Volker fixed this problem at the inevitable cost of a horrible recession, long overdue. After 19 years of Bubbles Greenspan we are once again long overdue for a very bad recession. No doubt it will be postponed until Bernanke, the new G. William Miller, sends consumer inflation rates skyrocketing. Miller set a nice precedent by remaining Fed chair for less than two years. .