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 : Roger's 1997 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: John Nowicki who wrote (6873)	11/12/1997 12:44:00 AM
From: Shoe	Respond to of 9285

OFF-TOPIC: Of "stupidity," "politicians," and fast-track. The Fed is, of course, an unelected, even undemocratic fourth branch of government which is fairly well-insulated from political pressure. Moreover, it is pretty hard to second-guess the Fed's job of fine-tuning the U.S. economy for the past several years, particularly compared to, e.g., the German central bank. The Fed has come a long way from Volcker's disastrous monetarist experiment circa 1980, and seems to care about the real economy, not just price stability, just as the law says it should. For those who think that Fast Track means free trade, Professor Bhagwati's article in the October 18-24 Economist (p. 21) is recommended. Regional preferential trade agreements, with resulting trade diversion, are a far cry from the ideals of the WTO. No doubt many politicians oppose Fast Track for all the wrong reasons, but that does not mean true free traders need mourn its passing. -- Shoe