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[PEN-L:28275] It's Greedspan's Fault?



What is hinted at here but not stated is that the Democratic/labor left
traditionally pushes for lower interest rates in the interest of stimulating
economic activity but fails to take responsibility for the dynamics of a
speculative era in capitalism in which lower interest rates only stoke the
fires of fictitious capital buildup.

Stephen F. Diamond
School of Law
Santa Clara University
sdiamond@xxxxxxx




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