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Ugh... too much commingling with the Bush administration issues to get a clear analysis on Greenspan.
One thought, though. If increasing unemployment coupled with increasing inflation is "stagflations," what do we call the opposite, the decreasing unemployment and decreasing inflation of the 90's?
In the end, I think Greenspan saw and warned of the bubble, as many of us did (dare I count the Dutch tulip comparrisons to Amazon.com?), but in the end decided "F* it, it's a good wave, lets catch it," as many of us did.
As for president Bush's exuberant Barbie-esque spending, what is Greenspan to do? He controls the Fed Rate, the pressure valve for private investment -- but has no control over GWB's excessive use of the Treasury checkbook to increase the deficet and the debt.
I do note that Repug's tout the fact that the "deficet" will decrease over the next 2 vyears as a victory, when in my mind, a decrease in the "rate we get more F*ed by continued rate of debt accumulation" is no victory at all -- merely less of a loss.
And, I note that someone reading this must at least understand the difference between the deficet (which is the rate of debt increase at any given moment, meeted out by fiscal quarters) vs. the national debt (which is the total amount of accumulated debt) to even grok what I'm talking about.
[ 06-08-2004, 03:46 AM: Message edited by: Timber Loftis ]
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