Greenspan

Rakesh Bhandari bhandari at Princeton.EDU
Sun Mar 19 06:59:22 PST 2000



>>>>>>>>>>>>
>
>[mbs] This is the Fed line. Problem for defenders of such a line
>is, there is no evidence of inflation, not even the moderate
>kind. Primitive keynesianism explains this pretty well --
>there is still slack in the economy. People who have been
>officially written out of the labor market and put in some
>malign cultural bag . . . turns out these people are willing
>to work.
>
>>>>>>>>>>>>>

So you agree that Greenspan is presently not concerned and has no real reason to be concerned about wage led inflation? We are agreed that Greenspan's main concern is the inflationary creation of demand ex nihilo? You think here too there is no reason for concern. Perhaps. I say that such an aggressively pre-emptive measure is necessary given the overwhelming danger that a flight from the dollar, occassioned by just a whiff of inflation, could have on the US and world economy.

Tell me exactly what you want to wager over. We can work ou the size of the bet, the odds, and a repayment schedule

Yours, Rakesh



More information about the lbo-talk mailing list