Greenspan hiked rates 1/4%. Anyone else irked?

UdoKier

(1000+ posts) Send PM | Profile | Ignore

Tue Aug-10-04 11:10 PM
Original message

Greenspan hiked rates 1/4%. Anyone else irked?

He claims that it's to rein in inflation, under the premise that the inflation is being caused by growth. It seems pretty clear to me that the inflation is being caused by prolonged soaring energy prices which are being added to every level of distribution, just like the 70s.

I realize that we need investment, too but this seems like a bad time to be hiking rates to me...

Printer Friendly | Permalink | | Top

David Dunham

(1000+ posts) Send PM | Profile | Ignore

Tue Aug-10-04 11:10 PM
Response to Original message

1. This will work to slow the economy further and help beat Bush.

Printer Friendly | Permalink | | Top

UdoKier

(1000+ posts) Send PM | Profile | Ignore

Tue Aug-10-04 11:13 PM
Response to Reply #1

3. Greenspan LOVES Bush. He thinks this is good for the economy.

But I agree that he's wrong.

Printer Friendly | Permalink | | Top

cindyw

(1000+ posts) Send PM | Profile | Ignore

Tue Aug-10-04 11:13 PM
Response to Original message

2. Can you say stagflation? nt

Printer Friendly | Permalink | | Top

UdoKier

(1000+ posts) Send PM | Profile | Ignore

Tue Aug-10-04 11:14 PM
Response to Reply #2

4. That's a beautiful photograph.

Edited on Tue Aug-10-04 11:14 PM by UdoKier

They truly are lovely ladies. (and gents)

Printer Friendly | Permalink | | Top

beyurslf

(1000+ posts) Send PM | Profile | Ignore

Tue Aug-10-04 11:18 PM
Response to Reply #2

7. I am afraid it could be here again

INterest rates will have to continue to rise if inflation continues... but with high enegery prices I don't see growth coming. 50 bucks a barrell for oil? This is not a good thing.

Printer Friendly | Permalink | | Top

theoceansnerves

(1000+ posts) Send PM | Profile | Ignore

Tue Aug-10-04 11:15 PM
Response to Original message

5. are we finally acknowledging there is inflation?

or are the ridiculous prices at the grocery store still just in my imagination?

Printer Friendly | Permalink | | Top

mountainvue

(1000+ posts) Send PM | Profile | Ignore

Tue Aug-10-04 11:18 PM
Response to Original message

6. Yes. I'm irked.

I realize that at some point, the rates must go up. However, it's a fallacy for Greenspan to say that the economy is getting better. He raised rates seven times when Clinton was up for reelection with no signs of inflation. He is so beholden to his friends now that he clearly panders to them and nothing else. He knew last couple of rounds the Bush tax cuts would be disastrous and he was right. Wwhat did he do about it? Nothing. He is not a young man any more and perhaps it is time for him to consider his retirement.

Printer Friendly | Permalink | | Top

DU AdBot (1000+ posts)

Fri May 03rd 2024, 06:50 AM
Response to Original message

Advertisements [?]

Top

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.