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To: ecrire who wrote (107127)	1/23/2010 9:53:53 AM
From: yoremopnhoj	8 Recommendations Respond to of 116555

"As for Volcker: do you remember what happened to the economy under his tenure? That's all we need!" I remember and it was tough as hell and as a result of having lived in that time period(just starting a family) I have always lived below my means. Volcker did not create the mess, he inherited it from a previous Fed that over printed. He ignored the cries from Wall Street and the politicians because he recognized after a period of loose money and credit there is no easy way out and to kick the can down the road is only going to create a bigger mess. Today's economy in my opinion is much worse for the lower 80 percent of the population than anything we saw in the late 70's when everyone shared the misery.

To: ecrire who wrote (107127)	1/23/2010 10:18:09 AM
From: Crimson Ghost	3 Recommendations Read Replies (1) \| Respond to of 116555

Volker's "tough love" set the stage for many years of prosperity. No gain without pain.

To: ecrire who wrote (107127)	1/23/2010 12:15:38 PM
From: Hawkmoon	Read Replies (1) \| Respond to of 116555

As for Volcker: do you remember what happened to the economy under his tenure? That's all we need! Volcker was dealing with inflation then. Does anyone believe we're actually experiencing inflation now? Hawk

To: ecrire who wrote (107127)	1/23/2010 12:19:06 PM
From: Unalakleet	5 Recommendations Read Replies (2) \| Respond to of 116555

I remember when Volcker raised rates to 20%. He had more secret service around him than the President. There were protests, big ones, outside the fed res building. But it was the best thing for the country. The old guy has balls, I'll tell you what.

To: ecrire who wrote (107127)	1/23/2010 2:00:46 PM
From: Sweet Ol	Respond to of 116555

I started my business in 1980 with borrowed money at 18-21% under Volker. The business was successful and I paid off the loans ASAP. Good business conditions are better than low rates for all businesses except the financial industry. High rates tend to make you leery of debt and that is good. Blessings, JRH

To: ecrire who wrote (107127)	1/23/2010 3:23:14 PM
From: mishedlo	12 Recommendations Read Replies (2) \| Respond to of 116555

Low interest rates do not benefit anyone but those at the very top of the economic chain. Interest rates set by the free market would benefit everyone. Low interest rates fueled the bubble. You are only nuts if you think the middle class benefited from that. Mish