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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: valueminded who wrote (59535)	5/17/1999 1:31:00 PM
From: Mike M2	Respond to of 132070

Chris, it seems that the Fed is run for the benefit of bankers and politicians but in the long run we will all suffer. You cannot create the conditions for economic violence and financial tough love and expect the public to take it quietly. I gave up hope long ago that AG would do anything substantial to prick the bubble. I also expect more rate cuts when the market tanks at that point perhaps the dollar will come under pressure. AG should be well aware of the consequences of his recklessness as his comments from 30 years ago indicate when he criticized the Fed of the 20's for creating a bubble. While it is true that many events and factors beyond the Feds control have contributed to this bubble IMO he has outdone the Fed of the 20s on a grand scale. Don't get started on the media - they played a big role in the election of Bill Clinton. I have very little respect for the media they have done a great disservice to the public but the consequences are still in the future but our course is irreversible and the bubble will burst. The public will be in it for the long term but it won't be what they were told to expect. I don't know where earlie is but i would guess he is busy and do expect he will return soon. mike