> “ Federal Reserve had begun raising short-term interest rates in 1999 to beat back the roaring economy.”
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I read that far, and had to stop.
There was no “roaring economy” in 1999. We had entered a long, grinding recession at the end of ‘97, and the only thing holding the economy up in ‘99 was Y2K activity.
The dollar is, as it has been for a long time, being deliberately driven down by the Fed’s printing presses. Presently they are trying to print Obama’s debt out of existence through inflation.
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RE: There was no “roaring economy” in 1999.
I bet you also believe that the budget surplus at the end of last century was an illusion....
If so, I’d like to read your reasons.