If inflation is 3% G-span would like it to be 2%. He is concerned in this respect, at minimum. Whether he has 'real reason' to be concerned depends on whether you think 'real' refers to whatever he wants, or to what he ought to be concerned with from the standpoint of the general welfare. In the latter regard, his concern is perverse, IMO.
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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.
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According to you, we've had a whiff.
Where's the rumpus?
mbs