I guess I didn't explain it but that is what amazed me about Greenspan saying that back in 66. That sure was not the way he ran the Fed under his watch. It is the position of some that it was Greenspan who kept interest rates at too low of levels too long and was the beginning of the multiple bubble economy that eventually led to the situation we are now in. Basically too much cheap money to continually stimulate the economy, even in times of good economic growth (as opposed to withdrawing the punch bowl during good times and putting the punch bowl out during tough economic conditions...... we had the punch bowl out all the time). That is what amazed me about these comments he made way back then. Like he knew what he was talking about but then either could not or would not apply his convictions.

Or maybe the powers that be actually DO know, and just decided to screw the people anyway?????

John