DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - The Greater Than Great Depression Depression?

**Bbjhjxfy** · 02-07-2006, 10:36 PM

What delusional world are you living in? You can say alot of things about Greenspan, but that he "inflated" is the furthest from any. His record on containing inflation is unasailalbe. Where I fault him is for being overly cautious on inflation to the extent that he tended to consistently understimate the inflation retardant effects of consistent productivity gains over the last 25 years (largely unleashed by the Reagan taxcuts) which resulted in his raising interest rates too much in the early and late 1990s

Only if you reach such a determination strictly on the basis of rate adjustments. Factor in growth in the money supply and you get a much different picture, one that shows the Fed under Greenspan to indeed be an engine of inflation.

02-07-2006, 10:36 PM	#9
Bbjhjxfy Join Date Oct 2005 Posts 398 Senior Member	What delusional world are you living in? You can say alot of things about Greenspan, but that he "inflated" is the furthest from any. His record on containing inflation is unasailalbe. Where I fault him is for being overly cautious on inflation to the extent that he tended to consistently understimate the inflation retardant effects of consistent productivity gains over the last 25 years (largely unleashed by the Reagan taxcuts) which resulted in his raising interest rates too much in the early and late 1990s Only if you reach such a determination strictly on the basis of rate adjustments. Factor in growth in the money supply and you get a much different picture, one that shows the Fed under Greenspan to indeed be an engine of inflation.
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