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  • From: Gene GeRue <genegerue AT ruralize.com>
  • To: homestead AT lists.ibiblio.org
  • Subject: Re: [Homestead] What some of it means
  • Date: Tue, 25 Sep 2007 17:32:34 -0500


On Sep 25, 2007, at 3:18 PM, Lisa K.V. Perry wrote:

"The Age of Turbulence," by Alan Greenspan. He is
very much opposed to crop subsidies.

I'm debating whether or not to read it. I still contend he had more power
than God.

He was most frustrated by politicians. He admired Ford for many qualities. He feels Clinton was most true to pursuing policies that were best for the country. He was frustrated by Bush II who insisted on fulfilling campaign promises though the Fed found them bad for the country.

It is giving me a more balanced perspective on the national economy and how it works. Economics was largely inscrutable to me. Happily, in his writing, Greenspan drops the Fed Speak.

As for how much power he had, I think it is an indication of his qualities that presidents of both parties gave him the job.

He found the media perception of him pretty silly. He notes the "briefcase indicator" where CNBC cameras followed him and showed whether his briefcase was slim or bulging as an indicator of whether the Fed was calm and untroubled or burning the midnight oil and a rate hike was imminent. "For the record, the briefcase indicator was not accurate. The fatness of my briefcase was solely a function of whether I had packed my lunch." (page 198)





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