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Re: Current (heterodox) thinking on interestrates?


>>> Jim Devine <jdevine@xxxxxxxxxxxxxxx> 04/05/00 11:45PM >>>

 In the cycle, interest rates are pro-cyclical, with the interest
rate soaring to the stars in a financial crisis, and then falling as the
demand for loans falls in a recession.

((((((((((((((((((

CB: Would this mean bankers have a tendency to favor recession ? Would this be a motive for Greenspan, as the bankers' agent, to provoke recession, all the while increasing bank profits on the way there in the interest rate hikes themselves ?

CB
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