🚀 go-pugleaf

On Fri, 24 Aug 2001 21:03:35 GMT, Me <srhi@home.com> opined:

>Alan Greenspan has not ruined our economy. Greedy investors looking for a
>quick buck and greedy companies looking to satisfy investors are what's
>causing the problem. Besides, ups and downs in the economy are quite normal.

No, that's what started it all.  Business investment was through the
roof (because of the stock market), causing the economy to overheat.
Inflation was a very real danger (if inflation was really, really bad,
like Brazil currently is, prices at the end of the day would be a lot
higher than at the beginning of the day).  To fight against inflation,
Greenspan burst the "tech bubble" by raising interest rates, only he
over corrected, and was too slow to start lowering rates again,
resulting in a recession that really shouldn't have occured.

Larynx

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