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To: Charles Hughes who wrote (20074)	6/17/1998 4:17:00 AM
From: Daniel Schuh	Respond to of 24154

Now Chaz, I'm supposed to be the resident commie. On the general reverence for Greenspan, I'd merely note that the Fed's course on anti-inflation monetary policy for the last 20 years was originated by Paul Volker, not Alan Greenspan. Volker was a Carter appointee, and he's the one who really cranked up rates when he felt it was necessary. The Reaganauts didn't like him any better than the other side, which is why he only served one term. The Reaganauts somewhat oddly always claim credit for beating inflation themselves, with the counterintuitive formula of "supply side economics" and huge budget deficits. Volker took the heat, but people have short memories in that context too. Volker also wasn't widely known as a libertarian Rand follower. Cheers, Dan.