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Old 08-03-2002, 08:45 PM
Posts: n/a
Default Re: You always go too far

You just showed your lack of intelligence there. You think a fresh rate cut is going to help the economy out in the next 5 months? There you really show your lack of understanding of central bank theory. I don't care what people characterize Greenspan as. He isn't a hero, he just is a very intelligent man. He could have made mistakes, that is certainly part of the job. My point is that you must be some kind of ego to say he is lying or clueless and you have it all figured out. That is ridiculous. I know there are many like you, but its thinking like that which leads to messy bubbles and then their bursting. Greenspan spoke what he thought was the best information to his knowledge. Greenspan has NEVER been a man that would intentionally talk up anything whatsoever. Where is your proof of such a charge??? Every time he "talked" something up in the eyes of the media was because completely lost pundits have gotten the whole situation messed up. There is no signs of recession right now, there is no sky failing at this time, there is no way people should be fretting about economic collapse, but since the media loves to sell that story right now its on the minds of everyone. Take a step back and you will see that things are pretty much neutral. Big growth isn't in the next six months, but neither is a recession. Even if there was one to come, there is no way that it could be "decided" right now by anything Greenspan does or says. The Fed controls the economy in very deliberate ways that take up to years to reach their effect. The Fed can get Wall Street all worked up, but Wall Street is not the economy as a whole and never has been.
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