Greenspan Balloons the Trade Deficit.....
...even when the Inflation "Boogyman" is absent.
What would he do if there was really a threat of Inflation?
FROM THE CHRISTIAN SCIENCE MONITOR-MAY 18, 2000
"So far, politicians have tried to remain neutral about the six Fed rate hikes this year. On Tuesday, President Clinton said he did not think the hikes would hurt Mr. Gore and added, "I am going to let them make whatever decision Chairman Greenspan and the others think is warranted."
What could he do about it anyway? '..I'm going to let them...' who is he kidding? He works for the same bosses --THE BANKSTERS.
"Although Texas Gov. George W. Bush had no immediate comment on the rate hikes, a spokesman, Ari Fleischer, says a slowing economy 'reaffirms the importance of the tax cut [a Bush proposal] as an insurance policy.' "
Just what we need -- more "higher-cost" money in the Economy. How ignorant can you get ???
More Money in the Economy causes more INFLATION, which they are supposed to stop with their rate increases--higher money costs.
"Mr. Fleischer notes that any tax cut would not go into effect until the fall of 2001 or early 2002.
Most economists expect the Fed to raise interest rates for a seventh time in June and, perhaps, again in August. The Fed implied as much, in its statement after it raised rates.
Those rate increases, if they happen, will also act to brake the economy as the election approaches.
According to Cardweb.com, which follows credit-card trends, the latest rate increase will cost Americans $1.4 billion, over the next year.
"Real interest rates are now at Ievels that have never failed to slow economic growth in the past," says Bruce Steinberg , chief economist, for the Merril Lynch & Co., New York.
By the time the election arrives. the slowdown will be starting. The first sector of the economy to feel the crunch will be housing. Mortgage rates are currently about 8.5 percent. By November, predicts David Seiders, of the National Association of Home Builders, mortgage rates will hitting 8.81 percent. 'The Fed wants to slow housing down. They are not happy with how much housing prices are rising," says Mr. Seiders.' "
GREENSPAN IS THE GODFATHER OF THE BANKSTERS
& FATHER OF THE TRADE DEFICIT !!!
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