[lbo-talk] manipulation

[Carl Remick]

>From: Doug Henwood <dhenwood at panix.com>
>
>Seems churlish to dissent from someone who'd just cited my work  favorably, 
>but Michael Donnelly writes in Counterpunch <http:// 
>www.counterpunch.org/donnelly09222006.html>:
>
>>Continuing its usual election year pattern when Republicans control  the 
>>White House, the Federal Reserve Board hasn't raised interest  rates since 
>>the end of June, when the Fed set the rate at 5.25%.  (The rate was raised 
>>to 6.5% for 2000's stolen election. Quickly,  it was dropped to a mere 
>>1.75% for 2002 and 2004.) Now, after  raising the rate steadily since 
>>then, the increase was capped in  June. The Stock Market has responded and 
>>we'll be seeing all sorts  of blather about the Dow "reaching its all-time 
>>high"--11,722.98-- by November 7th. (The Dow is at 11,611.67 as I write 
>>this.)
>
>There's nothing unusual about the Fed's behavior. ... they're not  pimping 
>for the GOP.

Honestly, Doug, who cares?  If you can't say anything bad about the Fed, 
don't say anything at all :)

Carl