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To: groanup
how tight should they be?

I merely asked about your tag line. We are all for victory. I was just wondering whether you know what Victory would look like in Iraq if we were to achieve it. The total capitulation of Sadam Hussein and the destruction of his army occurred long long ago and we don't right now seem to be a lot better off for it.

I think the FED now and forever should keep the expansion of the broad supply of money to the rate of GDP growth, GDP fairly measured with "reasonable" corrections for inflation, but not unreasonable ones [e.g. when you get a pacemaker to keep you alive, that is GDP growth. When we double the cost and make it in multiple colors, we should simple count the cost as doubled without attempting an hedonic correction for the fact that you can now enjoy parti-colored pacemakers].

I also think that the FED should get real tight when bubbles start to appear, and bubbles are a whole lot easier to spot than Greenspan claims. The dotcom bubble was a bubble, pure and simple, and anyone anywhere near the state of california at the time knew it was a bubble. The real estate bubble was a bubble and he went out of his way to help inflate it with deliberate malice of forethought).

281 posted on 05/04/2008 6:04:00 AM PDT by AndyJackson
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To: AndyJackson
I think the FED now and forever should keep the expansion of the broad supply of money to the rate of GDP growth, GDP fairly measured with "reasonable" corrections for inflation, but not unreasonable ones

Well that's just what it has done. You can't define "reasonable" any more than you can turn lead into gold.

I also think that the FED should get real tight when bubbles start to appear

It did. Now you have to define "start to appear". Try to hit that moving target.

282 posted on 05/04/2008 7:02:06 AM PDT by groanup (War is not the answer. Victory is.)
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