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      09-22-2007, 08:21 PM   #18
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Drives: 2003 540i/6
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Originally Posted by lucid View Post
What makes you think I was referring to Greenspan eventually increasing the Fed rate? I was actually referring to Greenspan cutting the Fed rate all the way down to 1% and keeping it there for years. He should not have lowered it that much, and kept it there for so long. That's what Greenspan did. He eventually had to raise it, but it was too late. We are now beginning to suffer the mid-term effects, which won't go away by re-lowering interest rates just because idiots got themselves into trouble in the securities and mortgage markets with cheap money that was made available to them by Greenspan. The Dollar has been in trouble for a long time now because of low interest rates. You can't speculate against a currency that doesn't have an underlying problem.
ah. there's some truth to that. agreed. however, i dont think it's fair to simply blame greenspan. the problem and it's many causes are more complex than that.
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