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Re: [Pen-l] capitalist fools
- To: "Progressive Economics" <pen-l@xxxxxxxxxxxxxxxxxx>
- Subject: Re: [Pen-l] capitalist fools
- From: "Jim Devine" <jdevine03@xxxxxxxxx>
- Date: Thu, 11 Dec 2008 18:13:51 -0800
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Terry McDonough wrote:
> The criticism of Greenspan's monetary loosening is I suppose the flip side to this. But did Greenspan really have a choice? Without the interest rate declines stagnation would have set in much sooner.<
Arguably, Greenspan's allowing the two bubbles to occur delayed the
stagnation but allowed imbalances to accumulate in the economy, making
the crash at the end of his reign that much worse. and global too.
--
Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own
way and let people talk.) -- Karl, paraphrasing Dante.
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