Gerald P. O'Driscoll, Jr. tells us, "To Prevent Bubbles, Restrain the Fed."
It is time to think past the crisis. When Alan Greenspan worried about deflation (falling prices), he kept interest rates too low feeding the investment bankers in the great credit over expansion of the mid-2000s.
How will we soak up all the excess liquidity that could fuel the next bubble?
Tuesday, November 18, 2008
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